First TIme Homeowner Programs

[Adrianne Morris]

Hi Bigger Pockets Members,

I have been researching first time homebuyer programs and grants in Pensacola, FL that will provide closing costs and down payments. There are around three or four that I have found so far however the catch is that the money is given in the form of a forgivable loan which means if you decided to sell or rent the property the money would then become due either immediately or over the life of the loan. I plan to stay in this property for a little over a year and rent it out after. We are also considering an FHA loan. Are there any ideas that you guys have that would make the loans useful for investment purposes or any other loans or programs that are helpful. Thanks.

Adrianne Morris