
Penney Farms, Florida Home Buyer Grant
Penney Farms 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.
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Penney Farms is a town in Clay County, Florida, United States. The population was 749 at the 2010 census.[5]
In 1926, department store pioneer J. C. Penney founded the community of Penney Farms. He planned to develop an experimental farming village. The state of Florida incorporated the town in 1927. The real estate decline and stock market crash, however, caused Penney to scale back his ambitions to a community for retired ministers in honor of his father. Today, the Penney Retirement Community is a 192-acre (0.78 km2) home to Christian laypeople as well as clergy and missionaries.