Last week I learned something NEW that I may be a misconception with many people. I have always assumed (yes, I know that is my first mistake) that a FIRST TIME HOME BUYER was someone who has never owned their own home. But I was educated by a lender and want to reach out to everyone I know currently RENTING to make sure they know buying could be an option for them even without a large sum for downpayment and perhaps even an exemption from the monthly PMI. Check out the definition of what qualifies as a first time home buyer and see if you could in fact be qualified to buy and put your days of renting behind you!
HUD DEFINITION OF FIRST TIME FLORIDA HOMEBUYER:
A. Is an individual who has not had an ownership interest in a principal Florida home during the last 3 years. This includes a spouse they are considered Florida first-time Florida homebuyers.
B. Single parents are first time homebuyers if they have only owned a Florida home with a former spouse while married or a single parent who has only owned with a former spouse while married is also considered a first time Florida homebuyer.
C. A first time Florida homebuyer is one who is one who has been a displaced homemaker and has only owned a Florida home with a former spouse.
D. A first time Florida homebuyer is an individual who has only owned a principal Florida home not permanently affixed to a permanent foundation in accordance with applicable regulations.
E. A Florida first time homebuyer is an individual who has NOT owned a Florida home that was in compliance with Florida State, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent Florida home.
Author:David and Leslie Miller Phone: 850-499-4162 Dated: March 5th 2018 Views: 93 About David and Leslie: South Walton became my home over 12 years ago when David and I married and chose to settle and raise...
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Coming from the suburbs of Birmingham, Alabama to live on the Gulf Coast for the past 31 years from Pensacola to Mobile and now to Walton County, my wonderful husband and I continue to enjoy the slower pace and southern hospitality. When our son joined the Navy in 2011 we chose to write the next chapter of our adventure here; to our delight, this place we enjoy as home has offered more surprises with community and values that make it even more special than we imagined.
With a 12 year background as a mortgage loan officer, it has been important to me to understand the many facets of this Florida market of primary residences, second homes and investment properties. As a result, I pursue community activities and I continue to learn by earning my designations of CLHMS (Certified Luxury Home Marketing Specialist) and GRI (Graduate, Realtor Institute).
I’d love to help you find your “HOME” here whether from Destin, Sandestin to Santa Rosa Beach and 30A… “There’s No Dream Too Big and No House too Small”