Select The Type Of Aid You’re Seeking:
As a Florida first time home buyer, if you or someone in your family is disabled, make sure you purchase a home that is disability-friendly, or at least a home that you are able to make changes in. This is important to remember because you do not want to buy a home that would make a hard for the disabled individual to get around in.
Home Mortgage Tip:
If your appraisal isn’t enough, try again. If the one your lender receives is not enough to back your mortgage loan, and you think they’re mistaken, you can try another lender. You cannot order another appraisal or pick the appraiser the lender uses, however, you may dispute the first one or go to a different lender. While the appraisal value of the home shouldn’t vary drastically too much between different appraisers, it can. If you think the first appraiser is incorrect, try another lender with, hopefully, a better appraiser.
Additional items of interest:
- The Sunshine State offers many programs specifically for/targeted at those people buying their first home.
- Grants in the 3rd most populous state can be given out by foundations as well as local and county governments.
- Grants to individuals can be either donations or no-interest, no-monthly-payment loans that are forgiven over a period of years, often 5.
- First time home owners can receive a once off payment to offset the closing costs and/or to be used towards the down payment.
- In spite of the fact that the state has the longest coastline in the contiguous United States, 1st time home buyer programs are typically granted based on a few criteria, primarily financial need and income qualifications, which seems somewhat ironic considering the number of expensive waterfront properties there are.
- Many counties in FL have initiated grant programs to help lower-income residents with the purchase of their first residence.
- Funding for various home buyer aid programs in “The Flowery” is nearly always available, although it sometimes dries up near fiscal year end when budgets can get exhausted. This shortfall is normally replenished when the new fiscal year begins.
- First home buyer assistance is available to Floridians who are potential house buyers who have not previously owned a property within the last 3 years.