The State of Florida offers a robust list of DPA programs. Each programs has it unique guidelines and eligibility requirements. They are tailored for help secure a home with little out of pocket funds for Florida individuals and families.

Below outlines various down payment assistance (DPA) programs in Florida designed to reduce upfront costs for homebuyers, featuring options from the Florida Housing Finance Corporation and the Florida Hometown Heroes Program. Specific county initiatives, including Pinellas County DPA, Hillsborough County DPA, and the Orange County SHIP program, are also detailed to support low-to-moderate-income families with funds for down payment and closing costs. 

Down payment assistance can range for $10,000 to $80,000 depending on the City and County program being offered. Funds are limited, may run out and programs may have time limits or can be discontinued. Reach out to me, David Barrett with Barrett Financial Group to find the most recent active programs.  

Do I have to repay Florida down payment assistance? 

Program funds are provided in the form of a second mortgage. Many programs are non-amortizing, zero interest, (no monthly payment) loan forgivable after 5 or 10 years. Other programs are not forgivable and are repayable when the home is no longer the primary residence, sold or refinanced.

Some DPA programs require the lender make the application and others require the borrower to apply on their own.  Another program is One application for both the first and second mortgage DPa funds with the lender and we do it all for you.  For those programs that require a separate application, I guide my borrowers through the process to speed their acceptance of the DPA program. 

State Level Programs 

The FHFC provides down payment and closing cost assistance that must be paired directly with their primary first mortgage loans. 

Offers up to $10,000 on FHA, VA, USDA, and conventional loans. It is  a 0% interest, non-amortizing, no monthly payments second mortgage. The loan is not forgivable and must be repaid when you sell, refinance, or transfer the home. 

Requirements: You must be a first-time homebuyer, have a minimum 640 FICO credit score, complete an approved homebuyer education course, and stay below county income AMI limits. 

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