Fla. Announces $10M Housing Loan Program in Panhandle

Kennith Bogan

Gov. DeSantis traveled to Panama Town to announce a relaunch of the Hurricane Michael Restoration Financial loan Plan. Around 600 homebuyers will probably acquire aid.

TALLAHASSEE, Fla. (AP) – Gov. Ron DeSantis introduced a $10 million housing bank loan program that could advantage hundreds of residence buyers in the Florida Panhandle, which was devastated two yrs in the past by Hurricane Michael.

DeSantis traveled to Panama Town Monday to make the announcement.

The governor’s place of work named the new funding a relaunch of the Hurricane Michael Restoration Financial loan Plan, which last yr offered $five million in down payment assistance to 335 residence buyers across the most tricky-strike counties of the area.

A effective Classification five storm, Hurricane Michael ruined hundreds of houses when it plowed through Florida’s Gulf Coastline in the fall of 2018.

“These storms come and then they go,” the governor claimed, “but the hurt that they leave powering takes time to rebuild.”

The program will resume in Sept. one and will provide thirty-yr preset price mortgages to a lot more than 600 certified residence buyers. It will consist of $15,000 in down payment and closing expense assistance. The no-fascination down payment loans will be forgivable around five yrs.

The new allocation of funds was component of the point out finances the governor signed in June.

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