NEW PROGRAM OFFERS CLOSING COST
ASSISTANCE TO FLORIDA HOMEBUYERS
A typical FHA buyer will need $28,500.00 to purchase a $300,000.00 home. With the Closing
Cost Assistance Program (CCAP) the same scenario requires only $12,300.00, saving the
borrower $16,200.00 out of their pocket!

For a $200,000.00 home a typical buyer will need $19,000.00. Borrowers applying for
a mortgage loan and securing financing through Bluecastle Lending, the exclusive
provider of CCAP, will only need as little as $8,200.00

For VA borrowers the numbers are astonishing. Even though VA loans require no down
payment, United States veterans still need to come up with the funds for the closing costs.

Usually these closing costs are 6% of the purchase price – veterans normally need
$18,000.00 for a $300,000.00 home however, for qualified borrowers using the
Closing Cost Assistance Program it could be as little as $1,174.00; that is almost
$17,000.00 saved.

The program accepts credit scores as low as 580 and it is for 30 year fixed government

sponsored loans. There is no income ceiling, ownership restrictions, selling restrictions,
mandatory seminars, waiting periods and the assistance does not have to be paid back –
it is not a loan. Although this program was designed to help first time home buyers, being a first time home
buyer is not a requirement. CCAP applies to primary residences, loan amounts over $150,000.00, single family
homes and borrowers that will qualify for VA or FHA.


Below find the chart that lets you know how much money your clients need TOTAL to purchase real estate
based on their credit score, loan type and purchase price using our Closing Cost Assistance Program. This is
the total cash they will need, and it includes insurance, escrows, pre-paids, title fees, mortgage fees, etc. For
example, a $150K buyer will need approximately $8,962.50 if the credit score is 580, or $6,369.00 if the credit
is 720. A $300K FHA buyer will need $13,038.00 with a 680 score.

The interest rate is usually around the rate published by Wells Fargo for a 30 year fixed FHA loan. Just Google
"Wells Fargo mortgage rates".
The interest rate for the program is the same regardless if you have a 580 credit
score or 850




Equal Opportunity Lender
Florida Closing Cost Assistance - CCAP
FHA LOANS

Purchase Price   580 Score       600 Score        620 Score          640 Score        660 Score         680 Score          700 Score        720 Score
                                                           
$150,000.00         $8,962.50        $8,962.50          $8,056.50          $7,119.00          $6,931.50          $6,744.00          $6,744.00           $6,369.00
                                                     
$200,000.00         $11,692.00      $11,692.00        $10,442.00        $9,192.00          $8,942.00          $8,692.00          $8,692.00           $8,192.00
                                                    
$250,000.00        $14,615.00      $14,615.00        $13,052.50        $11,490.00        $11,177.50        $10,865.00        $10,865.00         $10,240.00
                                                    
$300,000.00        $17,538.00      $17,538.00        $15,663.00        $13,788.00        $13,413.00        $13,038.00        $13,038.00         $12,288.00
                                                    
$350,000.00         $20,286.00      $20,286.00        $18,098.50        $15,911.00        $15,473.50        $15,036.00        $15,036.00         $14,161.00

VA Purchase - Regular Army - 1st Use



Purchase Price   580 Score      600 Score        620 Score          640 Score         660 Score         680 Score          700 Score        720 Score
                                          
$150,000.00         $5,098.00       $5,098.00          $3,786.00           $2,661.00          $2,473.00          $2,286.00          $2,2864.00         $1,911.00
                                    
$200,000.00         $5430.00        $5,430.00          $3,680.00           $2,180.00          $2,000.00          $2,000.00          $2,000.00           $2,000.00
                                   
$250,000.00         $6,702.00       $6,702.00          $4,514.50           $2,639.00          $2,500.00          $2,500.00          $2,500.00           $2,500.00
                                   
$300,000.00         $7,549.00        $7,549.00          $4,924.09          $3,000.00          $3,000.00          $3,000.00          $3,000.00           $3,000.00
                                   
$350,000.00         $8,282.00        $8,282.000        $5,219.00          $3,500.00          $3,500.00           $3,500.00         $3,500.00          $3,500.00

$400,000.00          $8,995.00       $8,995.00          $5,495.00          $4,000.00          $4,000.00           $4,000.00          $4,000.00          $4,000.00


For information on this program contact Bluecastle Lending at 954-866-0000, email alex@BluecastleLending.com . Bluecastle Lending is an Equal
Opportunity Lender