Lee County launches new down payment assistance program
Fort Myers – A new Community Development Block Grant (CDBG) Homeownership Assistance Program is available to provide down payment assistance to those with qualifying income.
If you are purchasing an existing or new single-family home (or condominium /townhouse) in unincorporated Lee County, you may qualify for assistance.
The maximum price for the home being purchased is $380,000. The amount of assistance includes up to 50% of the lender-required minimum down payment. Additional mortgage subsidy may be provided to ensure the housing payment is affordable to the purchaser. Maximum assistance in any case will be $75,000.
Homebuyers must agree to occupy the property as their principal homesteaded residence and not own any other homes at the time of application. A second mortgage will be placed on the property for a term of five years and will reduce at a rate of 20% per year.
Funds are available on a first-come, first-ready basis. More information and program applications can be found at leegov.com.
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Source: Lee County Government