Welcome to the City of Hollywood Community Development

First Time Homebuyer

Thank you for your interest in the City of Hollywood’s First Time Homebuyer program.

The Department of Community Development and Code Compliance has made several subsidy changes to the program. In addition, we are currently re-structuring the program so that the assistance provided to each home buyer is effective in the current market. Additional changes are due to the elimination of the State Housing Initiative Partnership Program (SHIP) from the State of Florida and the reduction of program income to the City.

In order to develop a program that can assist all those in need we are not accepting applications at this present time. This will allow those already participating in the program and on the waiting list to determine how the program changes affect their ability to purchase a home.

The maximum amount of the down payment loans will be 25% of the purchase price up to a maximum of $40,000 for low income households and 20% of the purchase price up to a maximum of $20,000 for moderate income households. All funds committed are subject to availability.

The City of Hollywood will also no longer provide a home buyer education workshop. Therefore, you will need to obtain a workshop certificate from a HUD Certified Housing Counseling Agency that provides that service. For information on how to obtain a HUD certified home buyer certificate, you can visit HUD’S website www.HUD.gov when you get to the home page of the HUD website you will need to click on the RESOURCES tab at the top, select the HUD Approved Housing Counseling Agencies from the drop down, click on the state of Florida, scroll down (alphabetical order by City) to the office nearest to you and contact the Counseling Office for further instruction or call the HUD office at 800-569-4287. Direct link is also provided below:

http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=FL

Please check the website periodically for updates to the program and to see when the application process resumes.

The Neighborhood stabilization program will also offer many homeownership opportunities beginning in early 2010. Should you have additional questions regarding this program and any other programs available, you may contact Jennie Dennett @ 954-921-3306 or Kristina Fausel @ 954-924-2922.

In addition to the program mentioned above the City of Hollywood currently has funds available for the Florida Homebuyer Opportunity Program (FHOP). This program, operated under SHIP, allows you to apply for up to $8,000.00 in purchase assistance to applicants that are eligible to receive the Federal First-Time Homebuyer Tax Credit. The FHOP program is only available for First Time Homebuyer participants that purchase and occupy a primary residence prior to April 30th 2010. This is a short term advance loan on the tax credit and will need to be paid back to the City within the earlier of 18 months or 10 days after the receipt of your tax return.

For more information on the IRS Tax Credit you may go to the Internal Revenue Service (IRS) website at www.irs.gov., contact Kristina Fausel at 954-924-2922 or e-mail at kfausel@hollywoodfl.org."