Fla. Announces $10M Housing Loan Program in Panhandle

Gov. DeSantis traveled to Panama Town to announce a relaunch of the Hurricane Michael Restoration Personal loan System. Above 600 homebuyers will possible acquire assist.

TALLAHASSEE, Fla. (AP) – Gov. Ron DeSantis introduced a $10 million housing personal loan method that could gain hundreds of dwelling consumers in the Florida Panhandle, which was devastated two many years ago by Hurricane Michael.

DeSantis traveled to Panama Town Monday to make the announcement.

The governor’s office environment named the new funding a relaunch of the Hurricane Michael Restoration Personal loan System, which previous 12 months offered $five million in down payment support to 335 dwelling consumers across the most difficult-hit counties of the area.

A impressive Classification five storm, Hurricane Michael ruined hundreds of residences when it plowed as a result of Florida’s Gulf Coastline in the drop of 2018.

“These storms come and then they go,” the governor explained, “but the problems that they depart behind usually takes time to rebuild.”

The method will resume in Sept. one and will present 30-12 months set amount mortgages to far more than 600 skilled dwelling consumers. It will incorporate $fifteen,000 in down payment and closing value support. The no-desire down payment loans will be forgivable in excess of 5 many years.

The new allocation of dollars was component of the state spending plan the governor signed in June.

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