PURPOSE OF THE HOMEBUYER ASSISTANCE PROGRAM

The OHA homebuyer assistance program was designed to provide funds to qualified first time homebuyers  who otherwise would not be able to purchase a home.  Through the   U. S. Department of Housing and Urban Development (HUD) , OHA is able to offer no interest second mortgages to bridge the gap between the home sales price and available first mortgage for eligible families.  Funds are issued on a first come first  served basis.  In addition to financial assistance, the OHA Homebuyer Assistance Program provides participants with information, counseling, homebuyer training, referrals to other agencies and assistance in determining their readiness to become a homeowner. The OHA is committed to helping income eligible residents to achieve the American Dream of owning their own home.

 WHO IS ELIGIBLE?

Any qualified resident of Orange County, Florida or member of a program preference group, who meets the income eligibility standards and other program requirements is eligible to apply for the OHA Homebuyer Assistance funds.   

Income Requirements
The income eligibility requirements are based on family size and total family income.  The family income must be between 60% and 80% of the median income for the Metropolitan Orlando area and  must fall within the ranges below:
 

Family Size

1

2

3

4

5

6

7

8+

Minimum Income

$24,863

$28,425

$31,950

$35,513

$38,363

$41,213

$44,025

$46,875

Maximum Income

$33,150

$37,900

$42,600

$47,350

$51,150

$54,950

$58,700

$62,500

* Above are HUD income limits for 2008— subject to change upon notice from the OHA or HUD.

 Other Eligibility Requirements
There are other requirements that must be met in addition to the income requirements to be eligible for participation in the OHA Homebuyer Assistance Program.   To be eligible the applicant must: 

q Not have owned a home within the last three years

q Have been employed full time for the last two years

q Be able to secure first mortgage financing

q Provide $1000 or 1% of the sales price of the home for down payment (whichever is greater)

q Complete HUD approved Homebuyer Training Course

q Commit to occupying the home you are purchasing (All co-borrowers)

q Commit to attend post purchase counseling

q Agree to abide by the program requirements

 

CARVER PARK FOR SALE HOMES

The homes available are newly constructed homes in the Carver Park Development located on Gore Street in the City of Orlando.  Single family detached homes, townhouses, row houses and duplexes are available.