If you are a First-Time Buyer in Orange County, Florida, and were planning to get a large chunk of money from the County, that "large chunk" just dwindled appreciably yesterday. What this means to you First-Time Buyers is that you will continue to be able to access funds from Orange County Down Payment Assistance/State Housing Initiative Partnership (SHIP) if you qualify--but there will be less funds available per Buyer/Family.
Well, here it is: The Powers-That-Be have made and enacted the dreaded changes to Orange County's Down Payment Assistance Program for First-Time HomeBuyers...And It Just Happened Yesterday.
I just received an email letter regarding the new program changes. The changes to the Program have come about because our State Legislature used about $6 million that was to go toward funding the Program to balance the State budget. There ARE current funds available (I know this because we have been successfully getting funds from Orange County DPA this year to help families buy their first home!) but, in an effort to stretch those funds, the County has decided to reduce the funds available to Buyers. Those changes are outlined below.
Orange County Down Payment Assistance/State Housing Initiative Partnership (SHIP) New Rules
June 23, 2009
Notice of Program Change
To Whom It May Concern:
"State budget action requires that we make changes to the current funding levels that will allow us to continue assisting households with DPA through 2010. DPA program changes to be implemented are:
Very Low Income $25,000
Low Income $17,500
Moderate Income $5,000
These changes were reviewed and approved by Orange County's Affordable Housing Advisory Board and the Board of County Commissioners approved these changes to the Down Payment Assistance Program on June 23, 2009. These changes are effective immediately."
This is only an excerpt from the email letter I received & if you would like a copy of the actual email, just email me with your request and I'll forward a copy.
If you're interested in BUYING a Central Florida home and you're a FIRST-TIME BUYER, click:
Find out if you qualify for a Government-Sponsored Down Payment Assistance Program.
If you Buy a Home that is in an FHA or VA-approved community, there is the possibility of Buying for NO- or LOW-DOWN PAYMENT. Also, there is the possibility of FREE MONEY from the City of Orlando (please see their website link: www.CityofOrlando.net ) or from Orange County/SHIP. Up to $25,000 of FREE MONEY available. ** Of course, there are income guidelines and major hoops that you have to jump through to qualify--but go ahead and find out if you can possibly qualify or not.
As a REALTOR(r) in the Central Florida area, I am able to SHOW and SELL ANY LISTING FROM ANY COMPANY. Plus, YOU pay me no commission; the SELLER typically pays my commission and you get superlative representation.
Good Information for Buyers & Sellers Located at:
Search for Homes Myself on My Computer in the Privacy of My Home at:
Best wishes in your home search!
Watson Realty Corp., REALTORs
"How To" Buy a Home Report--FREE for Buyers
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