Sarasota County Offers Down Payment Assistance to First-Time Homebuyers
Posted by Bill True on
Calling all first-time homebuyers in Sarasota County! Looking for an extra incentive to take the leap and purchase your first home? Sarasota County officials are proud to announce that eligible first-time homebuyers have an opportunity to receive up to $30,000 in down payment assistance!
Many first-time homebuyers refrain from buying sooner because they claim trying to save for the 20% down payment required by most lenders is too much. Sarasota County developed this down payment program after it received $650,000 from the State Housing Incentives Partnership Program. Think this might be something you’d like to take advantage of? To be eligible and to participate in the program, Buyers can only spend a maximum of $175,000 on purchasing a house or condo, 3% of the total purchase price must be covered by the Buyer, closing costs and prepaid expenses paid through the program cannot exceed $4,375, and program applicants must attend a home buying class put together and presented by the department of housing and urban development.
Sarasota County officials will be ready to accept completed application on September 2nd and eligible applicants will be selected on a first come first serve bases. So what are you waiting for! For additional information and the application for the program can be found here: http://sarasotagov.org/OHCD/DownPaymentAssist.cfm