Affordable Housing Programs in Gadsden County:
The following programs are available for Gadsden County residents who wish to purchase a home. All programs require that participants attend the first time homebuyer education program and receive a Certificate of Completion. Contact The UF/IFAS Gadsden County Extension Service for class dates at 850-875-7255 or visit gadsden.ifas.ufl.edu
1. The Escambia County Housing Finance Authority (ECHFA)
This program is designed to make purchasing a home more affordable for low and moderate income homebuyers by providing homebuyers with affordable interest rate mortgage loans and down payment and closing costs assistance. Mortgage loans in this program are available on a first come first serve basis. The home buyer may choose between a VA-guaranteed, FHA-insured or USDA Rural Development 30 year fixed rate mortgage.
http://www.escambiahfa.com or call 850-432-7077 or 800-388-1970
2. Big Bend Habitat For Humanity
This program is based on 3 essential criteria : Demonstrate need for safe, decent and affordable housing. One must be able to get a zero interest mortgage and must be willing to partner through completion of volunteer sweat-equity hours, attending workshops and classes. With this program one doesn’t need to have “perfect” credit; however, one must display a willingness to improve any negative credit they may have.
http://www.habitally.org or call 850-574-2288
3. The Florida Housing Finance Corporation
This program offers down payment and closing costs assistance to eligible borrowers, which can greatly reduce the out-of-pocket expense for a first time homebuyers. Florida Housing also offers the first time home buyer program which makes purchasing a home more affordable for low-to-moderate income families and individuals by offering fixed low-interest rate mortgage loans.
http://apps.floridahousing.org or call 850-488-4197
Gadsden County SHIP program call 850-875-8659
4. USDA Single Family Housing Loans & Grants
The program provides homeownership opportunities to low and moderate income rural county residents.
– Rural Housing Guaranteed Loan:
Applicants for loans may have an income of up to 115% of the median income of the area. Families must be able to afford the mortgage payments including taxes and insurance. Applicants must have reasonable and credible credit histories.
-Rural Housing Direct Loan:
Section 502 loans are used to help low-income individuals or households purchase homes in rural areas. Funds can be used to acquire, build, repair, renovate or relocate a home.
http://www.rurdev.usda.gov/HSF_SFH.html or call
Marianna, FL 850-526-2610 ext 5
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