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Affordable Housing Programs & Financial Responsibility
Receive important updates on Bond, Affordable Housing, and Loan Programs that promote financial responsibility.
Latest Updates: August 9th, 2023
Affordability, Housing, Bond, and Grant Programs
Stay Informed with the latest changes that lower the cost of homeownership.
Rate Buy Down Assistance: Provides 1% Lower Rates
Rate Buy Down Assistance is a Florida program that provides homebuyers with a 1% lower interest rate without charging the homebuyer discount points.
Homebuyers receive a 1% lower interest rate compared to all other loan estimates. Standard income and credit qualifications apply. This program does not have any additional requirements.
Program Overview:
- Eligible States: Florida
- Eligible Transactions: Residential Purchase Transactions
- Participating Lenders: Several National Lenders
- Applicable Loan Programs: FHA, VA, USDA, Conventional and Jumbo
- Minimum Credit Score: 580
- Eligible Property Types: No limitations
SIMPLE ACCESS: Homebuyers can use automated mortgage lending platform to verify rates and closing costs in under 3 minutes. Visit www.equifundmortgage.com
Yes, Rate Buy Down Assistance is available for all income credit qualifying homebuyers in Florida.
Yes, Rate Buy Down Assistance can be used with other down payment assistance programs.
Yes, Rate Buy Down Assistance can be applied to any of the following loan programs: FHA, VA, USDA, Conventional, and most Jumbo programs.
The only requirement is the homebuyer must keep the mortgage for a minimum of 6 months.
Become an RBDA approved Real Estate Agent
To offer RBDA, Real Estate Agents and Home Builders must enroll with Community Housing Services.
Please complete the form to schedule an online meeting for onboarding.
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RBDA Homebuyers get a 1% Lower Interest Rate
RBDA gives homebuyers the ability to capture a 1% lower interest rate compared to most all other loan offers and programs.
The 1% lower interest rate is equal to 10% more purchasing power for free.
RBDA Participating Lenders & Availability
RBDA has several national participating mortgage lenders that provide all major loan programs.
Availability is currently limited to the State of Florida.
RSPDA is available until December 31, 2024
RBDA Enrollment Process
RBDA Enrollment is processed automatically through an automated online mortgage marketplace during initial loan pre-approval.
Applicants will be provided with RNDA pre-approved loan offers from National Lenders