First Time Home Buyer Program
Thanks to a special loan partnership between the Housing Finance Authority of Broward County and local home mortgage lenders, first time home buyers purchasing in Broward County now have a chance to own a home of their own at below-market mortgage rates. If you are a first time home buyer looking for a manageable mortgage, the First Time Home Buyer Program may make it possible for you to buy the home you want.
Our Applicant Instructions can be requested by calling our office at (954) 357-4900 or you can conveniently download them at www.broward.org/housing. Attend a HUD Counseling seminar before you submit all requested documentation and the appropriate application fee to the lender of your choice.
- Below market fixed mortgage interest rate
- Private Mortgage Insurance (PMI) is not required
- Down payment is 3% of real estate contract sales price. One percent (1%) of the down payment funds must come from your own savings and cannot be borrowed or received as a gift.
- A comprehensive Home Inspection report is required.
- Borrower pays a $750 transaction fee to the Housing Finance Authority of Broward County.
- You may purchase an existing home or a new construction home
- You must owner occupy the home as your primary residence.
- Eligible properties include single family residences, condominiums, villas and town homes located within Broward County. Mobile homes and cooperatives are not program eligible properties.