Afford a home faster with a zero-down mortgage in Florida. Our HomeZero Program eliminates the hurdle of a down payment, providing 100% financing and flexible terms that are ideal for first-time Florida homebuyers and those with lower FICO scores and giving you up to 1.5% of the purchase price for closing costs.
The HomeZero Program is a game-changer for buyers. It covers 100% of the cost of buying a home and paves the way for a more inclusive approach to residential real estate.
Our zero-down home loans in Florida are designed for qualifying first-time and repeat home buyers who want flexible lending without the steep cost of a down payment and high closing costs.. It also offers big benefits for those who have been sidelined in the traditional mortgage loan landscape, including high-income earners who may not qualify for other home-buying assistance programs.
At The Doce Mortgage Group, we are committed to making your homeownership dreams a reality. Take advantage of flexibly-structured zero-down mortgages via the HomeZero Program, and enjoy perks like low credit score requirements and interest rates on eligible Florida properties.
Down Payment Assistance: Get 100% financing and put no money down on your Florida home purchase. The HomeZero program provides you with a second loan to cover your down payment and most of your closing costs – either 3.5% or 5% of your total amount, depending on your needs and qualifications.
Borrower Requirements: There are no income restrictions to get a HomeZero loan, and you may qualify with a credit score as low as 580 and a DTI as high as 57%. Further, unlike many other assistance loans, there are no first-time homebuyer requirements; however the program can only be used to find a primary residence.
Flexible Terms: Lock in with a 30-year fixed rate on a no-money-down mortgage in Florida. HomeZero loans allow for seller contributions up to 6% as well as gift funds, and can be optimized in multiple ways to fit your needs, such as through a repayable or forgivable loan structure.
You can use the HomeZero program to purchase many types of primary residence properties, including single-family residences, PUDs, townhouses, condos, double-wide manufactured homes, and 1-4 unit properties (so long as one unit is owner-occupied).
Note that no-down-payment loans cannot be applied to secondary residences or investment properties. There are also several limitations around applying a HomeZero loan to a manufactured property – for example, deed restricted and co-op manufacturer homes are not eligible. Other ineligible property types include boarding houses, properties to be used for commercial use (hotels, motels, bed-and-breakfasts, etc.), and tourist houses.
Is your property eligible for a HomeZero loan? Contact Alex Doce today to find out.
In many cases, yes! Down payment assistance programs like HomeZero are open to a wide range of buyers, including those who do not qualify for other types of mortgage assistance. Work with a mortgage broker to create a custom solution that minimizes your upfront purchasing costs while ensuring you don’t end up with unmanageable monthly payments.
Yes, gift funds are permitted to cover associated costs. When using gift funds towards a mortgage, you will need to supply a designated letter from the gifter stating that the funds are a gift and do not need to be repaid. Your mortgage lender can help you with the process of obtaining a suitable gift letter.
The maximum amount you can borrow through the HomeZero program is based on what county you’re buying in, ranging from $524,225 in lower-cost counties to $967,150 in high-cost Monroe County. The minimum amount you can borrow through the HomeZero program is $30,000.
In many cases, homeowners can have their down payment loan forgiven under the HomeZero program after 5 years of primary residence by the borrower. Contact us to learn more about forgiveness on down payment assistance loans.
HomeZero is a loan program offering 96.5% financing for the first mortgage and up to 5% financing for down payment assistance in the form of a second mortgage.
Alex Doce NMLS 13817.
The Doce Group NMLS 2638131.
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Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and underwriting criteria.
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