Florida Down Payment Assistance

Compare the top down payment assistance programs and first time home buyer programs available in Florida. We offer this information free to you as a service to our local community. These Down Payment and Closing Cost Assistance programs can only be provided by Lenders who have been approved by the appropriate Institutional Investors. If you would like to learn more about which Realtor's and Lenders are qualified, or if you would like to be pre-approved for any of these programs, please feel free to contact us. It's a QUICK and FREE process.

• 2020 NON-HHF Conventional Income and Purchase Limits
• 2020 HHF Conventional Income and Purchase Limits
• 2020 FHA Income and Purchase Limits
• 2020 HHF FHA Income and Purchase Limits
• 2020 Pinellas - Pasco - Polk Income and Purchase Limits
• 2020 Own A Home Opportunity Grant Income Limits
• 2020 Sapphire Income Limits

2020 FLORIDA CONVENTIONAL HFA (HOUSING FINANCE AUTHORITY) BOND PREFERRED DOWN PAYMENT ASSISTANCE PROGRAM FOR HILLSBOROUGH, PASCO, PINELLAS, POLK, ORANGE, OSCEOLA, DUVAL, VOLUSIA, CLAY, ST LUCIE, BREVARD COUNTIES.

• 30-year, fixed-rate first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan. Borrowers who qualify for this first mortgage program are automatically qualified for one of Florida Housing's down payment assistance programs.
• First Time Home Buyer or Spouse haven't owned a property for at least 3 years.
• Down Payment Assistance comes in the form of a $7,500 0% interest mortgage loan. The down payment assistance can be used (http://floridadownpaymentassistance.com/) for the down payment, Buyers mortgage closing costs, or split pay mortgage insurance premium to lower mortgage insurance cost.
• Must be primary residence.
• Credit score 660 minimum for 95% LTV or less - 700 credit score required for 95%-97% LTV
• Maximum LTV 97%- 105% CLTV
• No cash back at closing, any excess funds will be used as principle reduction.
• 1 unit only - Single Family Residence, Townhouses with 95% LTV or below.
• Only Applicant income used for qualification purposes.
• 44.9% debt to income ratio or less.
• Lower mortgage insurance rates for Borrower on Conventional program.
• Allows up to 3% Seller contribution maximum towards Buyers closing costs.
• Purchase only No Construction to Perm loans, no investment purchases, no refi's
• Purchase price limits determined by 140% of HUD county median income limits. See 2016 Income limits hyperlink above for "2016 Conventional Excludes HHF Counties".
• Owner Occupants only.
• 2 hour Buyer Mortgage Insurance education required or any 6-8 hour HUD approved agency (online or in-person) or approved mortgage insurance education class from MGIC or Genworth
• Florida e-housing fee's $225 compliance fee + $300 US Bank funding fee + $85 tax service fee calculated minus the $7,500 down payment assistance.
• Fannie Mae guidelines apply to this product.
• Co-Signors not permitted
• Lender Credit not available.
• This program can be used anywhere in the State of Florida.
• The FL Assist offers a 30 year, fixed, deferred but accelerated upon any of the following - the sale, transfer or other disposition of the property (including involuntary transfer by or as a result of foreclosure or judicial sale or operation of law), refinance or satisfaction of the Florida Hardest Hit Fund first mortgage loan. The FL Assist is repayable and is forgiven.

• 30-year, fixed-rate first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan. 
• First Time Home Buyer or Spouse haven't owned a property for at least 3 years
• 3% of the purchase price is in the form of a grant that does not require repayment by the borrower. (http://floridadownpaymentassistance.com/) This can be used for down payment, Buyers mortgage closing costs, or can also be used to "split pay" mortgage insurance premium to lower mortgage insurance cost or pay mortgage insurance completely off.
• This program allows for higher borrower income limits.
• This program can be used anywhere in the State of Florida.
• Credit score 680 minimum for 95% LTV or less - 700 credit score required for 95%-97% LTV
• Maximum LTV 97%- 105% CLTV
• No cash back at closing, any excess funds will be used to pay down first mortgage.
• 1 unit only - Single Family Residence, Townhomes & Condos with 95% LTV or below.
• No household income limitation- Only Applicant income for qualification purposes.
• 44.9% debt to income ratio or less.
• Lower mortgage insurance rates for Borrower with this Conventional program.
• Mortgage Insurance rates could be reduced or even paid off at Closing.
• Seller contribution 3% maximum towards Buyers closing costs.
• Purchase only, no construction to permanent loans - no investment properties.
• Purchase price limits determined by county median income limits. See Income Limits above.
• Owner Occupants only-No Investors.
• Lender Credit not available.
• 2 hour Buyer education required or any HUD approved agency (online or in-person) or approved 1 hour mortgage insurance education class from MGIC or Genworth
• Florida e-housing fee's $225 compliance fee + $300 US Bank funding fee + $85 tax service fee at closing to be deducted from the 3% Grant.
• Fannie Mae guidelines apply.
• Co-Signors not permitted.

