Florida Down Payment Assistance Programs
Down payment assistance (DPA) programs help Florida home buyers cover the upfront costs of purchasing a home. These programs offer grants, forgivable loans, or deferred-payment second mortgages that can cover part or all of your down payment and closing costs. Florida has both statewide programs through the Florida Housing Finance Corporation and local programs offered by counties and cities. Many buyers who qualify do not realize these programs exist.
Florida Housing Finance Corporation Programs
Florida Housing offers several programs for first-time buyers and other eligible borrowers. The Florida Assist program provides up to $10,000 as a deferred second mortgage with 0% interest, repayable only when you sell, refinance, or pay off the first mortgage. The HLP (Hardest Hit Fund Program) offers up to $15,000 in forgivable assistance. These programs are typically paired with an FHA, VA, or conventional first mortgage originated through a participating lender.
County-Level Down Payment Assistance in Florida
Many Florida counties offer their own DPA programs funded by local housing trust funds or federal Community Development Block Grants. Broward County, Miami-Dade County, and Palm Beach County each have programs for income-eligible buyers. Funding cycles vary and some programs are first-come, first-served. Check with your county housing authority for current availability and income limits.
Who Qualifies for Down Payment Assistance?
Eligibility varies by program but generally includes income limits (often set at 80% to 150% of area median income), first-time buyer status (not owning a home in the past three years), minimum credit score requirements, and a requirement to use the home as a primary residence. Some programs have purchase price limits tied to the county median home price.
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How to Apply for Down Payment Assistance
DPA programs are accessed through your mortgage lender, not directly from the program administrator. Your lender must be an approved participating lender for the specific program. Home Financial Group is approved to originate loans paired with multiple Florida Housing programs. We handle the DPA application as part of your mortgage process.
Can You Combine DPA With Other Programs?
In many cases, you can combine a down payment assistance program with an FHA or conventional loan. Some programs also allow layering state and local assistance. Your lender will identify which combinations are available for your situation and ensure all program requirements are met simultaneously.
Florida Down Payment Assistance Programs — Common Questions
It depends on the program. Some offer grants that never need to be repaid. Others provide forgivable loans that are forgiven after a set period (typically 5-15 years). Deferred second mortgages are repaid only when you sell, refinance, or pay off the primary mortgage.
Income limits vary by program and county. Florida Housing programs generally cap household income at 80% to 150% of the area median income. In Broward County, this may be around $80,000-$120,000 for a household of four, depending on the specific program.
Yes. Most Florida down payment assistance programs are specifically designed to pair with FHA first mortgages. The DPA can cover the 3.5% down payment and sometimes a portion of closing costs as well.
DPA approval is processed alongside your mortgage application. The additional time is minimal, typically adding only a few days to the overall timeline. Some programs require a homebuyer education course that can be completed online.
Some programs are available to repeat buyers, not just first-time purchasers. Eligibility often depends on income, the property location, and whether you currently own another home. Ask your lender about programs available in your target area.
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