Hey there! If you're thinking of buying a home for the first time, and haven't saved up for a down payment, you still might be able to get it done.

Before I jump into the programs, let me briefly explain how down payment assistance works.

How it works

Down payment assistance comes in two forms: a grant, or a loan

A grant doesn't require repayment.

A loan does require repayment, but there are 3 different ways:

Monthly repayment. This is where they charge you interest and a monthly payment until the loan is paid off

Silent second. This is where they don't charge you interest, they don't charge you monthly payments, they just require that you pay it back when you sell the home.

Forgivable. This is where they forgive the loan as long as you meet certain criteria. A common requirement is that you live in the home as your primary residence for a set number of years. Once you've completed the timeframe, they forgive your loan and you don't need to pay it.

Approved lenders only

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Now that we have that out of the way, let's jump in! Below are the local programs available to help make homeownership more accessible.

Florida

Florida Housing Finance Corporation (FHFC) First Time Homebuyer Program

  • What It Offers: Provides up to $10,000 in down payment assistance in the form of a second mortgage.

  • Who Qualifies: First-time homebuyers with a minimum credit score of 640.

  • Income Limits: Varies by county.

  • Repayment: The second mortgage is deferred until the home is sold, refinanced, or paid off.

Orange County

  • Down Payment Assistance Program
    • Assistance: Provides up to $70,000 for eligible very low-income buyers, $40,000 for low-income buyers, and $10,000 for moderate-income buyers to assist with down payment and closing costs.

    • Eligibility: Applicants must be first-time homebuyers, meet income requirements, complete a pre-purchase homebuyer education program, and secure a first mortgage.

Pasco County

  • Down Payment Assistance Program (DPA)
    • Assistance: Offers assistance to low- to very low-income households for down payment and closing costs.

    • Eligibility: Applicants must meet income requirements and other criteria.

Alachua County

  • Down Payment Assistance Program
    • Assistance: Provides funding to eligible first-time homebuyers for down payment, closing costs, and necessary home repairs.

    • Eligibility: Applicants must meet income requirements and other criteria.

Osceola County

  • Purchase Assistance/Down Payment Assistance
    • Assistance: Offers down payment and closing cost assistance to eligible low-to-moderate-income individuals or households purchasing a home in Osceola County.

    • Eligibility: Applicants must meet income requirements and other criteria.

Broward County

  • Homebuyer Purchase Assistance Program
    • Assistance: Offers deferred payment loans to assist with down payment and closing costs for eligible first-time homebuyers.

    • Eligibility: Applicants must meet income requirements, complete a homebuyer education course, and contribute a minimum amount toward the purchase.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.

Miami-Dade County

  • Homebuyer Loan Program
    • Assistance: Provides down payment and closing cost assistance to low- and moderate-income first-time homebuyers.

    • Eligibility: Applicants must meet income requirements, complete a homebuyer education course, and secure a first mortgage.

Hillsborough County

  • Down Payment Assistance Program
    • Assistance: Offers up to $20,000 to eligible first-time homebuyers for down payment and closing costs.

    • Eligibility: Applicants must meet income requirements, complete a homebuyer education course, and secure a first mortgage.

Palm Beach County

  • Down Payment Assistance Program
    • Assistance: Provides up to $45,000 to eligible first-time homebuyers for down payment and closing costs.

    • Eligibility: Applicants must meet income requirements, complete a homebuyer education course, and secure a first mortgage.

City of Tampa

Dare to Own the Dream Homeownership Program

  • Assistance: Provides up to $40,000 in down payment and closing cost assistance.

  • Eligibility: Applicants must be first-time homebuyers, meet income limits, complete a homebuyer education course, and contribute a personal financial investment toward the purchase.

  • Repayment: The assistance is provided as a deferred-payment loan, forgiven after 10 years of ownership and occupancy.

City of Orlando

Down Payment Assistance Program

  • Assistance: Offers up to $35,000 for eligible buyers to assist with down payment and closing costs.

  • Eligibility: Applicants must be first-time homebuyers, meet income requirements, complete a homebuyer education course, and purchase a home within Orlando city limits.

  • Repayment: The assistance is provided as a deferred loan, forgiven after 10 years if all program requirements are met.

City of St. Petersburg

Purchase Assistance Program

  • Assistance: Provides up to $40,000 for down payment and closing costs.

  • Eligibility: Applicants must be first-time homebuyers, meet income requirements, complete a homebuyer education course, and purchase a home within St. Petersburg city limits.

  • Repayment: The assistance is structured as a 0% interest, deferred loan, forgiven after 10 years if the property remains the primary residence.

These programs can only be handled by approved lenders. If you would like help from a local realtor familiar with the programs and lenders with access, fill out this form here and I will connect you with one.