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1
Using a BIG bank

Bigger the bank, higher the rate. Buyers get marked up retail rates to offset the bank's overhead.

2
Afraid to shop around

Buyers falsely believe multiple credit inquiries will negatively impact their score and ability to qualify.

3
Paying closing costs

Most FHA buyers end up refinancing later to get away from PMI, so why pay closing costs twice?

Top 3 first-time home buyer mistakes

Don’t make these common first-time home buyer mistakes. It could cost you thousands and we see them made everyday.

Top 3 first-time home buyer mistakes

Don’t make these common first-time home buyer mistakes. It could cost you thousands and we see them made everyday.

1
Using a BIG bank

Bigger the bank, higher the rate. Buyers get marked up retail rates to offset the bank's overhead.

2
Afraid to shop around

Buyers falsely believe multiple credit inquiries will negatively impact their score and ability to qualify.

3
Paying closing costs

Most FHA buyers end up refinancing later to get away from PMI, so why pay closing costs twice?

Florida County By County Downpayment Assistance Information

Orange County, FL

  • Cannot have owned a home in last 3 years
  • Minimum credit score of 640
  • Residency in Orlando metro area in last 12 months
  • Provide $1,000 or 1.75% of the purchase price, whichever is higher
  • Income cannot exceed Orange County program limits

Seminole County, FL

  • Cannot have owned a home in last 3 years
  • Minimum credit score of 640
  • You must have a purchase contract on a home located in Seminole County
  • Assistance cannot exceed $50,000
  • You must be a legal U.S. resident
  • Income cannot exceed Seminole County program limits

Volusia County, FL

  • Cannot have owned a home in last 3 years
  • Minimum credit score of 640
  • Total assistance cannot exceed $25,000
  • Closing cost assistance cannot exceed $3,000
  • You must be a legal U.S. resident
  • Income cannot exceed Volusia County program limits

Florida FHA Guidelines Made Simple

Florida Home Funding’s FHA loan expert breaks down what you need to know about Florida FHA guidelines in less than a minute.

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