Residents looking to ascend the property ladder may find relief in their climb thanks to the local government's efforts. Starting October 7, Osceola County Housing & Community Services will open applications for Down Payment Assistance to help prospective homebuyers with their initial purchase costs, according to an announcement published by Osceola County.
The program is not without its stipulations: applicants must engage in a mandatory 8-hour Home Buyer Education Class, secure pre-approval from a participating lender, and have not owned or foreclosed on a home within the previous three years. There's also a personal investment hurdle: individuals must contribute at least $1,000 of their funds towards the purchase. Naturally, they must also adhere to all program guidelines.
For those scouting out potential nests, the program defines the nature of properties that qualify for assistance. Only single-family dwellings, townhomes, or condominiums with a purchase price capped at $360,000 will be approved if they're located within the jurisdiction of Osceola County.
Prospective applicants can find more information and take the first step toward homeownership by visiting the Purchase Assistance page when the application process kicks off in October.
