Helping Florida's Military Heroes

By
Mortgage and Lending with Fairway Independent Mortgage Company 385907

Did you know that Florida Housing offers a program entitled "Military Heroes?"

Well they do, and guess what?

the rate is lower than the rest of their programs

Most Housing Authorities offer programs exclusively for first time home buyers, but when it comes to our Veterans, that condition is waived.

Veterans also have access to the Housing Authorities down payment, and closing cost assistance programs

The programs offer down payment and closing costs assistance, and there are two basic options;

First,

a $10,000 true second mortgage, at 0% interest, non amortizing (no payments), deferred.

deferred usually until the property is sold

this option is most commonly used with an FHA first mortgage.

Second,

a conventional loan, requiring a minimum 3% down payment, with reduced monthly MI, and a 3% grant

that's "grant" as in not repaid (free money)

 

While these programs have traditional income guidelines, which are actually fairly liberal, the conventional loan program has a very interesting provision.

The Veteran may apply by themselves, if the household income exceeds the guidelines, but the Veteran's individual income still qualifies for the loan.

So I know we all want to do what we can to help our Veterans achive home ownership so as they say in Nikeland (let's all)

 

Just do it!

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Topic:
Mortgage / Finance
Location:
Florida
Groups:
Keller Williams 'Rainers
Century 21 Network
RE/MAX Active Rain Bloggers
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Posts to Localism
Tags:
palm beach county
martin county
st lucie county
florida veterans

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Rainmaker
1,861,584
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Great post, everyday is Veterans Day!

Mar 30, 2015 12:12 AM #1
Rainmaker
275,477
Jay Beckingham
Fairway Independent Mortgage Company - Delray Beach, FL
"I love first time homebuyers"

Andrew,

 

there are just sooooo many Veterans who have done so much for all of us. At times it seems we're just not doing enough for them.

 

jay

Mar 30, 2015 12:15 AM #2
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Rainmaker
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Jay Beckingham

"I love first time homebuyers"
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