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers in Hillsborough County Florida who meet income, purchase price and other program guidelines, and can otherwise qualify for an FHA mortgage loan.
• Maximum Purchase price: Please see hyperlinks above, FHA - HHF Includes 11 Counties.
• The assistance comes in the form of a $15,000 0% interest, fixed-rate second mortgage 5 year Forgivable GRANT. Only one Florida down payment program can be used by the borrower per transaction.
• The Down Payment Assistance loan is repaid if the homebuyer sells the home, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home. This program targets applicants whose incomes are at or below 140% of the HUD area median income (AMI), adjusted for family size.
• Maximum Household Income for Hillsborough County Florida included all people in household 18 years and older =.Please see Link above for "FHA - HHF $15,000 Includes the 11 counties".
• First Time Homebuyer's or Borrowers or Spouse have not owned a home in the last 3 years.
• Receive up to $15,000 in State of Florida bond money with no monthly payment required. 
• Do NOT have to pay Intangible Tax or Documentation Stamps (savings of approximately .05% of loan amount)
• $15,000 Grant forgiven at a rate of 20% per year based on FHA guide lines.
• Minimum Funds directly from Buyer of $1000.00 to Close on Home
• Minimum 640 middle FICO credit score to qualify.
• 44.99% Debt to Income or less.
• Low fixed mortgage interest rates
• Can purchase new or resale homes
• 8 hour HUD approved Mortgage Counseling course required.
• No Bankruptcies in last 2 years and no foreclosure last 3 years.
• Primary Residences only, no second homes or investment properties.
• No Prepayment Penalty Fee if 1st mortgage loan is paid out early.
• No cash back at closing, any excess funds will be used to pay down first mortgage. In excess money will be used as a Principle Reduction. 
• Borrowers are permitted a reimbursement of prepaids and reimbursement of overage of earnest money deposit to the extent any minimum contribution has been satisfied and permitted by Agency guidelines.
• Credit restrictions: Minimum 640 middle FICO, Bankruptcies discharged over 2 years or Foreclosures 3 years, minimum 2 trade lines with no late's in last 12 months, No NSF's in last 6 months.
• Buyers can use Non-Owner Occupants to co-sign the loan but a full Underwrite is required of the Non-Owner Occupant on same Mortgage Application. FHA ONLY NOT Conventional Bond. Co-Borrower named on Mortgage only and cannot be named on Warranty Deed.
• Lender credit not available.
• No Manual underwrites or alternative credit allowed.
• Income must be supported by paystub's and 2 year history of continuous employment. Gaps in employment can be considered. 2 year overall employment required.
• Refinances: Not permitted.

