Finding enough money for a down payment on a new home, or for closing costs, can be intimidating and downright impossible when you’re on a limited income. If you need down payment assistance to buy a house in parts of Florida or California, you’ll be happy to learn that two programs are available.
Largo, FL Down Payment Assistance
As the fourth largest city in the Tampa Bay area, Largo, FL offers a down payment assistance program. With 0% interest and a 20-year deferred payment loan, the city of Largo can make your dream of homeownership a reality.
You can receive down payment assistance toward closing costs and the down payment towards a home purchase based on your income, as illustrated below.
< $55,700 assistance if household income below 80% median income
< $40,000 assistance if household income is 81-120% median income
< $15,000 assistance if household income is 121-140% median income
Limited funding is available on Largo’s down payment assistance programs, so reach out to the city’s program administrator at 727-442-7075.
Kings Canyon outside of Porterville, CA
Porterville, CA Down Payment Assistance
Porterville, CA, offers down payment assistance to first-time low-income home buyers. If you earn 30-80% of the median income, you can receive up to 35% of the purchase price of a home in the form of a low-interest loan. The maximum home purchase price is $275,000. The program allows you to use the financial assistance toward a down payment and closing costs.
To receive down payment assistance from the Porterville program, you must complete an 8-hour class and receive a certificate of completion.
Reazo looks forward to sharing more down payment assistance programs in the future!
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