Special offer

City of St. Petersburg Police Officer Down Payment Assistance

By
Mortgage and Lending with Tampa Bay Florida FHA, VA, USDA & Jumbo Mortgages NMLS#237468

Every day St. Petersburg Police Officers risk their lives to protect ours, The City of St. Petersburg recognizes that and so do I. The City of St. Petersburg offers a Police in Neighborhoods (P.I.N.) Home Buyer Loan Program that gives St. Petersburg Police Officers $14,000 as down payment assistance. The funds can be used towards the down payment and/or closing cost on a purchase of a property within the city limits of St. Petersburg.

With that, when financing your purchase with Joshua A. Lerette, The Tampa Bay Mortgage Pro, St. Petersburg Police Officers will also receive an additional $1000 off their closing cost in appreciation for their heroic services provided. The $1000 off closing cost applies on all purchase and/or refinance transactions.

The City of St. Petersburg's $14,000 down payment assistance is a mortgage at 0% interest with a 7 year term. The loan is forgiven during years 1-4 at 10% and 20% for years 5-7. At the end of 7 years, as long as the Officer continues employment within the City of St. Petersburg Police Department and keeps the home as their primary residence, the loan will be completely forgiven. If for any reason the Officer chooses to end their employment with the City of St. Petersburg Police Department or no longer resides in the property as a primary residence, the loan will become due and payable.

How to qualify for St. Petersburg Police Officer Down Payment Assistance


First, the Officer will submit a request for permission to participate in the program to the St. Petersburg Police Department. The department will then determine the employment status with the SPPD and if qualified, forward the request recommending the Officer to the 
St. Petersburg Housing Department. The Officer will then have to meet with the Housing Department and complete a P.I.N. Loan Application. Once the Officer has completed their P.I.N. Loan Application, they will then need to apply with a City of St. Petersburg approved lender for their mortgage needs. You may contact The Tampa Bay Mortgage Pro for all your mortgage needs. A complimentary pre-approval and credit analysis may be obtained over the phone, on-line, or in person, whatever is more convenient. Once approved for financing, the City of St. Petersburg will transfer closing documents and checks to the title company for closing of the mortgage and purchase transaction.

For more information about the City of
St. Petersburg Police in Neighborhoods (P.I.N.) program or other down payment assistance programs in Pinellas County, you may contact Joshua A. Lerette, The Tampa Bay Mortgage Pro.







Posted by

Joshua LeretteAn experienced mortgage industry professional, Joshua Lerette has helped home owners and potential home buyers across the country purchase andrefinance their homes for over 11 years. Based in Tampa, FL, Joshua Lerette is an well known expert in the industry and extremely well versed in mortgage products available to potential clients including FHA Loans, VA Loans, USDA Loans, Fannie Mae and Freddie Mac home mortgage loans as well as Jumbo Loans to help potential home buyers and home owners either purchase or refinance.

 
 
 
Follow or Connect With Joshua A. Lerette - Tampa Bay's #1 Trusted Mortgage Specialist
 
Follow Joshua Lerette on Facebook Add Joshua Lerette to Your Circle Follow Joshua Lerette on Blogger Connect With Joshua Lerette on LinkedIn Follow Joshua Lerette on Twitter