City of Tampa Home Buyer Education and Down Payment Assistance

City of Tampa Home Buyer Education and Down Payment Assistance

 

The City of Tampa’s Housing and Community Development Division (HCD), through its Housing Counseling Agency partners, will be providing Home Buyer Education classes (English and Spanish), Home Buyer Counseling Services and Down Payment Assistance for qualified home buyers.  To participate, contact any of the following housing counseling agencies to begin the process:

 

Participating Housing Counseling Agencies

 

CDC of Tampa, Inc.

1907 E. Hillsborough Avenue

Tampa, Florida 33610

(813) 231-4362

 

Center for Affordable Homeownership

5301 W. Cypress St.

Tampa, FL.  33607

(813) 341-9101

 

Solita’s House

3101 E. 7^th Ave.

Tampa, FL.  33605

(813) 425-4847

 

 

 

Tampa Bay CDC

2139 NE Coachman Rd.

Clearwater, FL.  33765

(727) 446-6222

 

 

 

Ainsley Daux
Florida Realty
(813) 546-1954
Dover Florida Real Estate
Tampa Bay Real Estate
Tampa Bay Short Sale
Brandon, Florida Real Estate

Timeline to Reestablish your credit after a Foreclosure

                      Timeline to Reestablish your credit after a Foreclosure

Due to the economic and financial hardships that many people faced in 2009, they were forced to file bankruptcy, short sell their homes, and many just gave up and were foreclosed on.
 
Considering all of these situations, people were put in difficult positions when it came to their credit.  Their credit ratings took a negative turn that affected their future home buying possibilities or anything involving credit scoring.  The following information offers help for those who may have been in one of these situations:
 
Bankruptcy Chapter 7
The following loans can be obtained in certain amounts of time.
FHA Loan:  24 months
USDA Loan: 36 months
VA Loan: 24 months
Conventional Loan: 48 months
 
Bankruptcy Chapter 13
 
FHA Loan:  12 months has elapsed since BK.  On time payments made while in Chapter 13, and written permission from the court to enter into a new mortgage.
USDA Loan:  36 months from discharge or dismissal
VA Loan: 12 months has elapsed since the BK.  On time payments made while in Chapter 13, and written permission from the court to enter into a new mortgage.
Conventional Loan:  Extenuating circumstances 24 months from dismissal or discharge date.
 
 
 
Foreclosure
 
FHA Loan:  36 months
USDA Loan:  36 months
VA Loan:  2 years, while exceptions on extenuating circumstances-can be less
Conventional Loan:  7 years
 
Short Sale
 
FHA Loan:  36 months
USDA Loan:  36 months
VA Loan:  2 years, with exceptions on extenuating circumstances-can be less
Conventional Loan:  *2 years- 80% LTV, * 4 years- 90% LTV, *7 years-can follow standard guides
 
Re-Established Credit
 
FHA Loan:  3 trade lines open active for 24 months paid as agreed.  No derogatory accounts since the event.  12 month verified residential NO late payments.
USDA Loan:  3 trade lines open active for 24 months paid as agreed.  No derogatory accounts since the event.  Must have a 24 months verifiable residential history NO late payments.
VA Loan: 3 trade lines open active for 24 months paid as agreed.  No derogatory accounts since the event, 12 month verifiable residential NO late payments.
Conventional Loan: 3 trade lines open and active for 24 months paid as agreed.  No derogatory accounts since the event.  12 month verifiable residential history NO late payments.
 
 
 Ainsley Daux
Florida Realty
(813)546-1954
Serving the Tampa Bay Area
Dover Real Estate
Brandon Real Estate

NACA (Home Ownership Program)

NACA OVERVIEW
 
NACA is the Largest Non-Profit HUD Certified Home Ownership Organization in the Country Providing the Best Home Ownership Programs in America.
 
PURCHASE PROGRAM
 
NACA provides the best home purchase program in America with free personalized and comprehensive counseling focusing on the homebuyer’s credit and financial issues to determine an affordable mortgage payment that is not based upon credit scores.  The majority of NACA homebuyers are low to moderate income, many with neither perfect credit nor substantial savings.
The NACA mortgage is unique in that everyone receives the same incredible terms that make home ownership affordable without the need for perfect credit, large savings or high income with the following terms:

• No down payment

• No closing costs

• No fees

• Fixed 30 year below market rate at 4.0% (as of 1/24/2014)

• Buy-down: one percent of the mortgage permanently reduces the interest rate by 25%.  

• NACA has been and continues to be in the forefront in advocating against lenders, mortgage companies, government entities, and others to combat discriminatory and predatory lending practices.
• For information go to www.NACA.com

Ainsley Daux
Florida Realty
813-546-1954
Tampa Bay Real Estate