The U.S Treasury Department is providing $7.8 million dollars to 18 states to assist struggling homeowners in their communities. Luckily for first time home buyers in Florida, their state is included in the list of the fortunate 18.
The $15,000 incentive initially comes in the form of a zero-interest loan. The terms state that each year you live in the home, $3,000 of the loan is “forgiven.” Thus, if you live in the home for 5 years, the entire amount will be forgiven and the $15,000 will have turned into a grant.
Duval County is one of just five counties in Florida where first-time home buyers are eligible to receive $15,000 to use for a down payment and closing cost assistance.
The U.S Treasury Department is providing $7.8 million dollars to 18 states to assist struggling homeowners in their communities.
The program is called the Hardest Hit Fund. While it is tailored for first-time home buyers, if you have not owned a home in three years, you are eligible.
Eligibility is based on credit score and income. But don’t let that deter you. You can earn up to about $86,000/year to apply.
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