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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

What are the Maximum Downpayment Assistance Amounts for Volusia County, FL?

Very Low
Low
Moderate

$25,000

$20,000

$15,000

What is the Minimum Downpayment Required for Assistance for Volusia County, FL?

Very Low
Low
Moderate

$500

$1,000

$1,500

What are the Income Guidelines for Downpayment Assistance in Volusia County FL?

Household Size
Very Low

50% of Median Income

Low

80% of Median Income

Moderate

120% of Median Income

1

$18,800

$30,100

$45,120

2

$21,500

$34,400

$51,600

3

$24,200

$38,700

$58,080

4

$26,850

$42,950

$64,440

5

$29,000

$46,400

$69,600

6

$31,150

$49,850

$74,760

7

$33,300

$53,300

$79,920

8

$34,450

$56,700

$85,080