Let's talk about Jacksonville down payment assistance and see what is available. There are many options for Jacksonville residents seeking down payment assistance to purchase a home in the Jacksonville and Orange Park areas. These programs provide down payment, closing cost and prepaid assistance. Here are two very popular programs that first time homebuyers like to use, Florida Assist ( Florida Bond Money ) and H2H ( Headstart to Homeownership ).
First let's discuss the Florida Assist down payment assistance program.
Florida Assist ( Florida Bond Program )
As of 5/25/2014 the Florida Assist program is still going strong! This provides $10,000 in down payment and closing cost assistance for first time homebuyers. There are family and income guidelines such as a family of four may not earn more than $89,600 in order to receive the assistance in Jacksonville or Orange Park. The other restriction is that the purchaser must have at least a 640 credit score and be credit worthy. You may contact Julie Grandy with Watson Mortage to see if you qualify.
The Florida Assist program comes with a 30 year fixed interest rate. The rate is currently 4% for first time homebuyers in Jacksonville and Orange Park and the rest of the state of Florida.
If you are active or veteran military personnel you are eligible for a lower rate of 3.75%. This falls under the category Florida Military Heroes. This 3.75% interest rate is also 30 years fixed and you may use it in conjunction with your VA loan benefits.
If you are a first time homebuyer and would like to use down payment assistance for the purchase of your new home please visit my website where you conduct a search for homes or receive more valuable information to assist you in your first home purchase.
Come back to my blog for a discussion on the H2H program.