As of August 2, 2017 – Here are lenders offering 3% down loan programs.

FHA loan programs offer 3.5% down payments.

*In order to qualify, homebuyers must meet specific income and asset criteria based on need and median income in their area.

As an Accredited Buyers Representative, Robert Iafrate can offer a lot of value that will save you time, money and alleviate any stress or complexities of the home buying experience.

Mortgage advice:

  • Develop a plan.  Start with the types of mortgages and the basics.  There are lots of great resources for this including Consumer Financial Protection Bureau or Quicken Loans, even Zillow has great resources.
  • Get at least a couple of quotes.  Hypothetically, let’s assume that you understand the basics between a conventional loan, an FHA loan or VA loan and you chose conventional loan.  Ask your loan officer for a pre-approval and then ask for a loan estimate.  The loan estimate will give you a breakdown of the estimated fees so that you can compare.  It’s important to work with your Realtor on this so that the lender has more accurate tax and insurance information.  Sometimes in our area, the city may be installing public water and sewer services, so you want to plan for these additional costs that are rolled into your taxes.
  • Choose a lender based on merits, not just price or affiliation.  It is extremely important to feel confident that your loan officer will answer all of your questions, choose one that takes the time to address all of your concerns.  Your Realtor can help you get answers to questions in a timely manner.


Buying a home can be very overwhelming.  Here are some great resources that can also help make the process easier.  If you have any questions, contact me.

Lee County Housing and Development Corporation offers Down Payment Assistance, Homeownership Training and Credit Counseling.  To find out more about programs and services that they offer, click here for contact info.

Cape Coral Housing and Development Corporation offers programs to assist income qualified families purchase a home.  Click here to be directed to Cape Coral HDC website, available in English and Spanish.

Florida Housing Finance Corporation offers a variety of programs to assist with down payments and closing costs including a 3% non-repayable grant.  Florida Housing’s First Time Homebuyer (FTHB) Program uses income and purchase price limits to determine eligibility. Additionally, a potential homebuyer must complete a 6-8 hour face to face homebuyer education class, be able to qualify for a first mortgage loan, and have a minimum 640 FICO score.  They do have a list of approved lenders on their website.  Click here.  If you have any questions, contact me.

9 Steps to Buy a Home

  1. Figure out how much you can afford
  2. Know your rights
  3. Shop for a loan
  4. Learn about homebuying programs
  5. Call Rob Iafrate to shop for a home
  6. Make an offer
  7. Get a home inspection
  8. Shop for homeowners insurance
  9. Sign papers

There are more or less steps depending on each situation. These steps are provided by

First-Time Homebuyer programs offer assistance with the down payment.

FirstTimeHomeBuyer flyer from

Completing a HUD approved course may required, Homebuyer Education and Counseling in Lee County: