Sapphire Down Payment Program

Sapphire FHA Down Payment Assistance

  • Provides up to 4.5% in down payment assistance in ALL Florida Counties for FHA Loans.
  • Down Payment Assistance is forgiven at the Closing table.
  • The buyer does not need to be a first-time Home Buyer.
  • Must be a primary residence, no Investors.
  • 30-year fixed term.
  • Competitive Mortgage Interest rates.
  • Can be used with VA Mortgages (4.5%), FHA Mortgages (4.5%) and USDA Mortgages (3%).
  • The borrower must have at least 1 active trade lines.
  • Supplemental Alternative credit allowed.
  • Maximum Income Limits set at 115% of Florida County where the house is located.
  • Maximum purchase price of FHA limits in the area purchased.
  • Generally, the lesser of $417,000 (not including MI) or maximum loan amounts permitted by HUD.
  • Lender credit not available.
  • Minimum middle FICO credit score is 620.
  • Maximum debt-to-income is 50%.
  • No Prepayment Penalty Fee if the loan is paid out early.
  • No cash back to Borrower/Buyer.
  • The seller can contribute up to 6% towards Buyers Closing Costs.
  • No 203k Renovation loans allowed.

If you are looking to buy or sell your home, contact us today. We save our clients money and sell our homes for top dollar.

Phone: (516) 909-9213 or at (813) 699-1800

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