100% Financing available for Teachers and all State and County School System Employees
The following Counties: Orange, Seminole, Osceola, Palm Beach, Lake, St. Lucie, Clay, Duval, Volusia, Collier, Lee, Charlotte, Hillsborough, Desoto, Manatee, Sarasota, Polk, Pinellas, Hernando St Johns, and Pasco Counties.
- 30-year first mortgage loans. Either 10-year, 15-year, 20-year, or 30-year fixed rate or 7/1, 3/3 Adjustable Rate Mortgages (No Balloon Payment necessary, 30-year amortization schedule even on adjustable rate mortgages.)
- The program is offered to all County, City, Municipal and State of Florida school employees from Principle to Custodian and who meet borrowers who meet income, purchase price, and other program guidelines and can qualify for a mortgage loan.
- Finance 100% of the purchase price.
- Possibly qualify for $3000 Lender credit in closing cost assistance depending on loan version.
- This program allows for higher borrower income limits.
- This program can only be used in the 21 approved Florida Counties.
- Maximum LTV 100% up to a $250,000 loan. Homes that cost more than $250,000 would require the difference to be paid in cash or 97% LTV up to a $300,000 mortgage loan.
- 1 unit only - Single Family Residence, Townhouses & some Condos possible.
- No household income limitation- Only Applicant income for qualification purposes.
- NO mortgage insurance for Borrower with this Conventional type program.
- Seller contribution 3% maximum towards Buyers closing costs.
- Purchase only, no construction to permanent loans - no investment properties.
- Owner Occupants only-No Investors.
- Cannot own any FINANCED real estate at the time of application.
- Good verifiable work history required.
- No First Time Home Buyer requirement and No Buyers Education Classes required.
- Gift Funds allowed.
- Buyer must have at least $1000 for Closing Costs in the transaction. The Earnest Money can be used for the $1000 requirement.
- No cash back at closing.
