Community Redevelopment Agency Down Payment Assistance Program
The City of Orlando and the Community Redevelopment Agency (CRA) are committed to bringing quality and affordable housing options to downtown Orlando. In an effort to increase owner-occupancy of single family homes in the Parramore area, the CRA will provide down payment/closing cost assistance to purchasers of the CRA constructed homes. The amount of assistance will be based on the actual need of the applicant. This amount will be determined by the CRA in consultation with the lender.
Applicants must meet the below criteria to be eligible for assistance from the CRA:
- Be a first time homebuyer (not owned within previous 3 years) UNLESS you are a City of Orlando employee, teacher/school administrator, or public safety personnel
- Complete a first time home buyer education course by a HUD approved housing counseling agency
- Be able to obtain a loan commitment for a first mortgage with a fixed rate from a City of Orlando certified lender
- Maintain the home as applicant’s homestead/principal residence for a minimum of five (5) years
- Provide a minimum of $1,000 of household money toward down payment/closing costs
For more information on this program, contact the CRA at 407.246.2555.
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