Do you know that Florida provides a program that pays first-time homebuyers up to $2,000. a year, for up to 30 years?
The state-run Florida Housing Finance Corp., offers first-time homebuyers money back each year, based on how much interest they pay on their mortgage.
Once approved, homeowners can claim up to half of their mortgage interest paid as a tax credit on their federal income tax return, the credit is capped at $2,000 each year.
Remember, any additional mortgage interest not included in the Mortgage Tax Credit, can still be deducted on your federal income tax return.
Although the average 30-year fixed-rate mortgages are on the rise, rates are still well below previous decades.
To qualify in Broward, income must be less than $82,800 a year for one to two people in a household or $96,377 for three or more. Home purchase price must be less than $337,500.
In Palm Beach County, income must be less than $76,156. a year to qualify for one to two people in a household or $87,579. for three or more. Home purchase price must be less than $325,301.
(Qualifying income and purchase price maximum are subject to change.)
You will need to take a class to receive this money.
Here is the link forDebtHelper.com's portal for the eHomeAmerica online homebuyer education course:
The Cost is $125.00 to complete the class.
Classes are to be taken only from the below providers:
1) Face to face from aHUD approved education provider
2) Online education ONLY from: www.eHomeAmerica.org
3) Online education ONLY from (MGIC Homebuyer Education for Freddie Macs Home Possible Program and certain HFA's):
For more information, call Laurie, your friend in the real estate business.