Tag: hurricane michael recovery loan program
Patronis joined Gov. Ron DeSantis and legislators from the Panhandle in announcing the relaunch on Monday.
Expected to launch September 1, the Hurricane Michael Recovery Loan Program will offer below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualified homebuyers. DPA loans will be zero percent interest, non-amortizing and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home.
The Florida Housing Finance Corporation (Florida Housing) announced this week that it has approved 118 loans totaling more than $1.7 million to help residents of the Panhandle buy new houses in the aftermath of Hurricane Michael.