Florida Housing Updates Down Payment Assistance Program Terms
TALLAHASSEE, FL - Florida Housing Finance Corporation (Florida Housing) is announcing updates to the Florida’s Hardest-Hit Fund Down Payment Assistance Program (HHF-DPA). This federal program, which currently provides up to $15,000 in assistance, will change terms in December. The program was implemented to prevent foreclosures by stimulating home purchase activity and stabilizing neighborhoods in certain counties that demonstrated high levels of housing market distress.
HHF-DPA has assisted first-time homebuyers in 11 of the following counties with down payment and closing costs: Brevard, Clay, Duval, Hillsborough, Pasco, Pinellas, Orange, Osceola, Polk, St. Lucie, and Volusia.
“Florida Housing will have provided more than 20,000 Floridians over $300 million in assistance through the HHF-DPA,” said Trey Price, Executive Director for Florida Housing. “We remain committed to increasing affordable housing opportunities throughout the state and look forward to serving homeowners and buyers through our many other programs.”
Florida Housing will continue to offer up to $7,500 in down payment assistance to eligible homebuyers through its statewide Homebuyer Loan Programs. In addition, interested homebuyers can reach out to their local Housing Finance Agency for other down payment assistance options.
As of October 31, 2017, 45,546 Florida families have received assistance through HHF programs. Distributing the funds two years ahead of schedule, Florida Housing has disbursed 87.7 percent of the $1.135 billion HHF funds allocated by the US Department of Treasury (Treasury).
To hear more participants discuss their experience with Florida Hardest-Hit Fund Programs, click here.
For more information about Florida Housing or the Affordable Housing Workgroup, visit www.floridahousing.org.