| If you are interested in owning your
own home, the City of North Lauderdale has funds available
for down payment, and closing costs to low-income eligible
homebuyers. This assistance will help you to purchase a unit
located anywhere in the City of North Lauderdale, if you have
not owned a home within the last three years. Down
payment and closing cost assistance is in the form of a no-interest
deferred loan. Since this is a deferred loan program,
owner occupancy for five years after closing on the home is
required. The loan is reduced automatically each month that
you occupy your home for those five years, in the instance
that the five-year requirement is not met, you will have to
payback the entire loan amount. Minimum cash required as your
contribution towards the down payment is $1,000 and you must
already be qualified for a thirty (30) year fixed rate first
mortgage with an escrow account. The
program will provide a higher amount of funding, for purchasing
in the following areas of the City: Seaview/Silverado, Lauderdale
North Park Section 5, Silver Lakes and Patron Village.
Eligibility: Your household income may
not exceed the income limits below. Household-Size
Income Eligibility
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
$34,350 |
$39,300 |
$44,200 |
$49,100 |
$53,050 |
$56,950 |
$60,900 |
$64,800 |
Application process:
Call (954) 724-7065 for information about the application.
As soon as your application is returned with all copies of
the required documentation, it will be reviewed for eligibility.
You must be pre-qualified for a first mortgage
prior to submitting your application for this program.
Click
Here For Homeownership Application |
