Available for eligible properties in Orange County, this Down Payment Assistance Program offers up to $30,000 for qualified first-time home buyers through a ten-year deferred interest loan. These funds can be used for the down payment and/or qualified closing costs, but the loan must be paid back prior to the ten-year term end if the property is sold, rented out, refinanced without prior approval, or is no longer the applicant’s primary residence.

Applicants cannot have owned a house in the previous three years, must be legal US residents, and must have been residents of Orange, Osceola, Seminole or Lake County for the past year. In addition, applicants must have a minimum credit score of 640 and at least $1,000 (or up to 1.75% of the purchase price, whichever is greater) to put towards the down payment or closing costs. Applicants must also fall within certain annual household limits.

In order for a property to be eligible for this program, it must be within Orange County (but outside of Orlando), be owner-occupied, and not have a purchase price of more than $200,000. Single family homes, condominiums, townhouses, and modular homes are all eligible, but not mobile homes.

Other programs in Florida:

• Broward County Homebuyer Purchase Assistance Program
• State Housing Initiatives Partnership Program
• Hardest Hit Fund Down Payment Assistance
• Escambia County Down Payment and Closing Cost Assistance
• Palm Bay HOME Down Payment Assistance Program

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