Experts say low interest rates and falling housing prices have opened the door to homeownership for many prospective first-time buyers, and one local group aims to help such buyers over the threshold - from securing a mortgage to coming up with the cash to make a down payment on the home of their dreams.
The Realtors Care Foundation, a nonprofit arm of the Greater Tampa Association of Realtors, was established in 2007 to provide educational and housing programs and services to Hillsborough County residents.
The group recently launched a down-payment assistance program to help prospective first-time buyers who meet income limits established by the Department of Housing and Urban Development.
"People who want to purchase a home in Hillsborough County need to be aware that we are here to help," said Jim Selvey, foundation president.
To qualify for the program, first-time homebuyers or those who have not owned a home in the past three years must purchase a single-family house, condominium or town house. Applicants also must agree to remain current on property taxes and homeowner association fees, and certify that they will remain owners for a minimum of five years.
The group holds fundraisers and solicits private donations to fund the program. Grants are reviewed and awarded by committee.
"The goal is to help as many as we can," Selvey said.
For information, call (813) 879-7010 or go to www.realtorscareofgtar.org.
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