First Time Homebuyer Program Offers $10,000 Assistance

Element-Funding-1st-Time-Homebuyer ProgramMiami Home loan, and Element Funding, direct lending mortgage bank, added a new First Time Homebuyer mortgage program for qualified first time buyers.  Jim Carter, loan officer, reports on the First Time Homebuyer program.

Florida Housing First Time Home Buyers Program, offers a 30 year fixed-rate first mortgage program for eligible first time homebuyers (some exceptions apply).  Florida housing also offers down payment assistance which is only available to borrowers who utilize one of the Florida Housing First mortgage programs.  Borrowers are required to complete a homebuyer education course, through an approved education provider, and, must meet Florida Housing’s minimum FICO requirement.



First Mortgage Programs

Florida First: This 30 year, fixed-rate first mortgage is available to all borrowers who satisfy credit requirements and First Time Homebuyers Program income and purchase price requirements. Borrowers who qualify for the first mortgage payment program will automatically qualify for one of Florida’s Housing’s down payment assistance programs.

Military Heroes: This 30 year, fixed-rate mortgage is available to veterans and active duty military personnel who satisfy credit requirements and First Time Homebuyer program income and purchase requirements. Additionally, the first mortgage offers a lower rate than the Florida First.  Borrowers who qualify for this First Mortgage program will automatically qualify for one of Florida’s Housing down payment assistance programs. Veterans need not to be the first time homebuyers to qualify.

Down Payment Assistance Program Florida Assist:  This down payment and closing costs assistance program is deferred, non-amortizing, 0% interest, second mortgage that is repayable when borrowers sell or refinance the property, satisfy the first mortgage or no longer occupy the property as a primary residence.

So, if you need a Miami Home Mortgage, for a First Time Homebuyer, please call me, Jim (James) Carter, from Element Funding, at 305-525-6742 to deteremine if you qualify for this First Time Homebuyer program.  We at Element Funding, will help you with an exceptional Miami Home Loan where our Primary Focus is you!


 PRMI NMLS: 3094. PRMI is an Equal Housing Lender. DISCLAIMER: Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Florida Office of Financial Regulation, #ML100000111.


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