Notes from Charlotte County, Florida

Charlotte County Housing Corporation’s

Down Payment Assistance

Shelley Faria, mortgage loan officer with Bank of America, participates in the Charlotte County Down Payment Assistance program.

The Charlotte County Housing Corporation’s Cornerstone Program provides funds to assist potential homebuyers in acquiring a portion of the necessary funds needed to make a down payment on the purchase or construction of a home.

The minimum borrower’s contribution should be a minimum of $500 and the maximum grant amount for the down payment can be up to $30,000.

To qualify for assistance the annual gross household income cannot exceed the program’s maximum income limit which is based on family size.

The down payment assistance comes in the form of a loan:

• A 30 year loan with 0% interest
• No payments are required during the 30 years
• The property must be located within Charlotte County
• The maximum value of the property cannot exceed $204,432
• The home must be owner occupied
• The loan is payable in full at the end of the 30 years

Applicants must complete a homebuyer’s education program. Bank of America will pay for the homebuyer’s education class and pull your credit free of charge before hand.

The housing corporation offers free credit counseling if needed. For more information contact;

Shelley Faria, Mortgage Loan Officer

Bank of America

126 E Olympia Ave

Punta Gorda, FL 33950

941-575-0333