Miami Home Loan, and Element Funding, direct lending mortgage bank, learned the Florida Housing Program is decreasing the amount of Down-Payment-Assistance, next month. This program gives a First Time Homebuyer, (1st time Homebuyer) a way to get additional funds for their down-payment and closing costs. Jim Carter, senior loan officer, reports on the details, so, give Jim a call for any additional qustions at 305-525-6742.
Beginning in the third quarter of 2014 and continuing through today, loan officers are locking loans at a record pace in our program. We thank you for supporting our programs to such an extent. However, in an effort to stretch our available resources and provide downpayment assistance to borrowers on a continuous basis, we need to reduce the amount of DPA we offer in the FL Assist second mortgage program from $10,000 to $7500 for reservations or locks made on or after 06/15/2015.
Florida Housing plans to create new loan and DPA programs to supplement their existing programs in the near future.
So, if you need a Miami Home Mortgage, please call me, Jim (James) Carter, from Element Funding, at 305-525-6742to help you get the best financing solution. We at Element Funding, will help you with an exceptional Miami Home Loan where our Primary Focus is you!
We are sending you this email because we want to make sure that we give our lenders enough time to make the necessary changes in their origination systems to disclose this lower amount and whatever other technical changes they need to make. We also want to give our loan officers the time needed to work through their existing pipelines.
So, if you need down-payment -assistance for a Miami Home Mortgage, please call me, Jim (James) Carter, from Element Funding, at 305-525-6742to help you get the best financing solution. We at Element Funding, will help you with an exceptional Miami Home Loan where our Primary Focus is you!
Any loan reserved or locked prior to the June 15th implementation date will still be eligible to receive our current $10,000 DPA amount. We appreciate your continued support of our Homeownership Programs. Please call or email me with any questions or concerns.