Here is a place to do your homework on the local first time homebuyer programs for Pinellas County. These programs are designed to assist you in buying your first home in the area. These programs change from year to year depending on the funding provided. Which program applies to you is usally determined by where you are going to buy your home.
Here is an example of the program for Largo in 2006.
Minimum income is $12,000 per year, maximum income is 80% of the Median Family Income. Level A assistance provides $35,000, Level B provides $25,000, Level C provides $10,000. Property must be located in the City Limits of Largo. Maximum purchase price is $190,000. PITI ratio should not exceed 33%. This is an interest free loan with no monthly loan payments required. Payments are deferred until the property is sold, rented, refinanced, assumed or the mortgage has been paid in full. The buyer must be a First-Time HomeBuyer (has not owned a property in the last 3 years).
Doesn't that sound interesting?????
Below are 3 links that will take you to various agencies that directly help First-Time HomeBuyers. Please check with them for the current programs and qualifications. Most organizations will require you to take a class so that you understand the process and the finances involved with buying a home. This is a GREAT way to get into your first home. I highly recommend to all my first time buyers to take this class. In fact, if you choose not to, I may elect to not help you find your first home.
