"Florida's Home Loan Specialist" Building A Clear Mortgage Plan Focused On Your Goals

(407) 408-8169

(407) 408-8169

  • Home
  • FIND OUT MORE
    • About NOMAR MORTGAGE
    • Before You Buy!
    • PreApproval or PreQualify
    • Reasons To Use A Realtor
    • Down Payment Assistance
    • DPA SEMINAR
    • Loan Programs
    • Loan Approval Documents
    • Loan Application
    • VA LOANS
  • More
    • Home
    • FIND OUT MORE
      • About NOMAR MORTGAGE
      • Before You Buy!
      • PreApproval or PreQualify
      • Reasons To Use A Realtor
      • Down Payment Assistance
      • DPA SEMINAR
      • Loan Programs
      • Loan Approval Documents
      • Loan Application
      • VA LOANS
  • Home
  • FIND OUT MORE
    • About NOMAR MORTGAGE
    • Before You Buy!
    • PreApproval or PreQualify
    • Reasons To Use A Realtor
    • Down Payment Assistance
    • DPA SEMINAR
    • Loan Programs
    • Loan Approval Documents
    • Loan Application
    • VA LOANS
NOMAR MORTGAGE

Down Payment Assistance

  

Down Payment Assistance (DPA)

Assistance to Help First Time Home Buyers purchase a home

The Down Payment Assistance Program can provide assistance to qualified First Time Home Buyer's for down payment and closing costs associated with purchasing a home.

  • First Time Home Buyer: the definition includes persons or households who have not owned a home or had an interest in a home during the three (3) year period immediately prior to applying for Purchase Assistance
  • The amount of assistance provided is determined and based on total household income. (income from all adults living in the house that are over 18 years of age)
  • Home Buyer must contribute the greater of $1,000 or 1.75% of the contract sales price.
  • Minimum credit score for all applicants is 620
  • All applicants must complete a pre-purchase home buyer’s education program and secure a first mortgage.
  • Qualify for a 1st mortgage through a certified Lender
  • Eligible mortgage loans: fixed rate FHA, 203(k), Conventional, VA, and USDA; owner financed homes are not eligible under the DPA program.
  • Must have legal right to permanently reside in the United States
  • Must complete Down Payment Assistance loan application for the county assistance is requested.
  • Eligible properties include single-family homes, condominiums, and townhouses.
  • A household can qualify as very low income, low income, or moderate.
  • Purchase a home that will be their primary residence


The amount of assistance available:

  • Orange County $15,000.00 up to $35,000.00
  • Seminole County $10,000.00 up to $50,000.00
  • Osceola County $10,000.00 up to $30,000.00


Maximum purchase price:

  • Orange County $230,000.00
  • Osceola County $200,000.00
  • Seminole County $200,000.00 existing homes
  • New home construction up to$259,000.00


Down Payment Assistance must be repaid if the property is not occupied by the borrower during the lien period, sold, rented or refinanced.

Attend post-purchase counseling within six months after the home purchase.

RETURN TO HOME PAGE

Copyright © 2019 NOMAR MORTGAGE - All Rights Reserved.

Powered by GoDaddy