BRADENTON - The city of Bradenton expects to receive $71,998 funding to help first-time homebuyers.
The funding is part of the Florida Homebuyer Opportunity Program from the Florida Housing Finance Corp.and will be available for the 2009-10 fiscal year. The funds will be used to provide upfront loans to first-time homebuyers and will be based on the credit first-time homebuyers will receive on their federal income taxes.
This credit will equal 10 percent of the purchase price of the home, the amount not to exceed $8,000. In order to be eligible for the loans, applicants must have a gross annual income of $75,000 or less for single taxpayers and $150,000 or less for joint filers. In addition, the home must be closed on by Nov.30, 2009.
The city will be accepting applications for this program between Oct. 1- 15. Applications will be available at the following locations:
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Bradenton Housing and Community Development Division912 Seventh Ave. E.Hours: 7:30 a.m. - 5:30 p.m. Monday-Thursday
Bradenton City Hall101 Old Main St.Hours: 7:30 a.m. – 5:30 p.m. Monday-Thursday
Applications will also be available online at www.cityofbradenton.com.
Applicants need to complete a first-time homebuyer’s class and be approved for a mortgage prior to applying for the program. Loans will be awarded on a first-come, first-ready basis to persons purchasing homes within the Bradenton city limits. The program is subject to funds availability.
For moreinformation, call Lesa Ramos, manager of the Bradenton Housing and Community Development Division, at (941) 932-9600.