How Do I Qualify for Downpayment Assistance for First Time Home Buyers in Volusia County, FL?
As of 2015, to qualify for Volusia County, Florida’s Downpayment Assistance Program for First Time Home Buyers, you must meet all of the following criteria:
- You must qualify for a first mortgage through a certified Volusia County Lender
- You must have a minimum credit score of 640
- Your income cannot exceed Volusia County program limits
- You cannot have owned a home in last 3 years
- You cannot have defaulted on a mortgage within the last 7 years
What Properties are Eligible for Volusia County, FL Downpayment Assistance?
- The maximum sale price, regardless of the property type, cannot exceed $138,000
- Single family homes are eligible
- Condominiums are eligible
- Modular homes are eligible
- Mobile homes are not eligible for downpayment assistance
What Conditions are Placed on Downpayment Assistance in Volusia County, FL?
- Assistance cannot exceed $25,000
- No cash can go to the borrower
- Closing cost assistance cannot exceed $3,000