The first time home buyer is back in the game.
With the low interest rates and affordable housing now available in Hillsborough county now is a great opportunity for all the first time home buyers.
Hillsborough County’s First Time Home Buyer Program provides downpayment Assistance, Closing Cost Assistance and Homeownership Education. These funds are provided by Hillsborough County through (SHIP) Program and through the HOME Investment Partnerships (HOME) Program.
This assistance is provided in the form of a 0% interest, deferred payment loan payment. This means that there is no interest accrued and no payments are made during the life of the loan. The DPL is a second mortgage with a 30 year term. If ownership is maintained for the full term of the loan, then the second mortgage with Hillsborough County is forgiven and repayment is not necessary.
If you are a first time buyer in Hillsborough county there are some great programs offered by the county to assist in down payment assistance and education on the home buying process. For more information on the Hillsborough county first time home buyer programs contact your favorite Tampa Realtor experts today!
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{ 3 comments… read them below or add one }
Sweet deal. What I’d give to get my county thinking that way. A lot of people are looking at the economy negatively right now. I think there are plenty of opportunities for many people to get into great houses with great rates.
There just aren’t enough of these programs at the local level, in my opinion. Kudos to Hillsborough County for caring about their local economy. One can only hope there will be an increase in these programs going forward, in the wake of the housing crisis. A little education could go a long way in preventing a recurrence of the mess we are in right now. Nice work. ~Brandon
I love these 1st-time buyer programs. You have to watch out for the recapture tax if they do not stay in the house for the required amount of years. In my real estate experience the recapture tax is usually minimal and the benefits of this type of incentive almost always out weigh the negative.