- Buyers cannot currently own a home.
- Buyers must be able to obtain mortgage financing.
- Buyers must have a minimum credit score of 640.
- Buyers must complete a homebuyer's education class and obtain a certificate.
- Buyers must contribute in cash 3.5% of the sales price toward the purchase of the home for FHA loans.
- INVESTORS ARE NOT ALLOWED to participate in this program.
- Buyers must meet the following income guidelines (see Income Chart below)
Orange County Florida Income Guidelines Chart |
| Household Size |
Very Low |
Low |
Moderate |
| 1 |
$20,450 |
$32,700 |
$49,080 |
| 2 |
$23,400 |
$37,400 |
$56,160 |
| 3 |
$26,300 |
$42,050 |
$63,120 |
| 4 |
$29,200 |
$46,700 |
$70,080 |
| 5 |
$31,550 |
$50,450 |
$75,720 |
| 6 |
$33,900 |
$54,200 |
$81,360 |
| 7 |
$36,250 |
$57,950 |
$87,000 |
| 8 |
$38,550 |
$61,650 |
$92,520 |
2. Homebuyer incentives and benefits
NSP homebuyer assistance up to $20,000 is available based on
income and household size.
| Very Low Income |
Low Income |
Moderate Income |
| Up to $20,000 |
Up to $15,000 |
Up to $10,000 |
To apply for NSP Homebuyer Assistance, fill
out the NSP Application forms with your mortgage broker/lender.
Home renovations
Homes purchased by Orange County are renovated by licensed contractors and if needed will include energy efficiency improvements and updated appliances.
Resale provisions
Orange County will utilize a second mortgage with a 15 year term at
0% interest. The amount of the second mortgage will be equivalent to the
NSP homebuyer and closing cost assistance provided by Orange County.
Re-payment will not be required unless the property is sold, rented, or
refinanced without prior approval of Orange County or ceases to be owner
occupied during the lien period.
3. In order to apply for a NSP home, buyer must:
Be pre-qualified for a first mortgage by a mortgage lender
and have a licensed realtor representing you.
Need help finding a Realtor? (Orlando Regional Realtor Association)
www.orlrealtor.com
Need help finding a Mortgage? (Florida Association of Mortgage Professionals)
www.famb.org
- Complete a Homebuyer's Education program (valid for two years)
offered by the following organizations:
For additional information
Administrative Specialist
(407) 836-5171
