Profile picture for daydr3am

Are there any buyer's agents in the Orlando area familiar with down payment assistance programs?

Specifically, I'm interested in finding someone who has experience with Orange County's neighborhood stabilization program. Please contact me!
  • June 30 2010 - Orlando
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Answers (3)

I agree with Jeff and thumbs up here also. Aside from that,the finance options are FHA's at 3.5% down unless you're a veteran, then it's 0% down on VA loans. Also, since we're in a Buyer's Market, your agent can always negotiate closing costs so the Seller pays all or partial costs.

Another idea is to look into HUD homes since they can be obtained for a lower price. Some are financeable and require little investment.

If you're interested in knowing more or need help, feel free to contact me. I'm in the Central Florida/Orlando area.
  • June 30 2010
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Profile picture for Mark LeMenager
Great answer Jeff, got a thumbs up from me.  Let me add that other than Celebration, virtually all of Osceola County qualifies for NSP as well.  However, be prepared to wait a while for your qualification papers.  My current clients were approved three weeks ago, but still don't have the necessary certificates to make an REO offer.
  • June 30 2010
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THE FOLLOWING INFORMATION WAS TAKEN FROM THE ORANGE COUNTY GOVERNMENT HOUSING DIVISION WEBSITE.




The Neighborhood Stabilization Program (NSP) was created by the Housing and Economic Recovery Act of 2008 to respond to rising residential foreclosures and property abandonment. The main purpose of the NSP is to stabilize neighborhoods negatively impacted by foreclosures. Orange County will use NSP funds to acquire, renovate, and sell foreclosed homes at affordable prices to eligible families.

What areas qualify under the NSP?

In order to have the most positive impact on neighborhoods hardest hit by foreclosures, five geographical areas were selected to participate in the NSP program for home purchase and mortgage assistance. They are the following:

1. Pine Hills 2. Azalea Park 3. Union Park 4. Holden Heights / Oak Ridge 5. Meadow Woods

Homebuyers can choose one of the following options
to purchase foreclosed homes under NSP

OPTION A

Buy foreclosed homes that have been purchased by the County and completely renovated. These homes will be equipped with Energy Star appliances. Downpayment assistance of up to $20,000 will be available based on eligibility.

OPTION B

Purchase foreclosed homes in NSP areas with your realtor and qualify for NSP downpayment assistance. Downpayment assistance of up to $20,000 will be available based on eligibility.

  • June 30 2010
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