HOME BUYER PROGRAM Assistance to help you purchase a home

DOWN PAYMENT ASSISTANCE (DPA)

The Down Payment Assistance Program provides assistance to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The amount of assistance provided will be determined based on your household income. A household can qualify as very low income, low income, and moderate. Please refer to the income chart in the Learn More section of this web page to access the income limits. The amount of assistance available is from $15,000 to $35,000. All applicants must complete a pre-purchase homebuyer’s education program, and secure a first mortgage. The property to be purchased must be located in Orange County, outside the city limits of Orlando. For additional information, please refer to the Down Payment Assistance flyer and applicants are also encouraged to use the contact information below.

The State Housing Initiatives Partnership 2016-2017 close out report will be available for review and comment between September 9, 2019 to September 13, 2019 at the Housing and Community Development Division.

Down Payment Assistance Program for First Time Homebuyers

You may be eligible for up to $35,000 down payment assistance

WHAT IS THE DOWN PAYMENT ASSISTANCE PROGRAM?

The Down Payment Assistance Program provides funding to eligible first time homebuyers to purchase a new or existing home.

WHO QUALIFIES?

First Time Home Buyers:

A person who has not owned a home in the past three years. Exceptions are made for displaced homemakers.

2019 Income Limits Chart

Your annual income must fall within the one of the categories below:

  • Provide the greater of $1,000 or 1.75% of sales price towards down payment and closing costs.
  • Have a middle credit score of 620.
  • Residency in Orlando Metropolitan Statistical Area (Orange, Osceola, Seminole or Lake County) for the last 12 months.
  • Must have legal right to permanently reside in the United States.

ELIGIBLE PROPERTIES

  • Maximum sales price for new and existing is $230,000.
  • Single Family homes, condominiums, townhouses, modular homes located in
  • Orange County, but outside the city limits of Orlando.
  • Mobile Homes are not eligible

HOW DO I GET STARTED?

1. Attend an approved Homebuyers Educational Seminar.

To register contact the following agencies:

H.A.N.D.S. of Central Florida
407-447-5686 (OPTION 4) English
407-447-5686 (OPTION 2) Spanish
http://www.cflhands.org

Consumer Credit Counseling Service MD (CCCSMD)
877-355-1763
http://www.cccsmd.org/pre-purchasecounseling/

Housing & Education Alliance
407-232-6955
http://www.heausa.org/first-time-homebuyer-classes/

2. Contact a lending institution to obtain a loan commitment and be qualified for a first mortgage.

3. Find a home priced within the program sales price limits and within your preapproved loan amount.

4. Complete your home purchase loan package and forward it to the Housing and Community Development Division.

LOAN CONDITIONS AND REPAYMENT

  • Assistance up to $35,000 may be provided. Funding may be used for qualified closing costs and down payment associated with purchasing a home.
  • Orange County’s Down Payment Assistance must be repaid if the property is not occupied by the borrower during the lien period, sold, rented or refinanced.
  • 10 year deferred loan.

For additional information about the Down Payment Assistance Program contact Tynna Rau:

401 S Rosalind Ave., Orlando, Florida 32801
Telephone: 407-900-7902
Email: tynna.rau@exprealty.com