Real Estate News Page

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Find out the latest news about Real Estate happenings in Hernando County. Stay informed with Robert A. Buckner & Associates Real Estate News.

Click on one of the following to read detailed information:

SHIP Program - (State Housing Initiatives Partnership) Programs: Down Payment Assistance Program, Multi-Family Development Program, and Homeowner Rehabilitation Program.

Free Community Home Buyers and Credit Rebuilding Workshops- Sponsored by Hernando County. Workshops are presented free of charge.

Construction Funds - Hernando County Housing Authority Construction Funds to Upgrade Existing Homes being purchased by first time buyers.

FANNIE MAE: Mortgage programs. Construction to Permanent Loan Pilot Program, and Down Payment Assistance Program. Also available from Fannie Mae: a free consumer guide on predatory lending

Quicken Loans Inc. to offer FHA Loans.

SUNCOAST PARKWAY Progress on the road that will be impacting Hillsborough, Pasco, Hernando, and Citrus Counties.

Florida Enterprise Zone Program - designated by Stat of Florida - an area targeted for economic revitalization. Read about the potential Incentives provided by the State.

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The FHA has selected QuickenLoans Inc. to be the first mortgage lender to provide FHA loans over the Internet. Now anyone in the U.S.A. can apply for FHA loans directly from QuickenLoans Inc. They will also be able to track the progress of their loans and even close via Quicken Loan.

To do this go to Click here for their site .

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SHIP Program (State Housing Initiatives Partnership)

A program funded through the State of Florida designed to increase affordable housing construction and homeownership in Hernando County

Down Payment Assistance Program

The Down Payment Assistance Program is a loan that provides down payment assistant for families/individuals that meet the eligibility guidelines. The four main eligibility requirements are: 1) Applicants must meet gross adjusted income for family size without going over. 2) Ability to qualify with a financial institution. 3) Must participate in a First Time Buyer's Education Class; and 4) Must not have owned a home within three precious years.

The Down Payment Assistance Program assists qualified applicants with loans to assist in meeting their down payment and closing cost requirements. Eligible individuals and families can receive up 20% of the purchase price to put towards their down payment and closing costs for the purchase of an existing home, or the purchase of a new home.

The money will be loaned as a second mortgage on the purchased property, but you do not make payments on it. The loan is paid back to Hernando County when one of these situations occur: 1) the house is sold, 2) the home is no longer your primary residence 3) The first mortgage is paid in full or 4) If the buyer is deceased and wills the home to someone else. At that time, the loan must be paid back in one lump sum.

Eligibility is based upon household size and anticipated adjusted gross annual income for such size for any member of the household over 18 years of age that is working and/or any other member of the household receiving other forms of income such as Social Security benefits, pensions, retirement, etc.

The State does not allow any flexibility for these guidelines. Applicants cannot have received any previous loan through the County's Down Payment Assistance Program.

More information and applications are available from the Hernando County Housing Authority located at 2 North Broad Street, Brooksville, FL 34601. Contact SHIP Loan Processor at the Housing Authority's office 352-754-4160

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Home Owner Rehabilitation Program

The Home Owner Rehabilitation Program matches funds with the County's Community Development Block Grant (CDBG) program to provide assistance to qualified applicants to correct substandard housing conditions such as building code violations, energy conservation and correcting health and/or safety violations

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The Multi-Family Development Program

The Multi-Family Development Program provides loans to Developers that wish to build affordable multifamily housing communities in Hernando County.

For more information of the Multi-Family Development Program contact Don Singer at DonnieS@co.hernando.fl.us or call 352-754-4160. Loans for this program are made through Neighborhood Lending Partners, Inc. Contact Kevin Tatreau or Debra Reyes at 813-870-4525

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Hernando County Home Buyers and Credit Rebuilding Workshops - This workshop provides valuable information about credit rebuilding and Down Payment and Closing Cost Assistant Programs. Programs are sponsored by Hernando County and presented by Consumer Credit Counseling Service of the Florida Gulf Coast Inc. an accredited, non-profit, United Way affiliated community service agency whose mission is to provide individual financial counseling, housing counseling, and educational programs.

Learn about:

What price home you can afford.
Down payment and closing cost assistance.
Pre-qualifying vs. Pre-approval.
Shopping for interest rates
Closing on a home loan
Qualifying for a mortgage loan
Free Financial Counseling

The workshops are free and are presented at two locations:

                            VFW Post 10209                            Kennedy Park (Lorenzo Hamilton Community Center)
                            15166 Spring Hill Dr.                     895 Kennedy Blvd.
                            Spring Hill, FL, 34608                   Brooksville, FL, 34601

All classes require 7 hours of Attendance. All who attend will receive a Certificate of Achievement that is required by the Assistance Programs.   Note: child care is not provided.

