Most of the first time homebuyer programs only require that you haven't owned a home within the last three years! If this describes you and you would like to buy a home, please read on.
There are numerous programs available for the purchase of homes in Pinellas County including grants and low-interest loans and no-interest loans. There is downpayment assistance up to $50,000. There are programs for people at most income levels, so don't think you do not qualify unless you have first spoken with a mortgage broker or loan officer who knows.
Example: Recently, a single woman received $50,000 to help her get a 2-bedroom condo in the mid-$100,000's.
Example: Recently, a man got a mortgage for around 5.5% as a fixed rate loan on one of these programs.
Some of the programs are "by city", which means that you can get more (or less) depending on the city your house will be in. There are also some special "target areas" where there is more money/assistance available to people moving into those areas.
Call me or contact me via email if you would like to purchase a home and you want to find out more about how these programs can help YOU.
Sincerely,
Ruth Lorenzen
St. Petersburg offers a variety of financial assistance programs available to qualified home buyers who purchase within the city limits.
Click here to see the brochure.
Despite the doors it can open for first-time buyers, many consumers still don't know about the $8,000 tax credit.
The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.
The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. The credit does not require repayment. Most of the mechanics of the credit will be the same as under the 2008 rules: the credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
Download the IRS First-Time Homebuyer Tax Credit Form 5405 (PDF)