The state of Florida is relaunching the Hurricane Michael Recovery Loan Program

The state of Florida is relaunching the Hurricane Michael Recovery Loan Program to assist people who were impacted by the Category 5 hurricane in 2018.

The homeownership program will provide $10 million in down payment assistance to Floridians in impacted counties including Franklin, Gulf, Liberty, and Wakulla Counties.

The program will help over 660 families purchase homes.

The Hurricane Michael Recovery Loan Program will offer below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment and closing cost assistance for qualified homebuyers.

The loans will be zero percent interest and forgivable at 20 percent per year over five years.

The program initially began in 2019 with $5 million dollars for down payment and helped more than 335 households.

The additional 10 million dollars was approved during this year's legislative session.

The program is expected to launch September 1^st.

Interested homebuyers should get more information on Florida Housing’s website at www.floridahousing.org.

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