Presented by Consumer Credit Counseling of the Florida Gulf Coast.  Schedule for second half of 2007 TBA For more information and/or reservations, call 1-800- 741-7040 and select "Option 4"

Spaces are limited, so those interested in attending must register early!

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QUALIFICATION REQUIREMENTS for Construction Funds to upgrade existing homes being purchased by first time home buyers -

Existing homes that could meet the requirements for construction funds as defined by Florida Statute 420.9075 are as follows:

You plan to increase the actual living space of the house (i.e. adding on a room or enclosing a garage)
You plan on doing a major upgrade to the home, such as putting on a new roof (if needed)
You plan to bring the entire house up to current building codes including electrical, plumbing, or any structural deficiencies.

Documents required: (defined by Florida Statute 420.9075)

Homes need to be inspected by a licensed state contractor to determine what specifically needs to be done for the home to qualify.
Copy of the contractor's professional license to work in Hernando County.
Copy of the building permit if one is required for the work being done.
Itemized work order specifically identifying the work needed and the cost for each element of the upgrade.
Signed agreement/contract from the contractor doing the work stating that the work will be completed within six months of the closing date.

Upon completion, a representative of the Hernando County Housing Authority will inspect the improvements to the home to verify that the qualification standards were met.

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Fannie Mae Mortgage Programs:

Down Payment Assistance Program - Made available through a partnership with the Florida Housing Finance Corp. Funds are available for more than 120 Florida families and can be applied toward a down payment, closing costs, appraisal fees, home inspection fees and legal fees related to the transaction. Monies are available on a first come, first served basis to qualified low and moderate income families.

For more information call Florida HFC 850-488-4197

Construction-To-Permanent Loan Pilot Program - Which enables custom home buyers to finance up to 90% of the value of the new home, including both the construction loan and the traditional mortgage term, under one 30-year mortgage. Only single-unit, site-built homes are eligible for the pilot program. After the home is built, the mortgage is converted into a permanent loan.

For more information: Click Here for the Fannie Mae website

Fannie Mae has a free consumer guide on predatory lending available. It is called "Borrowing Basics: What You Don't Know Can Hurt You". The booklet identifies the common characteristics of predatory lenders and the services they offer (i.e. adding on excessive fees, basing loans solely on a home's equity, setting high interest rates). It also contains information about ways to research loans.

To obtain a copy of the consume guide:

        Call 1-800-7FANNIE (1-800-732-6643)
        or Click Here for the Fannie Mae website

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SUNCOAST PARKWAY - Construction began on the Suncoast Parkway/Toll 589. Constructed in six sections, each with its own construction schedule and contractor, it is owned by the State of Florida and is part of the Florida's Turnpike System. Extending from the Veterans Expressway in Northern Hillsborough County to US 98 in northern Hernando County, a distance of approximately 42 miles, It impacts Hillsborough, Pasco, and Hernando Counties.

Click here for map of Suncoast Parkway .

For More Information about the Suncoast Parkway, or its progress in Citrus County, Click Here

Or contact the Florida Department of Transportation:

Joanne Hurley,
Public Information Officer, Turnpike District
Florida Department of Transportation
14416 S.R. 52
Hudson, FL 34669
727-856-4488

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Florida Enterprise Zone Program - designated by the State of Florida, is an area targeted for economic revitalization. Financial incentives are offered to businesses and property owners to encourage private investment and the creation of jobs for the residents of the zone. Click Here for a Map

Potential Incentives provided by the State:

Enterprise Zone Jobs Tax Credit against corporate income tax or sales and use tax
Enterprise Zone Property Tax Credit
Sales tax refund for building materials used in rehabilitation of real property
Sales tax refund for business equipment purchased for use in a zone
Sales tax exemption for electrical energy
Community Contribution Tax Credit

Additional tax credits may be available by the City of Brooksville.

For more information please contact:

Michael McHugh, Director
Office of Business Development for Hernando County
352-540-6400

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All data provided is believed to be accurate and reliable, but not guaranteed. Buyers are advised to confirm all data before making a purchase decision.

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Robert A. Buckner & Associates, Inc. is a professional real estate company dedicated to providing quality service. Locally and independently owned, our winning team keeps abreast of changing marketplace and growth in Hernando County. Our marketing plan and services are designed to respond to the needs of our dynamic area.