Pinellas County Lowers Interest Rates for First-Time Homebuyers
The Housing Finance Authority of Pinellas County has lowered the interest rate on its First-Time Homebuyers Program to 3.75 percent. The 30-year, fixed-rate mortgage program is for individuals in Pinellas, Pasco and Polk counties who have never owned a home, have not owned a home in the last three years or are veterans.
Down payment and closing cost assistance is also available with the Home Key Plus 2nd mortgage. Rates and terms vary. Borrowers must have a minimum credit score of 640 and are required to take a free homebuyer education class. Details are available at http://www.pinellascounty.org/community/hfa/pdf/first_mortgage.pdf.
Veterans and active military personnel interested in homeownership will want to check out the county’s newest housing initiative for veterans, Proud Ground Pinellas. The program offers a 30-year fixed rate mortgage at 3 percent. A grant of up to $10,000 for closing costs is also available to qualified individuals. Details on that program are available at www.pinellascounty.org/community/proudgroundpinellas.htm
Certain income limitations apply for each program. For additional information, contact the Housing Finance Authority of Pinellas County at (727) 464-8210.
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