Florida first-time homebuyer programs
Most offer 30-year loans with down payment assistance
+1 more
For many first-time buyers, the biggest hurdle to homeownership isn’t the monthly mortgage — it’s coming up with the money needed to close. Down payments and closing costs can add up to thousands of dollars upfront, which puts homeownership out of reach for many. The state of Florida offers multiple programs that can help.
Through Florida Housing and local Housing Finance Authorities, qualified buyers can access 30-year fixed-rate mortgages with down payment assistance, often in the form of deferred or forgivable second loans.
Most programs come with requirements, like completing a homebuyer education course, meeting income and purchase price limits, and using an approved lender. In some areas, these programs extend to repeat buyers and those purchasing in designated target zones.
Florida Housing offers 30-year fixed-rate loans with down payment assistance for eligible first-time buyers.
Jump to insightSome second mortgages are deferred or forgivable, depending on the program.
Jump to insightMost programs require buyers to meet income and price limits and complete homebuyer education.
Jump to insightLocal Housing Finance Authorities may offer extra down payment assistance in select counties.
Jump to insightCertain counties offer relaxed eligibility rules, even for non–first-time buyers.
Jump to insightFlorida Housing’s first-time homebuyer programs
Many first-time homebuyer programs sponsored by the Florida Housing Finance Corporation (FHFC) offer down payment assistance and competitive interest rates on 30-year mortgages for new homeowners who qualify.
The FHFC partners with lenders to offer fixed-rate mortgages. Eligible participants can also choose a Florida Housing second mortgage program to help with a down payment and closing costs.
Income limits, purchase price caps, credit score minimums and other eligibility requirements vary by county.
You can review the income and purchase price limits for your county on the Florida Housing website. You can also review the down payment assistance programs and contact a participating lender from the website.
» LEARN: First-time homebuyer benefits
Down payment assistance options
There are several down payment assistance programs offered by the Florida Housing Finance Corporation (FHFC) that can help new homebuyers purchase their first home. These programs come in the form of second mortgages, which are deferred for a set period or until you sell the home. Some options are even forgivable if you qualify.
Down payment assistance eligibility in Florida
To qualify for Florida Housing’s down payment assistance programs, you must:
- Have a minimum credit score of 640
- Work with a participating program lender
- Complete an approved homebuyer education class
- Keep your purchase price below the limit for your county
- Maintain an income below the limit for your county
- Meet the IRS definition of a first-time homebuyer
» LEARN: How to qualify for a mortgage
Florida Assist
Florida Assist (FL Assist) offers a deferred second mortgage with a 0% annual percentage rate (APR) to help pay for your down payment and closing costs. You can borrow up to $10,000 with Federal Housing Administration (FHA), VA, United States Department of Agriculture (USDA) and conventional loans.
The loan is nonamortizing, meaning you won’t accrue interest or make payments unless you move, are evicted or refinance. The loan isn’t forgivable. Repayment is deferred but still required when you sell the home or no longer occupy it. In some cases, your second mortgage may also become due if you pay off your first mortgage.
Florida Hometown Heroes Housing Program
The Florida Hometown Heroes Housing Program provides down payment assistance, low-rate mortgages and reduced fees for income-qualified employees of Florida-based businesses.
You can borrow up to 5% in down payment assistance in the form of a 0%, nonamortizing deferred second mortgage. This means you won’t have any payments on the loan, and it becomes due when you sell your home, refinance or no longer occupy the property as your primary residence. This loan isn’t forgivable.
Florida Homeownership Loan Program second mortgage
The Florida Homeownership Loan Program (FL HLP) offers a fully amortized second mortgage with a 3% APR to help pay for your down payment and closing costs. You can borrow up to $10,000 on FHA, VA, USDA and conventional loans to purchase a home.
The 3% loan is fully amortized over a 15-year period, meaning you’ll make monthly payments in addition to your first mortgage. If you sell the home, refinance or move out before the 15 years are up, the remaining balance will become due at that time.
FL HLP second mortgages aren’t forgivable, and the monthly payment may need to be considered in your debt-to-income ratio when qualifying for your home mortgage.
Forgivable second mortgages
The Housing Finance Authority (HFA) Preferred and HFA Advantage second mortgage programs offer up to 5% in forgivable down payment assistance for the purchase of your first home. You must use Florida Housing’s conventional HFA Preferred or HFA Advantage first mortgage products to qualify.
