Homebuyer Grants in Ocean Ridge Florida. Find a Mortgage Broker Now.

Ocean Ridge, Florida Home Buyer Grant

 

 

Do you meet the general criteria for a home loan in Ocean Ridge, FL but lack the down payment?
Because this happens far too often Smart Mortgage Centers has created forgivable grant programs in Ocean Ridge that provide down payment and closing cost assistance for borrowers who would otherwise qualify for a mortgage.
Smart Mortgage Centers offers Homebuyer Grants in Ocean Ridge. Grants for homebuyers in Ocean Ridge, FL are not limited to first time homebuyers.  In order to qualify for the Grant Program the 1st mortgage will be completed by Smart Mortgage Centers

Ocean Ridge Home Grant Qualifications

 

  • 580 Credit Score Required
  •  Grant is completely forgiven – no repayment required!
  •  Grant can be used for down payment and/or closing costs
  •  Seller Credit of 6% is allowed
  •  Gift funds are allowed!
  •  Borrower(s) not required to be First Time Homebuyers.
  •  Income limit is based on qualifying income used for transaction, not household income.

 

Ocean Ridge, Florida Mortgage Brokers are standing by to assist with mortgage questions and pre-approvals. Making the dreams of owning a Ocean Ridge, FL home a reality since 1997.

 

Call Now (888)429-6601 for a no obligation free quote.

     Find your GRANT now!

    MINIMUM LOAN AMOUNT $60,000

    A mid-ocean ridge (MOR) is an underwater mountain system formed by plate tectonics.[1] It consists of various mountains linked in chains, typically having a valley known as a rift running along its spine. This type of oceanic mountain ridge is characteristic of what is known as an ‘oceanic spreading center’, which is responsible for seafloor spreading.[2] The production of new seafloor results from mantle upwelling in response to plate spreading; this isentropic upwelling solid mantle material eventually exceeds the solidus and melts. The buoyant melt rises as magma at a linear weakness in the oceanic crust, and emerges as lava, creating new crust upon cooling. A mid-ocean ridge demarcates the boundary between two tectonic plates, and consequently is termed a divergent plate boundary.

    Mid-ocean ridges are geologically active, with continuing volcanism and seismicity. New magma steadily emerges onto the ocean floor and intrudes into the ocean crust at and near rifts along the ridge axes. The crystallized magma forms new crust of basalt (known as MORB for mid-ocean ridge basalt) and below it (in the lower oceanic crust), gabbro.[3] MORs are formed by two oceanic plates moving away from each other. Hydrothermal vents are a common feature at oceanic spreading centers.[4]