Down Payment Assistance in Tampa, Florida

Do you know you could be eligible for down payment assistance in Tampa, Florida?

Check the programs below. You could be eligible.

Then search your desired home on our website tampa4u.com,
click Request More Info or Schedule Showing,
write your contact info and if you want to know what down payment assistance programs are available for the home you want to buy.

CHECK these 5 Down Payment Assistance Programs:

REALTORS CARE FOUNDATION OF GTAR INC. (RCF)
 RCF is a non-profit organization in Tampa that serves residents of Hillsborough County.

Down Payment Assistance:

  • Grant of up to $5,000
  • You don’t need to repay the grant, as long as you remain in the home
  • You can use any lender
  • Down payment assistance will be paid to the title company

Eligibility:

  • You’re a first time homebuyer
     (If you have not owned a home within the last 3 years, you’re considered a first time homebuyer)
  • You reside in Hillsborough County
  • You will buy an owner-occupied single-family house, condo or townhouse in Hillsborough County
  • You meet the household annual income limits set for Hillsborough County:

        Number of Persons        Maximum Household        
          in Household                   Annual Income
               1                                 $32,150
               2                                 $36,750
               3                                 $41,350
               4                                 $45,900
               5                                 $49,600
               6                                 $53,250
               7                                 $56,950             
               8                                 $60,600

  • Recent tax return will be the basis of occupants

How to Apply:
1. Submit your application and documents to RCF.
2. If you’re qualified, you will be contacted for an interview.
3. If your application is approved, you will be notified.
4. Submit the final HUD document to RCF for review not later than 72 hours before closing.
5. An RFC representative must be present at closing.

Documents Required:
1. Proof of Income
2. Copy of Good Faith Statement
3. Copy of completed loan application
4. Copy of the pre-approved letter from lender
5. Final approval
7. Copy of the certificate of completion of a home buying course, presented for at least 8 hours, and approved by HUD and RCF.
   Here’s a list of approved providers of home buyer education and counseling.              
8. Letter to RCF explaining why you should be considered eligible for receiving down payment assistance.

See details, application forms and contact information here:
RCF of GTAR Down Payment Assistance Application

CITY OF TAMPA MORTGAGE ASSISTANCE PROGRAM (MODERATE INCOME)

Down Payment Assistance:

  • Deferred-Payment Second Mortgage Loan of up to $14,999
     ($10,000 maximum for down payment and $4,999 maximum for closing costs)
  • No interest
  • No monthly payment as long as the home remains your primary residence and you occupy the home
  • Loan is fully forgiven after 5 years of occupying the home as your primary residence

Eligibility:

  • Your minimum credit score is 600
  • Your debt ratio should be 31/45%, meaning your monthly home payment must not exceed 31% of your monthly income and your total debt including home payment must not exceed 45% of your monthly income.
  • Your household income is below 120% of area median income
     (Income of household is considered, not just your income)
  • Number of Persons            Maximum Household        
          in Household                   Annual Income
               1                                 $32,150
               2                                 $36,750
               3                                 $41,350
               4                                 $45,900
               5                                 $49,600
               6                                 $53,250
               7                                 $56,950             
               8                                 $60,600

  • You will buy a property within the city limits of Tampa
  • You invest $2,000, with a minimum of $1,000 from your own verifiable funds
  • You do home inspection before closing
  • You’re not allowed to use an ARM loan

How to Apply:
1. Register for homebuyer education. You must not be under contract for a home purchase prior to
registration.
   Here’s a list of approved providers of homebuyer education.
2. Sign your contract for a home purchase, dated after the Certificate of Completion
3. Get a lender commitment for your first mortgage
4. Call the Housing & Community Development Division to request an appointment.
5. Submit all required documents within 10 days from date of application

Documents Required:
1. Completed HCD Application for Housing Assistance form
2. Authorization form signed by all household members with income
3. Latest copy of federal income tax return
4. Last 2 pay stubs for all employed household members
5. Child support documentation
6. Recent SSI, Social Security, Disability, Pension documents
7. Copy of executed sales contract, with name of title company
8. Last 6 bank statements
9. Name, address and phone number of your lender
10. Appraisal from lender
11. Housing Quality Standards inspection report, if existing home
12. Lead Based Pain clearance, if home is built before 1978

See details here:
City of Tampa Down Payment Assistance Application

A Bolts-Blue View of Tampa from Amalie Arena

A Lightning-blue view of the city of Tampa from the Lightning’s home, Amalie Arena!

