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Choose an eligible home
Explore homes for sale in Florida rather than selecting from a small inventory of designated rental properties.
A new path to Florida homeownership
You pick the home.
Discover a path to owning it.
Not quite ready for a traditional mortgage? Explore DreamBuilder, a structured homeownership program with flexible qualifying options and a long-term path toward ownership.
✓ Florida-focused✓ Choose an eligible home✓ Clear program explanations
🏡 Picture the possibilities in Florida
A different approach
Homeownership doesn't always follow one path.
DreamBuilder is designed for prospective buyers who may not qualify for traditional FHA mortgage financing today, but want a structured route toward homeownership.
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Flexible ways to qualify
Program guidelines include alternative income documentation and potential credit exceptions, subject to review.
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Long-term ownership path
A structured agreement offers several potential ways to obtain ownership or exit the arrangement.
Imagine the possibilities
Make room for the life you want.
A place to make memories, welcome friends, and enjoy the Florida lifestyle. Your home search can start with the features that matter most to you.
Videos are lifestyle illustrations, not depictions of an approved DreamBuilder property or a promise of program eligibility.
How it works
Four steps toward your next home
Here's the simplified process. Your actual transaction includes underwriting, property review, closing disclosures, and a written Homeownership Agreement.
01
Talk with Dave
Review your goals, finances, credit history, and potential program eligibility.
02
Find your home
Choose a Florida property that meets the program's requirements.
03
Complete the process
Underwriting, appraisal, inspections, agreement review, and approved closing.
04
Move in and plan ahead
Make your scheduled payments and explore your contractual paths to ownership.
Important: An FHA-eligible government entity purchases the property. You sign a structured Homeownership Agreement and do not initially become the legal titleholder or borrower on the FHA mortgage.
Program highlights
More ways to be considered
These are selected DreamBuilder matrix guidelines, not promises of approval.
580General minimum credit score; below 580 or no score requires an approved exception
3.5%Potential minimum initial contribution, based on up to 96.5% LTV; other funds are required
60%Maximum total DTI in certain qualifying scenarios; lower limits may apply
3 monthsBank-statement income documentation available under specified qualifying methods
Qualification details matter. Credit history, housing payment history, payment shock, reserves, income, property condition, and other factors can change eligibility. Florida properties also require a four-point inspection and wind mitigation report; additional inspections may apply.
Your future options
What happens after you move in?
Unlike a short-term lease option, DreamBuilder offers a longer-term agreement with several possible paths, each subject to its own requirements.
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Assume the FHA mortgage
When eligible and approved, a buyer may assume the underlying FHA loan and receive title after satisfying applicable requirements.
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Sell the property
A sale may be coordinated with the agency when the account is in good standing and the option price is fully satisfied from sale proceeds. Other conditions may apply.
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Pay off over time or early
The agreement provides a long-term payment structure, with options to accelerate payoff or purchase using cash or other financing.
Understanding equity: Program materials state that appreciation from the closing date belongs to the homebuyer and the option purchase price decreases as payments are made. Actual sale proceeds depend on the required payoff, transaction expenses, account status, and the signed agreement. Leaving early may result in loss of funds or equity and other contractual consequences.
Know the full picture
Understand the costs before you commit.
We believe transparency matters. DreamBuilder has upfront and ongoing costs beyond the initial contribution.
Dave can help you request an individualized breakdown before deciding whether the program fits your goals.
Ask about your costsSelected program fees
Program underwriting fee$1,500
Agreement management fee0.50% of purchase price
Monthly maintenance / servicing fee0.50% of FHA loan amount ÷ 12
First contract paymentCollected at closing
Other closing costs, appraisal, reservesAs applicable
Illustrative fee categories from the DreamBuilder matrix; not a loan estimate or complete disclosure of all charges. Program terms may change.
Understanding the difference
DreamBuilder vs. a typical short-term lease option
| Feature | Typical two-year lease option | DreamBuilder |
|---|---|---|
| Time to exercise purchase | Often a fixed short deadline | Long-term structured agreement, subject to its terms |
| Property selection | Depends on seller or provider | Buyer selects an eligible property |
| Legal title at move-in | Typically not | No; government entity holds legal title initially |
| Equity and appreciation | Depends on contract | Program describes earned equity and buyer benefit from appreciation, subject to agreement and payoff |
| Exit paths | Typically exercise, renegotiate, or leave | Potential assumption, purchase, sale, payoff, or other agreement-defined exits |
Traditional lease-option terms vary considerably; comparison is illustrative, not a claim about all lease-option agreements.
Frequently asked questions
Clear answers. No pressure.
Is this a traditional mortgage in my name?
No. The FHA-eligible government entity purchases the property and holds the mortgage. You enter a structured Homeownership Agreement and do not initially appear on the mortgage note or deed.
Can I choose the house?
Yes, you may choose a property for sale that meets DreamBuilder's eligibility and appraisal requirements. The transaction must be approved.
Can I qualify with a credit score below 580?
Possibly, but it requires an approved exception and additional requirements may apply. Approval is not guaranteed.
Can I use bank statements instead of tax returns?
The program includes several alternative income documentation options, including specified three-month bank statement methods. Which method applies depends on your circumstances and underwriting review.
Can I sell before the agreement ends?
Potentially. The program FAQ says a sale may be coordinated with the agency when payments are current, the account is in good standing, and the underlying option price is fully satisfied from sale proceeds. Otherwise, the buyer may need to qualify for and complete an FHA assumption before selling.
Do I own the home immediately?
No. The government entity holds legal title initially. The agreement defines your rights and the conditions for later title transfer. Review it carefully with qualified professionals.
What happens if I need to move?
Possible exit options include selling, purchasing, assuming the mortgage if qualified, or ending the arrangement. Financial and contractual consequences vary; walking away can mean losing invested funds or earned equity.
Is this available throughout Florida?
The program includes Florida-specific requirements. Availability for a particular applicant and property must be confirmed through the lender and program team.
Let's talk about your goals
Your next home may be closer than you think.
Get answers from a Florida mortgage professional who also understands real estate and lease-option transactions.
Dave OverholserNEXA Lending
NMLS #2448082
NMLS #2448082
Let's explore your options
Call or email to discuss the program, or ask for a consultation.
727-999-9677[email protected]Have a question? Open the chat button to type a message or speak with Jessica.
Start a conversation
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