As with other down payment assistance programs, income limits and home price limits apply, depending on the county where you are looking to buy a home.
The second mortgage is forgiven at a rate of 20% per year for the first five years of your mortgage. After five years, the loan is completely forgiven.
» COMPARE: Best mortgage lenders for first-time buyers
HFA programs
The HFA of Florida offers programs that provide affordable housing and down payment assistance to qualified first-time homebuyers in specific counties. A new program launched in May 2025 offers up to $12,000 in down payment assistance in Pinellas County and up to $8,000 in Pasco and Polk counties.
The assistance comes as a 0% interest, non amortizing, deferred second mortgage. This loan is not forgivable and must be repaid if you sell or refinance the home, pay off the first mortgage, rent it out or move out.
These programs can be used with FHA, VA, USDA Rural Development and conventional loans. The down payment assistance program has income limits that vary by county, and you must take a first-time homebuyer education class to qualify.
Homebuyer education classes
You'll be required to take a homebuyer education class if you use most first-time homebuyer or down payment assistance programs in Florida. These education classes must be approved by the U.S. Department of Housing and Urban Development (HUD) and completed prior to obtaining down payment assistance.
The classes cover the homebuying process, how to get approved for a mortgage, how to shop for lenders and how to maintain your home. The goal is to help new homebuyers feel comfortable with the responsibility and financial burdens of homeownership.
In Florida, each county has a list of HUD-approved classes available, but there are also a few companies that offer online classes, including:
- eHome America
- HomeTrek
- HomeBuyer Certification (free course with code “flnj”)
Target areas and income requirements
Most first-time homebuyer programs have target areas and income requirements that determine eligibility for down payment assistance. You can use the Florida Homebuyer Program Wizard to figure out the limits in your area.
For example, if you’re using the forgivable down payment assistance through HFA Preferred or HFA Advantage second mortgages in Pinellas County, the income limit for a family of five is $114,600. The home purchase price limit is $766,550.
Some programs are only available in specific counties. For example, the HFA recently launched a program that offers up to $12,000 in down payment assistance in Pinellas County and up to $8,000 in Pasco and Polk counties.
Some target areas in Florida offer relaxed eligibility requirements for down payment assistance programs:
- You don’t have to be a first-time homebuyer.
- Income limits are higher.
- Home price limits are higher.
You can search for target areas by visiting the Federal Financial Institutions Examination Council website and entering the address of the house you’re looking to buy. Look for the census tract number and check if it qualifies as a target area in your county.
FAQ
What is the $7,500 first-time homebuyer grant in Florida?
The Florida Assist program used to offer a $7,500 grant for qualified first-time homebuyers, but recently, the amount has increased to $10,000. Borrowers can get a second mortgage with 0% APR worth up to $10,000 to help pay for a down payment and closing costs. The program can be used with FHA, VA, USDA and conventional loans and comes with income and home price limits.
How do I qualify for the first-time homebuyer grant in Florida?
To qualify for Florida’s first-time homebuyer grant, you must use an HFA Preferred or HFA Advantage mortgage through Florida Housing. Your income and the price of the home must fall within the limits set for your county. If you qualify, you’ll receive a second mortgage with no interest that will be forgiven after five years of on-time payments.
What is the $35,000 down payment assistance program in Florida?
Florida’s Hometown Heroes program offers up to $35,000 in down payment assistance for borrowers employed by a Florida-based business. The program also includes lower interest rates with no discount points or origination fees, which reduces your out-of-pocket costs at closing.
The $35,000 is provided as a 0% interest, deferred second mortgage with no monthly payments. However, the full amount must be repaid when you sell the home, refinance or no longer occupy the home as your primary residence.
How can I apply for Florida’s first-time homebuyer programs?
To apply for Florida’s first-time homebuyer programs, start by choosing a participating lender from Florida Housing’s approved list. The lender will help you understand eligibility, income limits and credit score requirements.
You can also use Florida Housing’s Homebuyer Program Wizard to see which programs you may qualify for based on your location and household size.
Once you've selected a program, the lender will guide you through applying for your mortgage and discuss any available down payment assistance that might be available to you.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Florida Housing Finance Corporation, “Homebuyer Overview.” Accessed May 14, 2025.
- Florida Housing Finance Corporation, “Hometown Heroes.” Accessed May 14, 2025.
- Pinellas County, “Housing Finance Authority First-Time Homebuyer Program.” Accessed May 14, 2025.
