Welcome to the City of Hollywood Housing & Community Redevelopment

First Time Homebuyer

HOUSING PARTNERSHIP PROGRAM

En Espanol

The City of Hollywood's Housing Partnership Program is a partnership with several local lending institutions established for the specific purpose of providing special mortgage loans to home buyers.

The service is provided for existing and new construction homes located within Hollywood's city limits. Eligible properties include single-family homes, town homes, condominiums, or owned occupied duplexes permitting fee simple ownership. The purchase of multi-family properties with a maximum of four units is also permitted, provided that one of the units is owner-occupied.

The program has been designed to assist persons who have traditionally been unable to obtain private mortgage financing. Our goal is to increase home ownership opportunities and improve the existing housing conditions in Hollywood.

FIRST TIME HOME BUYER PROGRAM

The City of Hollywood will provide a no interest 2nd mortgage (based on income) to be used for down payment and/or closing cost assistance. No payments will be due on this loan as long as you are living in the house. This loan may become due upon refinancing.

The City works in partnership with local banks to finance loans up to 97% of the Purchase Price or appraised valued, whichever is less. Borrowers must contribute a minimum of 1% of the Purchase Price from their own savings and have an additional 2% in verifiable reserves.

The participating bank will provide special mortgage financing specifically designed for City of Hollywood first time buyers.

The maximum purchase price CANNOT exceed $362,790 for existing and new construction. The property must be located within the boundaries of the City of Hollywood. Applicants cannot have owned a home within the past 3 years. Applicants must meet Federal income guidelines established for Broward County. The total gross household income cannot exceed the following guidelines:

Family Size	Family Income
1	$64,320
2	$73,440
3	$82,680
4	$91,800
5	$99,120
6	$106,440
7	$113,880
8	$121,200

EXISTING HOMES

The Housing Partnership Program provides an opportunity for First Time Home Buyers to purchase an existing home. The City will contribute a no interest 2^nd mortgage of $70,000 (based on income) to be used for down payment or closing cost assistance.

The maximum purchase price cannot exceed $362,790, must be located within the City of Hollywood and must pass a full property inspection at the time of closing.

NEW CONSTRUCTION

The Housing Partnership Program provides an opportunity for first time buyers to build a new single family home.

The City will contribute a no interest 2nd mortgage of $70,000. These funds are used to assist with the cost of new construction (down payment, closing cost and the purchase of a lot).

The maximum sales price cannot exceed $362,790 and the site must be located within the boundaries of the City of Hollywood.

FIRST TIME HOME BUYER WORKSHOPS

If you are interested, complete the First Time Homebuyer application and provide a non- refundable application fee of $12.00 per borrower. Mail original application with money order, (no Cash or Personal Checks accepted) for appropriate fee to:

City of Hollywood Department of Housing and Community Redevelopment,
2500 Hollywood Blvd, Suite 314
Hollywood, FL 33020

Once we receive your application, you will be scheduled within 90 days to attend two (2) mandatory educational workshops.

You Will Learn:

Savings
Credit
Budgeting
Property Maintenance
Mortgage Documentation
Real Estate Contracts
Income Qualification
Fair Housing
Predatory Lending
Home Inspections

PROGRAM ADMINISTRATION

Should you have any further questions, call 954-921-3383.

First Time Home Buyer Application:

The First Time Home Buyer application is available for download. Please click on the "Download Document" link. This form is in Adobe Reader (PDF) format. If you do not have the free Adobe Reader, click here.

First Time Home Buyer Application

The Department of Housing and Community Redevelopment is currently funding applications for subsidy assistance, however, there is a waiting list. In order to place your name on the waiting list you will need to complete the enclosed application, send it in with your application fee and attend the mandatory workshops.

You will also be eligible to participate in the free services that the City of Hollywood provides such as; full credit review, repair recommendations, credit counseling, budget and pre-qualification analysis. This counseling will assist you in purchase readiness.

WARNING: The applicant certifies that he/she is familiar with the residency restrictions established through the adoption of Chapter 135 of the Code of Ordinances No. 0-2007-21 entitled "Sexual Offenders/Designated Predator Residence Restrictions", and may not be able to reside at the chosen location because it is within 1000ft of a restricted area.

Download Document

Mail Application to:
City of Hollywood Department of Housing and Community Redevelopment
2500 Hollywood Blvd, Suite 314
Hollywood, FL 33020