Pinellas County Lowers Interest Rates for First-Time Homebuyers

The Housing Finance Authority of Pinellas County has lowered the interest rate on its First-Time Homebuyers Program to 3.75 percent. The 30-year, fixed-rate mortgage program is for individuals in Pinellas, Pasco and Polk counties who have never owned a home, have not owned a home in the last three years or are veterans.

 Down payment and closing cost assistance is also available with the Home Key Plus 2^nd mortgage. Rates and terms vary. Borrowers must have a minimum credit score of 640 and are required to take a free homebuyer education class.  Details are available at   http://www.pinellascounty.org/community/hfa/pdf/first_mortgage.pdf.

 Veterans and active military personnel interested in homeownership will want to check out the county’s newest housing initiative for veterans, Proud Ground Pinellas. The program offers a 30-year fixed rate mortgage at 3 percent. A grant of up to $10,000 for closing costs is also available to qualified individuals. Details on that program are available at   www.pinellascounty.org/community/proudgroundpinellas.htm

 Certain income limitations apply for each program.  For additional information, contact the Housing Finance Authority of Pinellas County at (727) 464-8210.

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