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

We are not accepting applications at this time. Please check this website periodically for updates as to when the application process will resume.

The First Time Homebuyer Program provides down payment and closing cost assistance to homebuyers who have NOT owned a property within the past three years. This loan is for eligible Low and Moderate Income Families. Please check below for the income restrictions for household size.

The City of Hollywood will provide a 0% interest deferred loan (second mortgage) that must be repaid when any of the following changes take place:

(1) The borrower sells, transfers, leases or disposes of the assisted unit (by sale, transfer, bankruptcy or foreclosure, etc.); (2) the borrower no longer occupies the unit as their principal residence; or (3) the borrower dies, or if a married couple, the survivor dies.

The maximum amount of the down payment loans are based on a calculation of need and will be up to 20% of the purchase price, maximum of $40,000 for low income households and up to 10% of the purchase price, maximum of $20,000 for moderate income households. All funds committed are subject to availability.

All applicants must qualify for a first mortgage loan (minimum $50,000 loan amount) from one of the City's participating lenders. To qualify, credit must be in good standing (mortgage capable); buyer must have 3% of the purchase price in savings and must be employed in the same line of work or for the same employer for the past two years.

Please check 2010/2011 Procedure Guidelines for further program guidelines and eligibility.

The Neighborhood Stabilization Program (NSP) offers many homeownership opportunities. NSP homes are foreclosed properties that have been purchased and fully rehabilitated for resale to eligible buyers.

The City of Hollywood no longer provides a home buyer education workshop. Applicants must obtain a workshop certificate from a HUD Certified Housing Counseling Agency that provides this 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 nearest City to you. Contact the Counseling Office for further instruction or call the HUD office at 800-569-4287. You can also access that site via this direct link.
 

Home buyer Counseling services are provided through "Neighborhood Housing Services of South Florida". For more information on how you may participate with the City of Hollywood or other home buyer programs, please contact 954-622-4182.

Additional Resources

Please contact the following agencies that provide Down Payment and Closing Cost Assistance.

Florida Housing Finance Corporation
Broward County
Fannie Mae