Fla. Announces $10M Housing Loan Program in Panhandle

Gov. DeSantis traveled to Panama City to announce a relaunch of the Hurricane Michael Restoration Financial loan Program. More than 600 homebuyers will probably obtain help.

TALLAHASSEE, Fla. (AP) – Gov. Ron DeSantis announced a $ten million housing personal loan method that could advantage hundreds of house potential buyers in the Florida Panhandle, which was devastated two several years ago by Hurricane Michael.

DeSantis traveled to Panama City Monday to make the announcement.

The governor’s business office referred to as the new funding a relaunch of the Hurricane Michael Restoration Financial loan Program, which very last 12 months supplied $5 million in down payment support to 335 house potential buyers throughout the most tough-hit counties of the region.

A impressive Class 5 storm, Hurricane Michael wrecked hundreds of homes when it plowed via Florida’s Gulf Coast in the fall of 2018.

“These storms arrive and then they go,” the governor explained, “but the destruction that they leave at the rear of normally takes time to rebuild.”

The method will resume in Sept. one and will provide 30-12 months fastened rate mortgages to much more than 600 qualified house potential buyers. It will include things like $fifteen,000 in down payment and closing cost support. The no-desire down payment financial loans will be forgivable about five several years.

The new allocation of cash was aspect of the condition funds the governor signed in June.

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