New Program to Assist Broward County Home Buyers
The Broward County Housing and Community Development Division and the Housing Finance Authority of Broward County are offering a Single Family Bond Program that may help home buyers achieve the dream they thought was beyond their reach.
The 2006 Single Family Bond Program features low, fixed-rate mortgages and down payment assistance to qualified buyers. All options feature a 30-year, fixed rate first mortgage at 5.60 percent.
Among the first mortgage products offered is an 80/20 loan that permits 100% financing. Depending on household income, the 20 percent down-payment may be a zero percent, deferred payment second mortgage or a 20-year, amortizing second mortgage at a rate of 7.0%.
Program Features:
Household incomes may not exceed $72,720 for 1 or 2 person households or $84,840 for 3 or more person households
Purchase price for a home cannot exceed $525,090
The new or existing single-family home (attached or detached), condo or townhouse must be located in Broward County
You do not have to be a first-time homebuyer
Interested applicants may contact participating lenders to pre-qualify. A $225 bond program fee will be paid at closing. The first mortgage is exempt from documentary stamps and intangible taxes, allowing the homebuyers significant savings. Some second mortgages and notes may also be exempt.
For more information and a list of participating Single Family Bond lenders, interested persons can visit www.broward.org/housing, or call the Broward County Call Center at 954-831-4000.
| 