󾠔Happy birthday to you…󾠔

Posted by Amalie Arena on Wednesday, July 15, 2015

The AMALIE ARENA in TAMPA is among the Top 5 Venues in the world.

In April 2015, it was ranked 5th in the world by Venues Today magazine based on ticket sales for events, conerts and family shows in venues seating more than 15,000 people.

When it first opened on October 12, 1996, its name was ICE PALACE. It was renamed ST. PETE TIMES FORUM in 2002 when it partnered with the St. Petersburg Times newspaper, then renamed TAMPA BAY TIMES FORUM in 2011 when the paper changed its name to Tampa Bay Times.

In September 2014, the venue was renamed AMALIE ARENA when Tampa Bay Lightning owner Jeff Vinik partnered with family-owned Tampa-based Amalie Oil Co.

AMALIA ARENA will be celebrating its 20th anniversary in October 2016.

Tampa Bay is 13th Most Affordable Housing Market

Tampa-real-estate-affordable

The Tampa Bay metro area is the 13th most affordable residential real estate market in Florida, based on third-quarter 2014 data from the National Association of Home Builders (NAHB) and Wells Fargo. Tampa Bay is in the middle of the pack, about midpoint of the ranking of 22 metro areas in Florida. Each real estate market’s affordability is evaluated using the area’s median family income and median home prices.

The Tampa Bay metro area refers to the Tampa-St. Petersburg-Clearwater metro area and encompasses the cities of Tampa in Hillsborough County and St. Petersburg and Clearwater and Pinellas County and some parts of Pasco County.

The following ranking is based on HOI, which means Housing Opportunity Index, the index created by the NAHB and Wells Fargo the measure housing affordability. It measures the percentage of homes for sale in a certain area which is affordable to a median-income family in this certain area, using standard mortgage underwriting criteria.

The HOI uses median family income data published by the Department of Housing and Urban Development and applies the assumption that a family can afford to spend 28 percent of its gross income on home mortgage.

RANK METRO HOI MEDIAN FAMILY MEDIAN SALES
AREA 2014 INCOME PRICE
1 Lakeland-Winter Haven 84.2 50,400 118,000
2 Tallahassee 82.5 64,800 139,000
3 Ocala 81.9 45,700 93,000
4 Gainesville 81.0 65,400 141,000
5 Palm Bay-Melbourne
-Titusville 78.4 60,700 133,000
6 Pensacola-Ferry Pass
-Brent 78.1 58,400 139,000
7 Deltona-Daytona Beach
-Ormond Beach 76.8 51,500 120,000
8 Palm Coast 75.9 56,300 147,000
9 Port St. Lucie 75.4 56,900 136,000
10 Jacksonville 74.3 63,200 156,000
11 Panama City-Lynn Haven
-Panama City Beach 74.1 59,500 155,000
12 Punta Gorda 74.0 55,700 132,000
13 Tampa-St. Petersburg
-Clearwater 72.8 57,400 138,000
14 Sebastian-Vero Beach 71.1 54,700 140,000
15 Crestview-Fort Walton
Beach-Destin 70.6 62,800 180,000
16 Cape Coral-Fort Myers 68.3 58,000 157,000
17 Orlando-Kissimmee
-Sanford 66.2 54,800 165,000
18 Fort Lauderdale-Pompano
Beach-Deerfield Beach 64.5 61,200 163,000
19 West Palm Beach
-Boca Raton-Boynton Beach 63.8 64,100 185,000
20 North Port-Bradenton
-Sarasota 61.8 57,300 183,000
21 Naples-Marco Island 51.9 62,900 260,000
22 Miami-Miami Beach
-Kendall 47.7 48,600 200,000

In the third quarter of 2014, the median price of homes in the Tampa Bay area was $138,000 and the median family income was $57,400, based on NAHB and Wells Fargo data. Nearly 73% of all homes for sale in the Tampa Bay metro area were affordable to families earning the median income.

5 Companies Create More Tampa Jobs in January 2015

port-of-tampa

Lots of restaurants, retail stores and businesses have been opening and expanding in the Tampa Bay area.  The year 2014 was a banner year. It was capped off by the well-covered launching of Jeff Vinik’s vision for the properties and vacant lands that he has acquired near the Amalie Arena.

Here are 5 companies that made their move to expand in Tampa in the first month of the year 2015:

1.   Central Florida Development will develop a 28-acre commercial and industrial center called County Line Commerce Center.

