JACKSONVILLE, Fla. — Buying a house can be intimidating especially if it's your first time shopping in the housing market. But, First Coast News is On Your Side, as we have some relief for first-time homebuyers.
The Florida Hometown Heroes Housing Program is accepting applications for first-time homebuyers and qualifying for the funding may be easier than what you think.
If you work a full-time job for a Florida employer, for Duval County residents, have a household income of less than $145,000 and a credit score higher than 640, you can get assistance for buying your first home.
Getting up to $35,000 just to buy a home may seem too good to be true, but Julia Sharp with Sharp Mortgages says the amount of funding you receive is on a case-by-case basis.
"Depending on how much the house is your buying, or what your financial situation is, it can really help you have money for furniture, or buy a house and not feel like you just drained your whole bank account," Sharp told First Coast News.
The Florida Hometown Heroes Loans Program can earn first-time homebuyers up to five percent of the first mortgage loan amount.
For example, borrowers with a loan amount for $200,000 or less would receive an automatic $10,000.
"Some people cannot qualify if it wasn't for this program," House & Haven Real Estate President of Business Development William Sharp explained. "I've worked with many buyers for instance when they've been through a scenario where they wouldn't be able to own a home, but through this program they've been able to have the funds up to $35,000 to buy a home where otherwise they would, could come to the closing table with nothing."
This program is being expanded all to reduce the upfront costs for first-time homebuyers.
"Buying a home doesn't have to be as draining as you may think because there's these funds that are covering majority, if not all of your down payment and then having some left over for the closing costs," said Julia Sharp, a mortgage loan originator.
Over the past week, the funding has dropped from $100 million to now only $77 million left for Florida first-time homebuyers.
Click here to see your eligibility.