Mayor Deegan to make announcement on affordable housing funding following down payment program

JACKSONVILLE, Fla. — One of the biggest complaints among local families when it comes to quality of life in the River City is the cost of rent and attaining homeownership.

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But, Mayor Donna Deegan’s Office said she plans to make a major announcement Wednesday that could help.

Right now, the city already has a program in place that relieves pressure on renters. Just last month, Mayor Deegan announced the Down Payment Assistance Program.

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Deegan said the Down Payment Assistance Program is the second program to launch this year, and there are several programs to come in the months ahead.

Let’s break down what you need to know if you’re interested: The Down Payment Assistance Home Ownership Pilot Program will provide up to 75% of the total down payment. Eligible properties include any single-family housing unit newly built or existing, which includes patio homes, townhomes and condominiums.

Read: City of Jacksonville is offering homeownership down payment assistance. Here’s what you need to know

The maximum purchase price or value for a single-family unit is $355,000.

The applicant must cover a minimum down payment of $500, and the cost of a general home inspection.

Deegan has earmarked $2 million for this pilot program, so if you’re eligible, go ahead and apply HERE.

The city is set to make its announcement on affordable housing funding at 10 a.m.

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