Lee County Housing Finance Authority provides first-time homebuyers down payment and closing cost assistance through the FirstPlus Second DPA program. Program funds are first-come, first serve and are continuously funded. Please see the details below to learn more.
- Down Payment Assistance in the form of a 2nd mortgage, maximum amount of $10,000, bearing interest at a rate of 0%, 30 year, deferred (or due upon sale, refinancing, transfer of title, or rental of the home if done within first 30 years).
- Competitive 30-year fixed mortgage rate
- No asset limits for homebuyers
- Eligible Loan Types: FHA, VA, USDA-RD
- Home must serve as the primary residence
- Borrower(s) must occupy property within 60 days of closing
- Homebuyer education not required but recommended ( links )
- Eligible Areas: Lee, Broward, Charlotte, Collier, DeSoto, Glades, Hendry, Palm Beach and Sarasota Counties in Florida
- First-time home buyers – Applies to all borrower(s) & spouses (occupant or non-occupant). Cannot have owned a home within the past three years
- Must be able to permanently reside in the U.S.
- Maximum income limits for eligibility
- FICO Score must be 640 or higher, DTI requirement is 45%, and borrower(s) must meet normal FHA, VA or USDA-RD underwriting requirements
If you would like to see if you qualify for one of these programs, please click here (http://www.firsthome4u.com) to view more details and find contact information for approved participating lenders.