Florida Homebuyer Opportunity Program
The Sarasota Office of Housing
and Community Development (OHCD) is now accepting applications
for the Florida Homebuyer Opportunity Program. The program
provides up to $8,000 in purchase assistance to first time
homebuyers that are eligible to receive a federal first time
homebuyer tax credit created through the American Recovery
and Reinvestment Act of 2009. The assistance is a loan and
is to be repaid when the applicant receives their homebuyer
tax credit from the federal government.
Individuals who are applying
for the $6,500 tax credit for repeat homebuyers are not eligible
to receive a Florida Homebuyer Opportunity Program loan.
Funds may be used to purchase
new and existing single-family homes and condominiums.
The income limits for the Florida
Homebuyer Opportunity Program are $75,000 for a single filer
and $150,000 for a joint filer. The maximum home purchase
price if $272,195. These income limits are lower than the
Homebuyer Tax Credit Program.
Applicants must apply through
their mortgage lender and have a home under contract.
The financial assistance provided
through the Florida Homebuyer Opportunity Program must be
repaid within 10 days after the applicant receives their federal
income tax refund or 18 months, whichever occurs sooner. If
the loan is repaid within this time, no interest will be charged.
Failure to repay the loan will result in severe financial
penalties as described in the program guidelines.
For more information, please
contact Cherry Haynes, 951-3640 ext 3768.
Program
Guidelines
FHOP
Forms & Lender Info.
Federal
Home Tax Credit Program Buyer Information
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