The Real Deal Miami

State home loan program gets few takers

October 14, 2009 10:35AM

Although an $8,000 federal housing tax credit program will expire soon, Florida’s $30 million bridge loan program had few takers. Only 15 Palm Beach County buyers have taken advantage of the Florida Homebuyer Opportunity Program, designed to front down payment money against the tax credit. Palm Beach County was allocated about $1.06 million, enough for $132 million interest-free loans. Statewide, less than 3 percent of the available money has been used, according to the Florida Housing Finance Corporation. [Palm Beach Post]