Hollywood to sell renovated home, offering to cover up to 50% of purchase price

The City of Hollywood is offering a once-in-a-lifetime opportunity for potential homebuyers with its Home Buyer Purchase Assistance Program. A recently renovated, remodeled home on Cleveland Street near Downtown Hollywood is up for grabs at the price of $350,000. But here’s the catch – the city is willing to contribute up to $170,000 towards the purchase for qualified buyers.

This 922 square foot two-bedroom, one-bath house boasts modern features such as exterior impact doors and windows, central A/C and heat, updated kitchen cabinets with stainless steel appliances, a renovated bathroom, and a tankless water heater. The city’s website outlines the details of the purchase assistance, which includes a conditional grant and a second mortgage loan with zero percent interest.

To be eligible for this incredible deal, potential buyers must meet certain criteria, including pre-approval for a residential mortgage, income limits based on household size, and not having owned a residential property in the last three years. Priority will be given to Hollywood residents and households at or below 80% of the area median income.

The deadline for submitting a Letter of Intent to purchase is May 1st, with notification of qualified buyers to follow. This is the last home available in the program, but the city is already looking into new ways to provide affordable housing options for its residents. Previous beneficiaries of the program, like Amy Ruiz, have expressed their gratitude for the opportunity to own a home in Hollywood. With dreams of homeownership becoming a reality for many, this program is truly changing lives in the community.