Refurbish Your House With A Florida First Time Home Buyer Program

There are many sources where you can get information all about Florida first time home buyer grants

. President Obama and Congress included in the economic stimulus package funding to help restore the stagnant residential real estate market. There are a myriad of zero or low interest mortgage loans with easy down payment requirements. This help is directed toward working families to encourages home ownership, keep high quality-of-life neighborhoods, and restore our economy.

The federal government distributes the funds to local, county and state units of government, who manage the various home buyer assistance programs. There are strict eligibility requirements. Documentation to support your application must be submitted. As you probably can imagine, there is a lot paperwork and bureaucracy involved. Fortunately, you can hire a mortgage broker or a real estate agent to navigate the application process. The real estate seller pays the real estate agent so it does not cost you anything to use a professional.

Most of the time the most difficult thing for a first time buyer is having a large enough down payment. There are programs to address this hurdle. Try to find a grant that will pay several thousands of dollars towards your down payment. The nice thing about a grant is that they do not have to be paid back. Most of the time, the total down payment necessary is greatly reduced.

A mortgage can be structured so that part of the principal does not have to be repaid until the property is sold. It is common to see part of the mortgage at a zero or very low interest rate, which makes for a low monthly payment. The lower interest rates creates a more affordable monthly payment for working families.

Besides help for first time home buyers there is also help renovating and refurbishing your current home in case you already own a home. You can put on a new roof, increase your energy efficiency, replace windows - just about anything qualifies if it improves your home. These renovation programs have helped maintain quality neighborhoods and have improved community development.

Your best way to get started is to find a good real estate agent or mortgage broker. It is possible to do it on your own but it is not recommended. You should begin to gather the documents you will need. You will need copies of your tax returns for the past two years. You will have to provide a financial statement that lists all your assets and debts. Gather all your credit card statements and such so you will be ready to complete the paper work.

The best way find a broker is through personal references by friends, co-workers, and family. You will want someone whom you can trust and with whom you feel comfortable with. Find a good real estate attorney too. Your real estate attorney must review and approve any legal documents before you sign them.

You should have a pretty good understanding all about Florida first time home buyer grants, so you can get started without delay. First obtain that trusted real estate broker, begin getting your documents together, and you are on your way. Do not miss out on these great deals. Help restore our economy. Get your new home!

by: Ed Muransky

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