Florida Hometown Heroes Cons 💰🏠🏢🤝

FLORIDA HOMETOWN HEROES CONS
*The DPA funds are never forgiven, and require payment when:
-the first mortgage is refinanced
-the home is no longer occupied as a primary residence
-the home is sold
-the deed to the house is transferred
*Cannot be used to cover appraisal gaps
*Interest rates for the first mortgage are set by the state of FL and are higher than market rates
*Lower Debt to Income limits so borrower aren’t able to qualify for as much as the could otherwise
*640 minimum credit score instead of normal 580

If/when interest rates drop, it could be difficult to refinance since borrowers will need to pay off the existing first mortgage, second mortgage and settlement costs and they may not have enough equity in their homes to do that💡

RESIDENTIAL • COMMERCIAL
Helping finance your property
for little to no money down even
with less than perfect credit.

Mobile/Text: 502.681.9988
Office/Text: 941.315.7377

💰🏠🏢🤝
#TrustIsKey
NMLS# 1673646

**Equal Housing Opportunity**