Purchase Assistance/Down Payment Assistance
The Purchase Assistance Program provides first-time homebuyers that are at or below 120% of the Orlando-Kissimmee Metropolitan Statistical Area (MSA) with an interest-free deferred forgivable loan that may be applied towards down payment, closing costs, and principal reduction for eligible housing. Eligible housing may include new or existing homes. This is a firsttime homebuyer strategy, consistent with federal and State housing programs definitions of “first time”.
Priority of Assistance
Assistance will be on a first-come, first-qualified, first-served basis while funds are available. The Housing and Community Services Department may give priority to very low and low-income homebuyers and limit the amount of assistance provided to higher income households to meet funding requirements. Should funds not be available or the number of homebuyers exceeds the program’s service capacity a waiting list will be established.
Please refer to the documents below for information and guidelines regarding the Down Payment Purchase Assistance program.