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers in Hillsborough, Brevard, Clay Counties and City of Jacksonville Florida who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan.
• Maximum Purchase price: please see Purchase Price link above for all "Purchase Price Limits all counties.
• The assistance comes in the form of a $15,000 - 0% interest loan, fixed-rate second mortgage . Only one Florida down payment program can be used by the borrower per transaction per transaction.
• The Down Payment Assistance loan is repaid if the homebuyer sells the home, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home. This program targets applicants whose incomes are at or below 120% of the HUD area median income (AMI), adjusted for family size.
• Maximum Household Income for all people in household 18 years and above. Please see 2016 FHA-HHF Income limits above.
• First Time Homebuyers or Borrowers or Spouse have not owned a home in the last 3 years.
• Receive $15,000 in State of Florida bond money with no monthly payment required. 
• Interest Free loan of $15,000 for Hillsborough County Florida County Down Payment Assistance.
• Intangible Taxes and State Documentation Stamps NOT exempt with this product.
• Minimum Funds directly from Buyer of $1000.00 to Close on Home
• Minimum 660 FICO credit score to qualify
• 44.9% Debt to Income or less
• Low fixed mortgage interest rates. As of 7-4-2016 the base interest rate is 3.875%. APR may be higher depending on who pays for APR items. 
• Can purchase new or resale homes
• 8 hour HUD approved Mortgage Counseling course required
• No Bankruptcies in last 2 years and no foreclosure last 3 years
• Primary Residences only, no investments, no mobile homes or second homes.
• No Prepayment Penalty Fee if loan is paid out early
• No cash back at closing, any excess funds will be used to pay down first mortgage. However, borrowers are permitted a reimbursement of prepaids and reimbursement of overage of earnest money deposit to the extent any minimum contribution has been satisfied and permitted by Agency guidelines.
• Buyers can use Non-Owner Occupants to co-sign the loan but a full Underwrite is required of the Non-Owner Occupant on same Mortgage Application. FHA ONLY NOT Conventional Bond. Co-Borrower named on Mortgage only and cannot be named on Warranty Deed.
• Credit restrictions: Minimum 660 middle FICO, Bankruptcies discharged over 2 years and Foreclosures 3 years, 3 trade lines with no lates in last 12 months, No NSF's in last 6 months, Non-traditional credit not allowed.
• Lender Credit not available.
• Income must be supported by paystubs and 2 year history of continuous employment.
• Co-Signors permitted on the Mortgage NOT the Warranty Deed. FHA Only NOT Conventional.
• Refinances: Not permitted.

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers in Manatee County Florida only who meet income, purchase price and other program guidelines, and can otherwise qualify for an FHA mortgage loan.
• Maximum Purchase price: Please see links above for FHA that EXCLUDES the 11 HHF counties.
• The assistance comes in the form of a 0% interest or low, fixed-rate $10,000 second mortgage. Only one Manatee County Florida down payment program can be used by the borrower per transaction.
• The Down Payment Assistance loan is repaid if the homeowner sells the home, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home. This program targets applicants whose incomes are at or below 120% of the HUD area median income (AMI), adjusted for family size.
• Maximum Household Income for Manatee County Florida included all people in household 18 years and older. 1-2 person = $69,339 - 3 plus people = $79,740
• NO First Time Homebuyers requirement..
• Receive $10,000 0% interest loan in Manatee County Florida bond money with no monthly payment required. 
• Mortgage Credit Certificate can be issued on all 1st mortgage loan if Borrower qualifies.
• Interest rates are generally at least .25% lower than the State of Florida programs.
• Interest Free Loan up to $10,000 for Manatee County Florida County Down Payment Assistance.
• Minimum Funds directly from Buyer of $1000.00 to Close on Home
• Minimum 640 FICO credit score to qualify
• 44.9% DTI or less
• Low fixed mortgage interest rates
• Can purchase new or resale homes
• 8 hour HUD approved Mortgage Counseling course required
• No Bankruptcies in last 2 years and no foreclosure last 3 years, No NSF's in last 6 months, No late credit payments last 12 months.
• Primary Residences only
• No Prepayment Penalty Fee if loan is paid out early
• No cash back at closing, any excess funds will be used to pay down first mortgage
• Credit restrictions: Minimum 640 middle FICO, Bankruptcies discharged over 2 years or Foreclosures 3 years, 2 trade lines with no lates in last 12 months, No NSF's in last 6 months, Non-traditional credit not allowed.
• Income must be supported by pay-stubs and 2 year history of continuous employment for w-2 employees or 1099's, K1's and minimum 2 years business tax returns for the self employed. 
• Refinances: Not permitted.

