HOW TO QUALIFY ?

Potential buyers must meet income, asset and occupancy guidelines and all other HSCLT qualifying criteria.

Down Payment Assistance Program

Orange County Down Payment Assistance Program - http://www.orangecountyfl.net/housing
The purpose of Orange County's Down Payment Assistance program is to provide funds to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The program will provide assistance to qualified very low, low and moderate income persons in Orange County on a first come, first ready basis. The program also requires that potential homebuyers complete a pre-purchase and post-purchase education program.


The buyer must  

• Meet the income requirements. Annual household income cannot exceed 120% of the area median income.
• Provide at least $1,000 of their own funds.
• Complete a home buyer's education seminar.
• Secure first mortgage financing.

The property must

• Be new or existing and located in Orange County, outside the city limits of Orlando.
• Not exceed a sales price of $219,000.
• Receive competitive fixed rate financing.
• Be fee simple ownership.

The assistance

• Ranges from $20,000 to $35,000 depending on household income.
• The County's assistance is provided to the buyer's closing agent at closing in the form of a soft second mortgage at 0% interest which is forgiven after fifteen (15) years if the home remains owner-occupied.
• In addition, the total first mortgage and Orange County's second mortgage may not exceed 105% of appraised value.
• 2007 Down Payment Assistance Brochure in English (PDF - 142KB)
• 2007 Down Payment Assistance Brochure in Spanish (PDF - 140KB)
• Orange County 2007 Income Limits Chart (PDF - 60KB)
• Manufactured Home Down Payment Program Flyer English(PDF - 152KB)
• Manufactured Home Down Payment Program Flyer Spanish(PDF - 224KB)

Your Credit

Under the Fair Credit Reporting Act, consumers may obtain a copy of their credit report by calling or
e-mailing one of the following:

AnnualCreditReport.com is a service for consumers to request their free annual credit reports.  It is maintained by the three nationwide consumer credit reporting companies: Equifax, Experian, and TransUnion.  

     Equifax                                                 Experian                                          TransUnion
www.Equifax.com                               www.Experian.com                              www.TransUnion.com
1-800-685-1111                                  1-800-397-3742                                     1-800-916-8800