Homebuyer Purchase Assistance Program

• Buyer must qualify and secure first mortgage financing that meets Broward County guidelines
• Buyer to pay at least 25% but no more than 38% of their gross income for housing expenses
• Total debt (housing expenses + other debt) cannot exceed 45% conventional/46% FHA
• Buyer to contribute at least 3% of the purchase price: not applicable for VA loans
• Buyer may not have owned a residential property in the previous 3 years
• Buyer must use the purchased residence as their primary domicile for the loan term
  

• Single family, townhomes, villas, or condominiums within Coconut Creek
• Maximum sales price $568,557; value determined by a licensed Florida appraiser
• Lead Based Paint inspections required for all properties built before 1978

Next Steps:

• Meet with a residential mortgage lender to get pre-approved for a first mortgage loan
• Attend a Homebuyer Education class by a local HUD certified agency
• Visit County website or HUD.gov for a list of HUD agencies
• Lender is to contact Broward County HFD when the mortgage is pre-approved and a Coconut Creek property is identified. Lender submits the package on behalf of the buyer. 
• Funds are expended on a first-come, first-qualified, first-served basis, when available
• Other terms may apply and are subject to change without notice