HOME Homebuyer Program Available in CRAs

Escambia County and the city of Pensacola announce the availability of down payment and closing cost assistance of up to $12,500 for homebuyers purchasing new homes in county or city Community Redevelopment Areas through the HOME Program. Buyers must make the property their principal residence. Assistance is provided in the form of a five-year loan, forgivable at the end of the loan term provided that the buyer does not sell, rent or transfer the property within that time frame. Funding is available on a first qualified, first served basis.

Buyer qualifications for HOME Homebuyer Program:

• Have a total gross family income that does not exceed 80 percent of area median income for Escambia County adjusted for family size.
• Have sufficient income and credit worthiness to qualify for primary financing from a participating lender.
• Must attend a free eight-hour HUD certified homebuyer class offered by Community Enterprise Investments Inc., (850) 595-6234, or Consumer Credit Counseling Services, (850) 434-0268, prior to closing.

For a map of Escambia County CRAs, click here.

For a map of city of Pensacola CRAs, click here.

For more information, contact Tracy Pickens at (850) 858-0350, option 8.