Ron DeSantis was in Panama City Monday afternoon to announce a program that will provide $15,000 loans to help residents find housing after Hurricane Michael.
DeSantis said that come Sept. 1, the state will relaunch the Hurricane Michael loan recovery program to provide residents with $15,000 loans to assist with housing costs.
“Expected to launch September 1, the Hurricane Michael Recovery Loan Program will offer below market 30-year fixed rate first mortgages coupled with up to $15,000 in down payment (DPA) and closing cost assistance for qualified homebuyers.
DPA loans will be zero percent interest, non-amortizing and forgivable at 20 percent per year over five years.
The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home,” it read.