Home : Blogs : Gerry Suarez Jr- Your FHA Loan Pro! : Your HUD Loan Pro! FHA Loans, VA Loans, USDA Rural Development and Down Payment Assistance Info for Florida

Using the $8000 tax credit as down payment in Lake County Florida-update

FL HOP

To sum it up, the program will not be available in Lake County until early August at best. Applications cannot be accepted until that time. If you have buyers anticipating the need for these funds, now is the time to have them begin working with your lender to ensure they are ready to submit their application as soon as allowed.

There is only $402,343 allocated to Lake County. Assuming we get only 1 use per family at $8000 per family that means we will be able to help only 50 families. If you have a buyer that needs this program they are well advised to act quickly.

Do note a maximum purchase price of $247,387 does apply. Much more information is available at this link. If you have any specific questions, you know where to call.

Gerry Suarez, Jr.

Your FHA Loan Pro!

Posted by Gerry Suarez Jr- Your FHA Loan Pro! on 07/07/2009 03:35 PM

Comments (2)

Down Payment Assistance in the Mortgage / Finance Channel

down payment assistance, fha loans, thomas mortgage, lake county, gerry suarez

This post has been included in Florida Information Lake County, FL Information
Post is included in group: The FHA Mortgage Group
Post is included in group: Realtors®
Post is included in group: Mortgages
Post is included in group: All Things Florida
Post is included in group: 1st Time Buyers

2 Comments on Using the $8000 tax credit as down payment in Lake County Florida-update

JUL

Gerry- In Wisconsin we have something similar, but the program allocating the money, requires SPECIFIC lenders to do the loan! IS there something similar there?? Or did you have to get on an "approved" list?? Just curious!

Thanks!

Darin

same here D-man, locally I can play. On the state level for certain bond programs and such we are not approved, but I haven't seen much success in those programs- hence our lack of involvement.

I do have a couple of buyers looking at leveraging the tax credit $ though, and I hope to be able to help them soon. Public sector wheels turn slow though- changes for this program require 30 days public notice- so we just have to stay on top of changes and be ready to act quickly.

Thanks for the comment Darin!

Gerry Suarez, Jr.

Your FHA Loan Pro!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?