Connect with us

Hi, what are you looking for?

Florida Politics

Ron DeSantis Showcases New Homeownership Loan Programs for Floridians Hit by Hurricane Michael

“The Homeownership Loan Program (HLP) will offer a favorable 30-year fixed rate first mortgage coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualifying homebuyers up to 140 percent AMI,” the governor’s office noted.

Share Story Via Text, E-Mail, Facebook or Twitter

This week, Gov. Ron DeSantis unveiled new homeownership loan programs for Floridians impacted by Hurricane Michael which hit the Panhandle back in October.

The Florida Housing Finance Corporation (Florida Housing) announced two new programs on Tuesday. Both of the new programs are expected to launch in June.

The governor’s office offered some of the details on the new programs on Tuesday.

The Homeownership Loan Program (HLP) will offer a favorable 30-year fixed rate first mortgage coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualifying homebuyers up to 140 percent AMI,” the governor’s office noted. “DPA loans will be at zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home. A total of up to $5 million in DPA will be available and may be used in conjunction with a variety of first mortgage products, including Veterans Affairs (VA) loans. Those eligible do not have to be a first-time homebuyer to qualify for this program, though the home must be owner-occupied.

“The Homeownership Pool (HOP) Program will also launch in June and will create a $1 million pool of federal (HOME) funds to be made available to Hurricane Michael impacted counties for new single-family housing. Homebuilders who participate in this program can use up to $35,000 in down payment and closing cost assistance loans (DPA) to assist homebuyers in qualifying to purchase these new homes. The DPA loans assist borrowers at 80 percent area median income (AMI) and below and are zero percent interest, non-amortizing and due on sale, refinance or non-owner occupancy,” the governor’s office added.

“When I first took office, I asked the Florida Housing Finance Corporation to come up with additional ways to assist counties devastated by recent hurricanes,” said DeSantis. “I’m pleased to report that the Florida Housing Finance Corporation is moving ahead with two new loan programs that will assist impacted counties and the victims who have been displaced by Hurricane Michael. Housing remains among the most serious concerns as Northwest Florida continues to rebuild and recover and my administration remains committed to the full recovery of these communities.”

“Florida Housing is proud to work alongside Governor DeSantis, state, and local officials to provide safe, decent affordable housing for Floridians,” said Trey Price, the executive director of the Florida Housing Finance Corporation. “These homeownership and down payment assistance programs will help the rebuilding of these Panhandle communities and for families to achieve the American Dream affordably.”

Author

  • Florida Daily

    Florida Daily offers news, insights and analysis as we cover the most important issues in the state, from education, to business and politics.

    View all posts
Share Story Via Text, E-Mail, Facebook or Twitter

Follow Us on Social Media

Ed Dean: Publisher

 

Ed Dean is a leading radio and news media personality including hosting the #1 statewide radio talk show in Florida. Contact Ed.Dean@FloridaDaily.com

Article Archives

Related Stories

Lead

Whether you are a resident of the state of a visitor, drivers crossing into the state will now see new Florida signs that read,...

Florida Politics

This year, Florida Gov. Ron DeSantis vetoed 14 bills proposed or co-sponsored by state GOP lawmakers. Issues from the state budget to local property...

Education

(adsbygoogle = window.adsbygoogle || []).push({}); Florida Governor Ron DeSantis announced the appointment of Dr. Alberto Tano to the Florida International University Board of Trustees....

Economy

Florida Gov. DeSantis vetoed Senate Bill 280, which would have allowed the state to impose stricter regulations on vacation rentals Over the last few...

Florida Politics

Getting your Trinity Audio player ready... Florida Gov. Ron DeSantis signed the following bills: HB 799 – Easements Affecting Real Property Owned by the...

Elections

Getting your Trinity Audio player ready... A poll known for right-leaning sample audiences revealed recent poll numbers that show 80% of voters surveyed said...

Elections

There seems to be some confusion between the Biden Campaign and Florida Democrats regarding their role in Florida’s 2024 election. Puck News reports that...

Florida Politics

Getting your Trinity Audio player ready... Florida Governor Ron DeSantis awarded funds for infrastructure improvements through the Florida Job Growth Grant Fund (JGGF). Awards...