SHIP funds to help homebuyers
Jul 3rd, 2009 | By bea | Category: Bradenton, Buyer Advise, FinancingThe City of Bradenton Housing and Community Development Division has about $130,000 available to help residents make down payments on houses if they qualify.
The funds are part of the $482,236 in State Housing Initiatives Partnership (SHIP) funding from the Florida Housing Finance Corporation that the City received for the 2008-09 program year.
To qualify, the applicant must be earning up to 80% of the Area Median Income but the maximum annual income must not exceed the following limits:
Family size
1 Person/$34,900
2 Persons/$39,900
3 Persons/$44,850
4 Persons/$49,850
5 Persons/$53,850
6 Persons/$57,850
7 Persons/$61,800
8 Persons/$65,800
The City will accept applications for the housing rehabilitation assistance program from Aug. 3-13.
Applicants must complete a first-time homebuyer’s class and be approved for a mortgage prior to applying. Applications submitted after the deadline will not be considered. Down payment assistance will be awarded on a first-come, first-ready basis to persons owning homes within the City limits.
Source: www.cityofbradenton.com
