How does the down payment assistance program work?

Florida Housing wants to help you find a lender for your home purchase. We have approved lenders all over Florida, and they can answer any of your questions about qualifying income or the requirements to get in on this great deal!

The housing market is tough right now - it's hard enough just trying to buy a house with decent credit these days. But if that doesn't deter you from wanting one as much as we want one- our Program might be perfect for you! See an Approved Lender today because time’s running out before there are no more houses left at such high prices.

1. You need to be a first-time homebuyer.

2. You should have a good credit score and enough income for the down payment.

3. Your debt-to-income ratio needs to be reasonable, which is <38% of your gross monthly income.

4. If you are married, both partners need to meet these requirements.

5. If you have been denied by other banks or lenders, it's possible that they will approve you if they think there is significant value in the property.

6. One way to increase your chances of getting approved is by applying with an experienced real estate agent who has experience working with first time buyers.

7) A mortgage lender may require a bigger downpayment than normal - up to 20% instead of just 3%. This can help protect them from risks associated with lending money for large purchases like homes.

8) Finally, make sure that you know how much a house can afford before starting the process! It's important not to get overextended and buy more houses than you can afford because then it could lead to foreclosure later on!

9) The application process usually takes about 2 weeks but this varies depending on each bank so make sure that when filling out paperwork for any mortgage loan you keep good records. 

When you are ready to buy a home, make sure your credit score is good and that you have enough income for the down payment. Your debt-to-income ratio needs to be reasonable, which is <38% of your gross monthly income. If you’ve been denied by other banks or lenders before, contact us today! We can help get approved even if others turned us down.