City of Orlando Down Payment Assistance Program
Special Alert
Maximum Purchase Price
$349,525
Contact Info:
https://www.orlando.gov/Building-Development/Housing-and-Development-Grants-Incentives-and-Assistance 400 South Orange Avenue, 7th Floor, Orlando, FL 32801 407-246-4077
Limitations
Credit Score Requirements
Based on 1st mortgage requirements.
Deferred Payments?
Yes
Accepted First Mortgage Type:
Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA, USDA / RD
Homeowners Education Class:
Required
Is Forgivable?
If you remain in the property and do not rent, sell or convey ownership of the property during the lien period, the loan will be forgiven and a satisfaction of mortgage will be recorded once the lien period is completed and the homeowner has complied with all requirements.
Location:
Orlando Property must be in the city limits of Orlando, FL.
Income Limitations:
Yes, based on Compliance Income (including household income) Income limits from HUD 2023 140% AMI guidelines Income cannot exceed 140% AMI (moderate income)
Maximum Assistance
$40,000 Assistance Amount varies and is based on income level and the actual need of the applicant: Up to $45,000 for Very Low Income (50% AMI); Up to $35,000 for Low Income (80% AMI); Up to $20,000 for Moderate Income (140% AMI).
Education Requirements Info:
https://www.orlando.gov/Building-Development/Housing-and-Development-Grants-Incentives-and-Assistance/Housing-Assistance-Programs/Request-Down-Payment-Assistance/Housing-Counseling-Agencies
Eligible Property Types:
Single Family Detached Condo Townhome/PUD
Income By Household Size:
HH1HH2HH3HH4HH5HH6HH7HH8 $86,100$98,420$110,740$122,920$132,860$142,660$152,460$162,260 *Income limits as of 06/06/2023
Qualifying Ratios:
Housing Ratio: Up To 38% Total DTI: Up To 45%
