First-time homebuyers have another enticement to buy

The Associated Press

New home sales unexpectedly fell 7.6 percent last month, capping the industry's weakest year on record. Locally, officials are trying a new down payment assistance program that may entice more buyers.

By TBO.COM | Staff
Published: February 01, 2010

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TAMPA --

First-time homebuyers wanting to take advantage of federal tax credits now have an extra incentive: down payment assistance.

Buyers in unincorporated Hillsborough County could be eligible for a new program that provides money for down payments and closing costs.

The Hillsborough County Affordable Housing Department will release $1.18 million for those buying in the county, including unincorporated Temple Terrace and Plant City, according to a statement by the county.

The money will be available beginning Feb. 5. It will be distributed on a first-come, first-served basis, and the buyer's lender is solely responsible for submitting the applications.

Applications are available at the Affordable Housing Department office at 1208 Tech Blvd., Suite 300, in Tampa.

To be eligible to release the funds, lenders must attend a mandatory Certified Lender Partner Workshop on Thursday, Feb. 5. Only applications from lenders who participate in the training will be considered.

Reporter Shannon Behnken can be reached at (813) 259-7804.