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Down Payment Assistance for First Time Homebuyers
First Mortgage products and Down Payment and closing cost assistance second mortgage programs for eligible First Time Homebuyers in Florida
- First Time Homebuyers: Must not have had an Ownership Interest in a principal residence at any time during the last three (3) years.
- Veterans Exception: Veterans need not be First Time Homebuyers.
- Federally Designated Targeted Area Exception: Borrower(s) purchasing in a Federally Designated Targeted Area are exempt from the First Time Homebuyer Requirement.
- Income Limits: Income limits apply as per program guidelines.
- Credit Score: Minimum FICO score of 640.
DG Pinnacle Bonds | First Mortgage Options
DG Pinnacle offers two first Mortgage Government Loan Programs and a Conventional Loan Program to eligible First Time Homebuyers.
The FL HFA Preferred
Conventional Option
- This first mortgage also offers reduced Mortgage Insurance (MI) premium for borrowers with income at or below 80% of AMI (Fannie Mae determines the AMI, not DG Pinnacle Home Loans).
The Florida First
Government Option
- Offers eligible borrowers a 30-year, fixed-rate mortgage for FHA and USDA-RD (RD).
- Rate is determined by DG Pinnacle Home Loans.
Bond Eligible Second Mortgage Options
DG Pinnacle offers a second mortgage program that provides eligible borrowers with funds that can be used for down payment, closing costs and prepaids, mortgage insurance premiums, or as a principal reduction to the first mortgage.
The FL Assist Second Mortgage
- $10,000 for Down Payment Assistance
- 0%, non-amortizing, deferred.
- Carries no monthly payment.
The FL Homeownership Loan Program Second Mortgage
- $10,000 for Down Payment Assistance
- 3%, fully-amortizing, second mortgage.
- 15-year term.
- Carries a monthly payment.
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