Realtors show they care with down-payment help

Experts say low interest rates and falling housing prices have opened the door to homeownership for many prospective first-time buyers, and one local group aims to help such buyers over the threshold - from securing a mortgage to coming up with the cash to make a down payment on the home of their dreams. The Realtors Care Foundation, a nonprofit arm of the Greater Tampa Association of Realtors, was established in 2007 to provide educational and housing programs and services to Hillsborough County residents. The group recently launched a down-payment assistance program to help prospective first-time buyers who meet income limits established by the Department of Housing and Urban Development. To qualify for the program, first-time homebuyers or those who have not owned a home in the past three years must purchase a single-family house, condominium or town house. Applicants also must agree to remain current on property taxes and homeowner association fees, and certify that they will remain owners for a minimum of five years.

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