Homebuying AssistanceCici Carter

Down Payment Assistance

There are still a number of programs out there that will offer down payment and closing costs assistance. Here are a few:

NACA Purchase Program

The Neighborhood Assistance Corporation of America is a nationwide advocacy group that has a fantastic homebuying program. They offer extensive loan counseling (a requirement for their program) that ensures that you only purchase what you can actually afford, and their program offers:

  • No Down Payment
  • No Closing Costs
  • No PMI (Private Mortgage Insurance)
  • Lower interest rate
  • You don’t have to have perfect credit
  • There are NO income limits to qualify for the program.

USDA 100% Financing

For homes in certain areas, USDA Financing is another no-down-payment option. The basic rules:

  • You must have satisfactory credit.
  • You must not exceed maximum household income requirements.
  • The property you are purchasing must be in certain specific areas.
  • You will still need to pay closing costs and prepaids, unless your agent can negotiate for the seller to pay those on your behalf.

Veterans Administration 100% Financing

If you have ever served in any branch of the military, you may qualify for a VA loan. 

  • You must have satisfactory credit.
  • You must have a valid Certificate of Eligibility.
  • You will still need to pay closing costs and prepaids, unless your agent can negotiate for the seller to pay those on your behalf.

Florida Bond

The Florida Homebuyer Loan Program (aka Florida Bond) provides up to $15,000 that can be used toward your down payment, closing costs, and prepaid items. Their requirements are fairly straightforward:

  • You must complete a homebuyer education class, which can be completed online.
  • You must have a FICO score of at least 640.
  • The interest rate is usually one percent higher than the prevailing interest rate.
  • There are income limits to qualify for the program.
  • There are repayment requirements if you live in your house for fewer than 5 years.

Chenoa Fund

The Chenoa Fund covers your entire down payment.

  • You must have a FICO score of at least 640.
  • The interest rate is usually one percent higher than the prevailing interest rate.
  • There are income limits to qualify for the FHA program, but there are NO income limits to qualify for the Conventional program.
  • You will still need to pay closing costs and prepaids, unless your agent can negotiate for the seller to pay those on your behalf.

Other Florida Programs

Click the link above for other down payment assistance options. Select “DPA” from the menu at the bottom of the page.

 

For Our Heroes: Help With Closing Costs!

My Heroes Rebate Program is a way for me to give back to those who have given so much to our community.

When you BUY or SELL a home with me, I will give you 20% of my commission back as a credit to be applied toward your closing costs.

In order to participate in the program, at least one party to the contract must be active or retired from one of the following services:


  • Teacher
  • Social Worker
  • Military (Any Branch)
  • Law Enforcement
  • Firefighter
  • Doctor/Nurse/Paramedic
  • Licensed Clergy

Contact me TODAY to get started!

Proof of service is required. Only one rebate can be used per transaction. Restrictions apply.