Our Goal
Realtors & First Time Home Buyers
I have been dreaming and working on this for some time now and am excited to be about 60-90 days out from launching an Affordable Housing service for residence in the heart of Jacksonville.
The goal is to help more people become responsible Homeowners! We will be renovating and selling homes to people that will be living in the home and not landlords.
Our first focus will be Active Duty and Retired Military followed by First Time Buyers.
Buyer will be required to complete an online personal finance and budgeting workshop that we will be offering as well as come up with their down payment (No Gift Funds Allowed). That is right, this is not a down payment assistance scam and NO down payment assistance programs will be offered or accepted.
The goal is to educate and place responsible people into homes of their own were they can enjoy the appreciation and equity that comes with home ownership while having an affordable monthly mortgage payment.
The homes will be in the Downtown and Northside area of Jacksonville Florida and will be fully renovated with 3 year home warranties.
In most cases homes should range in the $125,000 to $165,000 price range and the future homeowner will be able to semi customize the home with paint colors, cabinet colors and a few select flooring options.
All homes will have updated or recently updated:
Roofs
HVAC
Electric
Plumbing
Paint
Flooring
We will offer seller concessions to cover up to 3% in closing cost for the buyer. We will also be happy to pay a 3% Buyers Agent Commission.
We are little guys and just starting out this project but our goal is to make a positive difference in one person's or family’s life at a time.
Jeremy McDonald
Founder & Executive Director
Our Process
Pre-Screen
Financial Education & Budgeting
Financial Education & Budgeting
Step One is to speak with a Home Buyer Specialist who will gather the basic information to see if you might be eligible to purchase a home. .
Financial Education & Budgeting
Financial Education & Budgeting
Financial Education & Budgeting
Step two is to speak with our Prefered Mortgage Broker and get Pre-Qualified for a Mortgage. Then you will be able to begin the online Financial Education and Budgeting workshop.
Home Planning
Financial Education & Budgeting
Mortgage Process
Step 3 is to meet with a home design specialist to begin to select the limited customization home decor selections for your new home.
Mortgage Process
Renovation & Construction
Mortgage Process
Step 4 is to Complete the mortgage approval process with our Prefered Mortgage Broker.
Renovation & Construction
Renovation & Construction
Renovation & Construction
Step 5 is the completion of your renovated or new home. Then home inspection and appraisal will be completed prior to closing day.
Closing Day
Renovation & Construction
Renovation & Construction
Step 6 is to Close on your home and get your keys!
Home Buyer Qualifications
Must be your Primary Residence
Sorry, no Landlords and no 2nd Homes. We will aggressively pursue anyone who commits fraud stating that they will live in the home and instead rents it out or does not use it as their primary residence.
Retired or Active Duty Military
The First 5 Days we place homes on the Market for Sale, we will only accept contracts from Active Duty or Retired Military Personal. They fight for our freedom and there are too many Realtors who discriminate against them for using their well earned VA Mortgage Benifits, this is something we are making a stand on.
First Time Home Buyer
After the 5 Day initial period on the Market for Sale, we will then Open things up to First Time Buyers who have not been on title to any homes in the past 36 months.
Minimum 640 Middle Credit Score
This is not a bad credit path to dispute your bad credit away to become a homeowner. A 640 Middle Fico is required for all applicants for the home. We want to help responsible people that have put in the work to have decent credit, become homeowners. The Sub-Prime Mortgage Meltdown of 2008 was a clear warning on what happens when people who can not manage their credit, become homeowners.
Household Income No More than 80% of the Area Median Income
In Duval County we follow the HUD.gov 2022 Income Limits. The Median Family Income in Duval County is $86,500. 80% is as follows depending on the size of the household(Applicants plus claimed dependants) 1 Person $46,850 - 2 Person $53,550 - 3 Person $60,250 - 4 Person $66,900 - 5 Person $72,300.
Be able to Save for your Minimum Down Payment Requirement
Again this is NOT a downpayment assistance program. The goal is to create responsible homeowners who will be able to manage their finances and be part of the increased growth, revitalization and stability of the Downtown and North Jacksonville areas.
Veterans and Active Duty Service Members are required to save 1% of the sales price of the home as their Earnest Money Deposit. They will be able to use the full 100% financing offered with a VA Mortgage through the McDonald Mortgage Team.
Fannie Mae HomeReady buyers will be required to save 3% of the sales price as their Downpayment and place this as the Earnest Money Deposit.
FHA Buyers will be required to save 3.5% of the sales price as their Downpayment and place this as the Earnest Money Deposit.
No Gift Funds will be allowed to meet these minimum savings requirements.