continued: Plantation Purchase Assistance
Program Benefits
- 1% down payment from buyer
- Below market interest rates
- Fixed rate term for 30 to 45 years
- Liberal qualifying ratios
Some Participating Lenders
- American Mortgage
- Bank Atlantic
- Bank of America
- Bank United
- Mercantile Bank
- Washington Mutual
- RAD Financial
Eligible Properties
- Single-Family Homes
- Townhomes
- Condominiums
- Villas
Documentation Needed to Meet Income Eligibility Requirements
- Property must be located within the City
- Limitations on maximum sales prices
- Income limitations apply
- Must be able to verify cash to close, income and assets
- Two years of continuous employment