October 21, 2020

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Fla. Announces $10M Housing Loan Program in Panhandle

Gov. DeSantis traveled to Panama City to announce a relaunch of the Hurricane Michael Recovery...

Gov. DeSantis traveled to Panama City to announce a relaunch of the Hurricane Michael Recovery Personal loan Software. More than 600 homebuyers will most likely acquire help.

TALLAHASSEE, Fla. (AP) – Gov. Ron DeSantis introduced a $10 million housing personal loan software that could benefit hundreds of dwelling purchasers in the Florida Panhandle, which was devastated two a long time back by Hurricane Michael.

DeSantis traveled to Panama City Monday to make the announcement.

The governor’s workplace identified as the new funding a relaunch of the Hurricane Michael Recovery Personal loan Software, which previous calendar year presented $5 million in down payment help to 335 dwelling purchasers across the most hard-hit counties of the location.

A powerful Class 5 storm, Hurricane Michael ruined hundreds of households when it plowed by means of Florida’s Gulf Coastline in the tumble of 2018.

“These storms come and then they go,” the governor claimed, “but the damage that they depart at the rear of requires time to rebuild.”

The software will resume in Sept. 1 and will give 30-calendar year fixed amount mortgages to more than 600 experienced dwelling purchasers. It will contain $fifteen,000 in down payment and closing price help. The no-desire down payment loans will be forgivable in excess of 5 a long time.

The new allocation of money was component of the state price range the governor signed in June.

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