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines for FHA guidelines and can otherwise qualify for an FHA mortgage loan. 
• The assistance comes in the form of a 0% interest or low, fixed-rate second mortgage. Only one Florida Housing down payment program can be used by the borrower and only in conjunction with the FHA, VA, USDA-RD or Freddie Mac HFA Advantage program first mortgage products.
• The Down Payment Assistance loan is repaid if the homebuyer sells the home, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home. 
• First Time Homebuyers or Borrowers or Spouse have not owned a home in the last 3 years.
• Receive $15,000 in Pinellas county, Polk county $7500 & Pasco county $7500.
• Housing Finance Authority bond money with no monthly payment required.
• Minimum Funds directly from Buyer of $1000.00 to Close on Home
• 44.9% Debt to Income ratio or less
• Can purchase new or resale homes
• Borrower must occupy the Home within 60 days of Closing.
• 8 hour HUD approved Mortgage Counseling course required
• No Bankruptcies in last 2 years and no foreclosure last 3 years.
• Income LImit for this program is $70,800 1-2 person household, $82,660 for 3+ household, all three counties.
• Primary Residences only. No Investment or second home properties.
• No Prepayment Penalty Fee if loan is paid out early.
• Doc Stamps $350/per $1000 NOT Exempt on this program.
• Intangibles Taxes $200 / per $1000 NOT Exempt on this program.
• Lender credit not available.
• No cash back at closing, any excess funds will be used to pay down first mortgage
• Credit restrictions: Minimum 660 middle FICO, 1 tradeline minimum with no lates in last 12 months, No NSF's in last 6 months.
• Income must be supported by paystubs and 2 year history of continuous employment. 
• No Manual Underwrites.
• Maximum purchase price is $255,573.
• Cosigners permitted for FHA / VA Loans cannot be named on Warranty Deed.
• Refinances: Not permitted.
• Manufactured Homes NOT permitted.

• Provides up to 4.5% in down payment assistance in ALL Florida Counties for FHA Loans
• Down Payment Assistance is forgiven at the Closing table. 
• Buyer does not need to be first time Home Buyer.
• Must be primary residence, no Investors.
• 30 year fixed term.
• Competitive mortgage Interest rates.
• Can be used with VA Mortgages (4.5%), FHA Mortgages (4.5%) and USDA Mortgages (3%)
• Borrower must have at least 1 active trade lines.
• Supplemental Alternative credit allowed .
• Maximum Income Limits set at 115% of Florida County the house is located.
• Maximum purchase price of FHA limits in area purchased. Generally the lesser of $417,000 (not including MI) or maximum loan amounts permitted by HUD
• Lender credit available not available.
• Minimum middle FICO credit score is 620.
• Maximum debt-to-income 47%
• No Prepayment Penalty Fee if loan is paid out early.
• No cash back to Borrower/Buyer
• Seller can tribute up to 6% towards Buyers Closing Costs.
• No 203k Renovation loans allowed.

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who purchase price and other program guidelines, and can otherwise qualify for a loan. 
• No income limits.
• No FICO credit scores but alternative credit such as rental history, cell phone statements, utility statements etc...
• No first time home buyer requirement.
• up to 2% of the loan amount is in the form of a Lender credit that does not require repayment by the borrower. (http://floridadownpaymentassistance.com/) This can ONLY be used for Closing Costs, NOT the down payment.
• This program allows for higher borrower income limits without credit scores.
• This program can be used anywhere in the State of Florida.
• Ratio's = 33% frontend and 43% backend with 3.5 % down payment due from Buyer in the form of the Earnest Money Deposit, the appraisal fee and the rest of the 3.5% at Closing.
• No cash back at closing, 
• 1 unit only - Single Family Residence, Townhomes & Condos with 96.5% LTV or below.
• No household income limitation- Only Applicant(s) income for qualification purposes.
• Seller contribution 6% maximum towards Buyers closing costs.
• Purchase only, no construction to permanent loans - no investment properties.
• Purchase price limits determined by FHA guidelines only
• Owner Occupants only-No Investors.
• 2 hour Buyer education required or any HUD approved agency (online or in-person) or approved 1 hour mortgage insurance education class from MGIC or Genworth
• FHA Guidelines.
• Co-Signors permitted.

