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.
- Click here to access the First Time Home Buyer Applicant Instructions.
- You must attend a HUD Counseling seminar prior to submiting requested documentation/registered lender fees.
- 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.