Looking for new homeowners programs in Duval County? These resources may help

Duval County residents hunting for a first home can check out two newly-launched programs to find assistance and clear hurdles to ownership in this time of high housing costs.

A $2 million investment from the city and almost $8 million from Ameris Bank offer new options for homebuyers. For residents in Black and Hispanic communities, the programs could potentially be used together.

Mayor Donna Deegan, who won City Council support in December for the city’s program, said the pilot project will guide the city's response to the affordable housing crisis. If it shows good results, the city will expand it so more people can participate, Deegan said.

"Already we know it's a big need," she said. "Can it move the dial? I think the dial starts with one turn. You're not going to solve all the problems overnight."

Affordable housing: Struggling to find affordable housing in Northeast Florida? These resources may help

Here's how the programs work and what other programs are available to make home ownership attainable.

Who is eligible for the Jacksonville Down Payment Assistance Home Ownership Program?

The program is for Duval County residents who have not owned a home in at least three years and fall within certain income limits based on family size. The gross income cap is 120% of the Jacksonville area median income. That is a higher cap than the U.S. Department of Housing and Urban Development offers for its down-payment assistance program so the city's program will expand the number of residents who qualify for help.

"I think what they're going to find is they're going to get flooded with applications," said Adam Rigel, chief financial officer for JWB Real Estate Companies. "They're shooting to help 200 families. I think they will hit that very quickly."

What is the income limit for applicants?

The eligibility limit translates to as much as $74,400 in from income for a single person; $84,960 for a two-person family; $95,640 for a family of three; $106,200 for a family of four; $114,720 for a family of five; $123,240 for a family of six; $131,760 for a family of seven; and $140,208 for a family of eight.

What homes qualify for the program?

Applicants can use the down payment assistance to buy homes anywhere in Duval County, except for mobile homes or manufactured housing. The maximum purchase price of the home is $335,000. The program cannot be used for a buyer to purchase a house that currently has a tenant living in it unless that tenant is the one buying it .

How do people apply?

Homebuyers can apply through the following participating lenders: Alive Credit Union, Ameris Bank, DHI Mortgage Company, Guild Mortgage, Hancock Whitney Bank, Homeowner’s Financial Group, Regions, Summit Mortgage Corp., Synovus Mortgage Corp, and Supreme Lending.

What's the latest in the Ameris Bank redlining settlement?

Ameris settled a federal lawsuit in November, resulting in multi-million investments like Ameris Choice in the communities put at a disadvantage by the illegal housing practice.

Officials from the bank and City Council member Reggie Gaffney, Jr. held a question-answer session March 14 to answer questions on the program.

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The program offers residents in Jacksonville Black and Hispanic communities up to $20,000 in mortgage assistance. Homebuyers can use the funds toward a combination of down payment assistance, closing cost assistance or permanent rate buydown. Home owners can also apply to use funds to help refinance their homes.

Who is eligible for the ‘Ameris Choice’ program?

The program is open to residents purchasing or refinancing a primary residence in a majority Black and Hispanic neighborhood in Jacksonville.

Residents currently in a Black and Hispanic neighborhood are also eligible to purchase a primary residence in Baker, Clay, Duval, or St. Johns counties.

What is the income limit for applicants?

Clyde Anderson, senior vice president director of community lending for Ameris Bank, told attendees at the press conference that there was no income requirement for applicants.

“As long as you qualify for an FHA, conventional or VA loan, you could qualify for the funds as well,” Anderson said. “And you don’t have to make 80% of AMI or median area income, or 120%. You know, you can actually just qualify for the loan and the income is not a question.”

How do people apply?

The funding will help up to 375 buyers and owners who can determine location eligibility on the Ameris Choice landing page. Residents can apply by contacting one of the Ameris mortgage bankers online.

What other programs are available?

A list of state-funded programs can be found on the United States Department of Housing and Urban Development website.

The Florida Housing Finance Corporation also offers home-buyer assistance programs, as well as down payment assistance for residents with qualifying lenders.

This article originally appeared on Florida Times-Union: Resource guide to new homeowners programs in Jacksonville