The City of Orlando and the Community Redevelopment Agency (CRA) are committed to bringing quality and affordable housing options to downtown Orlando.
The CRA is seeking an interested home buyer for 732 Short Avenue, Orlando, FL 32805. The homes is appraised with a value of $205,000.
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 CRA Down Payment Assistance Program provides financial assistance to qualified buyers. Eligibility for the program is based on the following criteria:
- Be a first time homebuyer, unless you are a City of Orlando employee, teacher/school administrator, healthcare professional, 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 of at least $125,000 with a fixed rate from a City of Orlando certified lender and meet the following underwriting criteria: 1) housing expense ratio of 38% or less, 2) debt-to-income ratio of 45% or less, and 3) a minimum credit score of 640.
- Maintain the home as applicant’s homestead/principal residence for a minimum of five years.
The amount of assistance for these homes will be based on the actual need of the applicant, with a maximum funding of $80,000 per applicant. To find a list of approved buyer education courses and certified lenders, click here.
For more information on purchasing or previewing this home, contact First Capital Property Group at 407-872-0209 ext. 820.