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First Time Home Buyer Grants

Hunting for Florida first time home buyer grants to purchase that home? Discover the best grants for home buying in Florida and other home mortgage grants available below.

Before you obtain a grant and apply for a mortgage, you really need to understand how your credit profile looks.

You want to know your credit score and determine if you need credit repair before proceeding.

Unfortunately, without a minimum credit score of 640, you'll not qualify for these low down payment programs. The FHA 203b loan works well with the various grant options. The higher your credit score is the lower your interest rate.

Acquiring a home in any state is an awesome project! However, don't let yourself become overwhelmed with the process.

It is my plan to give you some useful information in this article about first time home buyer grants which will help you along the way.

Qualifying for one of these is like getting a stack of money as a gift!

If you need help estimating your mortgage closing costs, check out this FREE closing costs calculator by clicking here.


Florida Grants for Home Buying

Unfortunately, the State of Florida does not offer a Florida first time home buyer grant program for its residents. However, it does have some down payment assistance programs.

One is called the "Florida Assist Program." This program works in a form of a zero percent deferred second mortgage for up to $7,500. Repayment is deferred, except in the event of a sale, transfer, satisfaction of the first mortgage, refinancing of the property or until you no longer live on the property. At that time the "Florida Assist Program" will become payable in full. It does require working with participating lenders.

You can also investigate to see if your county government offers help. Many of them have down payment and closing costs assistance programs available to those who meet the requirements. It is called the "State Housing Initiatives Partnership" (SHIP) program.

Another awesome possibility is the "Florida Housing Mortgage Credit Certificate (MCC) Program." This program can help first time home buyers save money for each year they live in the home. You can claim up to 50% of the mortgage interest you pay each year as a tax credit on your federal IRS tax return. It is capped at $2,000 annually. Any amount over that can still be declared as a home mortgage interest deduction on your tax return. 

There are also various local programs. It is hard to list all of these so be sure check with your lender as to what is available in your particular purchase area.

The state agency which maintains these programs is the Florida Housing Finance Corporation. There are various limitations and requirements that determine your eligibility you will want to investigate.

Federal Home Buying Grants

In addition, the federal government offers grant assistance for first time home buyers Florida. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.

Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.

Other Home Mortgage Grants

Another website I would recommend that you view is Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.

It is important to note that there is a plethora of local first time home buyer grant programs available from specific private organizations in Florida.

Now you know about assistance programs for your state. You still need a mortgage that works with them. Finding a lender who understands your needs can be difficult.

The FHA loan products are very flexible and work well with other assistance programs. Would you like to know where you stand with their requirements? Learn what those requirements are by clicking here.

Perhaps a grant is not available in your state. Or you do not qualify for one. Don't get discouraged. If you still want to save money, check out this page that discusses the zero down payment program.

Florida First Time Home Buyer Grants Support

Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.

Click here for additional information on Florida First Time Home Buyer Grants.

This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.

Please tell others about this FREE information. Everybody else on the web charges for this kind of stuff!!

Leave Florida First Time Home Buyer Grants and return to the State Lists main page.

Go to House Buyer Solutions Home Page.

New Jersey Grants

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South Carolina Grants

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