• Provides 4:1 matching funds up to $5,000 for Borrowers not involved in the occupations below
• Provides 4:1 matching funds up to $7,500 for those involved in Public Safety, Medical, or Education
• Buyer must be First Time Homebuyer or hasn't owned a home in 3 years
• Primary Residences only.
• Lender credit available..
• Maximum purchase price not to exceed the FHA limits in the counties being considered
• Income must be at or under 80% of the HUD Median Income
• 1 hour Mortgage Counseling conversation required
• No Bankruptcies in last 2 years and no foreclosure last 3 years
• Minimum middle credit score 620
• Maybe combined with VA Loans written by same Lender
• No Prepayment Penalty Fee if loan is paid out early

• Provides up to 102% financing in participating Florida Counties
• Buyer does not need to be 1st time Home Buyer.
• Borrower must have three active trade lines, no alternative credit.
• Higher Income Limits than typical state or county programs.
• Maximum purchase price of FHA limits in area purchased. 
• Lender credit available.
• No Prepayment Penalty Fee if loan is paid out early.
• Seller can tribute up to 6% towards Buyers Closing Costs.

• No down payment as long as the sales price doesn't exceed the appraised value.
• No First Time Homeowner required.
• Can be combined with Florida Bond program.
• No private mortgage insurance premium requirement.
• VA rules limit the amount you can be charged for closing costs.
• Closing costs may be paid by the seller.
• No Prepayment Penalty Fee if loan is paid out early
• Lender credit not available.
• VA may be able to provide you some assistance if you run into difficulty making payments
• You can reuse the benefit.
• VA-backed loans are assumable, as long as the person assuming the loan qualifies.
• Must have Certificate of Eligibility
• Primary Residences only

               (Lee, Sarasota, Collier, DeSoto, & Palm Beach Counties only) 

• 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The program is offered to all borrowers who meet income, purchase price and other program guidelines, and can otherwise qualify for a loan.
• Maximum Purchase price: Please see Income Limitations and Acquisition Price above for "Own A Home Program".
• The assistance comes in the form of a 4% or 5% Grant at Closing.
• No Conventional loans, only FHA mortgage loans, USDA mortgage loans & VA mortgage loans
• Maximum Household Income: Please see Income Limitations and Acquisition Price above for "Own A Home Program".
• No First Time Home Buyer restriction.
• No Work Visa, student visa, any temporary visa's qualify
• Interest rates are generally at least .25% lower than the State of Florida programs.
• Do NOT have to pay Intangible Tax or Documentation Stamps (savings of approximately .05% of loan amount)
• Minimum Funds directly from Buyer of $1000.00 to Close on Home
• Minimum 660 FICO credit score on FHA, VA, USDA to qualify for 5% grant at Closing table.
• Minimum 640 FICO credit score to qualify for 4% grant at Closing table.
• ALL bank deposits OUTSIDE of payroll require detailed explanations.
• 44.9% Debt to Income ratio or less
• Low fixed mortgage interest rates
• Can purchase new or resale homes
• No 8 hour HUD approved Mortgage Counseling course required.
• No Bankruptcies in last 2 years and no foreclosure last 3 years.
• Primary Residences only
• No Prepayment Penalty Fee if loan is paid out early
• While there is no cash back in this program, the
• borrower may be reimbursed for any over payment of escrow to the extent permitted by Agency (FHA, VA) guidelines. 
• Pay stubs and W-2's required.
• No possibility of Recapture Tax.
• Credit restrictions: No Manual Underwrites, 3 trade lines with no lates in last 12 months, No NSF's in last 6 months, Non-traditional credit not allowed.
• Cosigners Permitted for FHA loans under very specific conditions. Follow FHA guidelines for credit purposes only. Treat cosigner credit/income as directed by FHA. Cosigners are allowable in an FHA transaction when meeting the following conditions (1) a cosigner cannot have any ownership interest in the property (they cannot be on the Mortgage/Deed) and (2) the cosigner cannot reside in the property being purchased. A cosigner’s income is not considered for program purposes, tax returns/transcripts are not required and cosigners do not sign any program documents.
• Income must be supported by paystubs and 2 year history of continuous employment.
• No second mortgages remain.
• Refinances: Not permitted.
• Lender credit not available.
• Appraisal must indicate that the home has at least a 30 year remaining useful life.
• No exemption for Doc Stamps and Intangibles Tax.
• No Prepayment Penalties.