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Homebuyers in Broward County can now Receive up to $70,000 in Government Funding
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Added: 02/09/2007
Type: Summary
Viewed: 291 time(s)
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Homebuyers in Broward County can now Receive up to $70,000 in Government Funding
Club Caribe Condominiums in Coconut Creek and Bank Atlantic have partnered to help put an end to the affordable housing crisis in south Florida. Club Caribe Condominiums together with Bank Atlantic are assisting homebuyers earning between $30,000 and $72,000 qualify to receive up to $70,000 in government financing for the purchase of a new home. This partnership is a result of an initiative of Broward County that has allocated $3,000,000 in government money to assist the workforce sector of the community become homeowners.
In addition to assisting buyers qualify for the government subsidized grants, Club Caribe Condominiums has substantially reduced its prices to further facilitate homeownership. As a result of this public/private partnership, buyers now have the opportunity to own their home for as little as $159,900 for a 1/1 with 846 square feet, $179,900 for a 2/1 with 1,015 square feet, and $209,900 for a 2/2 with 1,130.
The developer of Club Caribe Condominiums has also reduced their down payment to $1,000 and will extend the contract period to assist buyers during the credit repair and qualification process for the government subsidized loans.
Club Caribe has also joined forces with the City of Coconut Creek to assist municipal employees to become homeowners within the city they work in. The developer of Club Caribe has further reduced its down payment to $500 for city employees as an incentive to get them on the road to homeownership. In a demonstration of genuine community interest and willingness to assist its client, Club Caribe will return the down payment money, in its entirety, if the client does not qualify to become to a home owner.
"For years, buyers were denied purchase opportunities due to poor credit, no money for down payments, or elevated purchase prices. Now these same buyers have an opportunity to qualify for up to $70,000 in government funding and purchase a home at very low prices, no matter what type of credit they posses, and for as little as $500 down," said Robert Wolfarth, developer of Club Caribe Condominiums.
In an effort to inform buyers on this great opportunity, Club Caribe has begun a "Homeownership Tours" by visiting several businesses, churches, and civic centers in the community to educate employees on the opportunity they have to become homeowners.
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