By: Mary Shanklin
Source: orlandosentinel.com
With the aim of boosting its sagging housing market, Florida state Legislature has set aside $30 million to create the Florida Homebuyer Opportunity Program, aimed at first-time buyers and others who have not owned a home for at least the past three years. The Program will offer first time qualified homebuyers $8,000 upfront, as a downpayment toward purchasing a home. To qualify, an individual cannot earn more than $75,000 a year, while couples can’t earn more than $150,000.
“Here in Florida, rather than qualified buyers waiting to get the tax credit on the tail end of the process, in the form of a credit after they have filed the tax returns, it will allow them to get it upfront and let them use it for down-payment assistance and fees,” said David Hart, vice president of legislative and government affairs for the Florida Home Builders Association. He estimated that about five states are taking a similar approach.
Florida offers help to some with home down payment
