Money Currently Available: YES (updated 9/19/08 - always call to verify)
Maximum Sales Price: $219,000
Income Guidelines/How Much Downpayment You Get:
HOUSEHOLD SIZE
You Get $35,000
if you make <
You Get $30,000
if you make <
You Get $20,000
if you make <
1 PERSON
$20,700
$33,150
$49,680
2 PEOPLE
$23,700
$37,900
$56,880
3 PEOPLE
$26,650
$42,600
$63,960
4 PEOPLE
$29,600
$47,350
$71,040
5 PEOPLE
$31,950
$51,150
$76,680
6 PEOPLE
$34,350
$54,950
$82,440
7 PEOPLE
$36,700
$58,700
$88,080
8 PEOPLE
$39,050
$62,500
$93,720
You may also combine this with bond money for additional down payment assistance
Property must be brand new construction or completely rehabbed in the last 12 months (new roof, A/C, electrical, plumbing, etc. - like a brand new property)
Needs to be paid back in full if you live in the property less than 15 years
Max. 47% debt to income ratio plus application with credit score below 620 may be declined for any of the following:
More than two installment or revolving debt payments that were 30 days past due in the last 24 months
Any installment or revolving debt payments that were 60 days past due in the last 24 months.
Rent payments past due in the previous 12 months.
Unpaid judgments, liens or garnishments
Bankruptcy - Two years must have elapsed from discharge of the bankruptcy and a two year period of satisfactory credit has been re-established.
Pre-purchase class required. To register for the class call HANDS at 407-445-5686 or visit www.cflhands.org
