Well the bad news for some Jacksonville, FL and Orange Park,FL first time homebuyers is the Florida Bond will require at least a 600 credit score for approval. The only exception will be when there are no FICO scores in which a manual underwrite will be acceptable. Believe it or not this has affected many potential Jacksonville, FL home buyers.
The good news is that the new issue from the Florida Housing bond program will be at a interest rate of 6%. This is great news! The former rate was at 6%.
So that said they have given a little and taken a little.
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