This project includes a speculative building which is set to open in June for office, warehousing and manufacturing use. It will be located near Interstate 4 on County Line Road. The estimated total capital investment is $20 million. It’s expected that the project will jump-start the opening of restaurants, retail and industrial businesses along Country Line Road.

2.   Tampa Tank Inc. and Florida Structural Steel (TTI/FSS) will build a facility and retrofit an existing building at Port Redwing, a property of Port Tampa Bay in the Gibsonton area, to fabricate steel and iron structures for export.

Tampa Tank builds steel petroleum tanks and pipelines and exports them worldwide. It has offices in Guatemala, Panama, Colombia and the Bahamas. It started operating in 1953 and acquired Florida Steel in 1984.

It will create 84 jobs at Port Redwing and will add 24 jobs at its headquarters in Ybor City. The project is also expected to revitalize Port Redwing and inspire other companies to expand in the area. Total capital investment is $18.25 million. This project is a victory for Tampa and Hillsborough County, as it was learned that Tampa Tank was considering to expand in the Bahamas.

3.   Cody Talbert Distribution, a wholesale supplier of parts and accessories for recreational vehicle dealers, service centers and campgrounds, will move its headquarters from Orlando area’s Kissimmee to Plant City. It will invest $200,000 and will employ around 30 people for technology development, distribution and technical support.

Cody Talbert plans to expand across the country and manage facilities from the
new Plant City headquarters.

4.   German company SLV Lighting, a manufacturer of residential and commercial lighting products, will expand its North American headquarters and distribution center, which is located near the Tampa International Airport. It has been operating in Tampa since 2009.

It will build a new facility along nearby Johns Road, where around 22 new employees will be hired for engineering, accounting, purchasing and project management activities.

5.   Big Brothers Big Sisters of America will move its national headquarters to
Tampa.

The 110-year-old organization, which has 331 affiliates nationwide, will help boost the city’s national profile with its network of donors, directors and affiliates. Big Brothers Big Sisters is that country’s biggest mentoring organization supported by volunteers and donors. It helps kids facing adversity or children of low-income or single-parent households by pairing them with screened volunteer mentors who can help them achieve greater confidence, educational success, better relationships and avoid risky behaviors.

It was former Tampa Mayor Pam Iorio, hired in 2014 as CEO and president of the organization, who spearheaded the move from Dallas, Texas to Tampa, her hometown.
She has committed to head the organization until 2019.  With help from the Tampa Hillsborough Economic Development Corp., which she helped found in 2009, she was connected to Parkway Properties which offered office spaces at West Shore’s Corporate Center One rent-free for five years. ROF Furniture donated office furnishings and Beck Group donated design-and-build services.

In 2014, the nine companies listed below created hundreds of Tampa jobs and are expected to continue creating jobs in the years to come:

BluePearl Veterinary Partners
Cognizant
Laser Spine Institute
LabTech Software
White & Case LLP
Quest Diagnostics
Acoustiblok, Inc.
Tampa Bay Brewing Company (TBBC) of Ybor City
ConnectWise

Tampa Bay Real Estate Market Is 4th Most Affordable in Florida

tampa-bay-real-estate-affordable

Based on the median sales prices of existing single-family homes in the third quarter of 2014, the Tampa Bay real estate market is the fourth most affordable housing market among metropolitan statistical areas in Florida.
 

Metro Area Median Sales Price
Ocala $ 108,000
Lakeland-Winter Haven $ 140,200
Punta Gorda $ 142,000
Tampa-St. Petersburg-Clearwater $ 145,000
Palm Bay-Melbourne-Titusville $ 145,000
Deltona-Daytona Beach-Ormond Beach $ 152,000
Pensacola-Ferry Pass-Brent $ 155,000
Palm Coast $ 157,500
Port St. Lucie $ 160,000
Sebastian-Vero Beach $ 165,000
Tallahassee $ 175,000
Panama City-Lynn Haven-Panama City Beach $ 178,500
Cape Coral-Fort Myers $ 180,000
Orlando $ 180,000
Gainesville $ 181,000
Jacksonville $ 186,500
Crestview-Fort Walton Beach-Destin $ 192,500
Sarasota-Bradenton-Venice $ 222,000
Miami-Fort Lauderdale-Miami Beach $ 270,000
Naples-Marco Island $ 342,500
Region Median Sales Price
Midwest $ 172,700
South $ 189,400
U.S. $ 217,300
Northeast $ 261,700
West $ 302,300

 
Source of Data: National Association of Realtors (NAR