Monetary help helps qualifying Tampa patrons land their first residence

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Monetary help helps qualifying Tampa patrons land their first residence
Monetary help helps qualifying Tampa patrons land their first residence

Brianna Oliver is counting down the times of a step that can change her life.

“I’m about to close my first ever home, and I’m so excited,” Oliver mentioned.

Subsequent week, she and her 4 youngsters can have a home they name their residence, however her path to proudly owning a house has not been straightforward. As a paramedic and a single mom, saving for a down fee has change into inconceivable.

Including to the problem: a really aggressive market. In response to Redfin, the median residence value in Tampa has risen to $400,000, a 21 % improve from this time final yr and a $120,000 bounce from the median value in Could 2020.

When Oliver watched the costs rise, she sensed that residence possession could be out of attain.

“You’ll see a house and think, OK, I’m going to get this. No. It’s like you want it and then someone makes a higher bid than you,” Oliver remembers.

Fortuitously, she did not need to go alone. Oliver was in a position to reap the benefits of two Tampa applications that assist qualify first-time homebuyers like her by means of the method. After receiving her credit score, Oliver certified for town’s Dare to Personal the Dream program, which affords prepayment help to income-eligible patrons. By concentrating on her residence search in East Tampa, Oliver was in a position to safe a big quantity of monetary help to place her towards the acquisition of her first residence.

“Through Dare, we help fund a gap of up to $40,000 for first-time homebuyers,” defined Kaion Henderson, director of group growth for Tampa. “If you’re in a community redevelopment area in East Tampa, you can get gap financing of up to $90,000.”

With the time limit approaching, Oliver mentioned she feels extra optimistic about her household’s future. Her new residence will not be a lot larger than her present three-bedroom condominium, however she’s lastly on her technique to constructing one thing a lot larger for her household.

“I want a place where my kids feel it’s their home,” Oliver mentioned. “Later, they can sell that house, they can get money from it, and it’s just going to be their thing.” “I am excited to start building equity.”

The Metropolis of Tampa is holding a house possession occasion this Saturday the place potential owners can get recommendation from trade specialists, take a guided tour of inexpensive properties inside the metropolis, and be taught extra about monetary help applications.

The occasion is that this Saturday from 9 a.m. to three p.m. on the Tampa Conference Heart. For particulars, go to:

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