U.S. News & World Report issued an extensive overview of programs in Florida that can help first-time homebuyers secure their first house – and in some cases, they don’t even need to be first-timers. A few programs consider anyone who has not owned a home within the past three years a first-timer.
There are three broad categories of aid for first-time buyers: home loan programs, some type of financial help to allow them to take out a mortgage, and buyer education programs that can teach them the basics of homeownership and help them understand the other aid packages available.
Many buyers and industry experts understand the national programs that can help first-timers – Federal Housing Administration (FHA) loans, Veteran Affairs (VA) loans and other programs – but the state also has the Florida Housing Finance Corporation (Florida Housing) that the Florida Legislature created to help provide affordable housing options statewide.
“Florida Housing’s programs provide assistance to eligible homebuyers by offering low-cost, 30-year, fixed-rate mortgages together with downpayment and closing cost assistance,” according to Taylore Maxey, press secretary for Florida Housing.
For an overview of first-time buyer options, read the full article in U.S. News & World Report.