One of the biggest hurdles to homeownership for first-time buyers is the down payment. Luckily, there are a few down payment assistance programs that can help offeset some, or nearly all, of your closing costs!
Florida Down Payment Assistance Programs
Florida Assist
The FL Assist program, offered by the Florida Housing Finance Corporation (FHFC), provides up to $10,000 toward your down payment and/or closing costs. It’s issued as a 0% deferred second mortgage, meaning no monthly payments are required, and no interest accrues
Who’s Eligible
First-time homebuyers (no ownership in the last 3 years), with exceptions for veterans or buyers in targeted areas
Primary residence requirement—must live in the home
Minimum credit score of ~640
Income & purchase price limits, which vary by county
Completion of FHFC-approved homebuyer education course
Use of an FHFC-approved lender during financing
Key Features
$10,000 max assistance for either down payment or closing costs across FHA, VA, USDA, or conventional loans
Zero interest, no monthly payments—lightens upfront burden
Statewide coverage—available in every Florida county
Deferred repayment—repayment due upon sale, refinance, payoff of first mortgage, transfer, or when you cease living in the home
Not forgivable—loan must be repaid when triggered
Florida Homeownership Loan Program (FL HLP)
The FL HLP down payment assistance program, offered by the Florida Housing Finance Corporation (FHFC), provides up to $10,000 as a second mortgage to help with down payment and closing costs. It carries a fixed 3% interest rate over a 15-year fully amortizing term
Who’s Eligible
First-time homebuyers, defined as having no primary residence ownership in the past 3 years
Primary residence requirement—must live in the home
Minimum credit score of ~640
Income & purchase price limits, which vary by county
Completion of FHFC‑approved homebuyer education course
Use of an FHFC‑approved lender
Key Features
$10,000 max assistance for down payment & closing costs, when combined with an FHFC first mortgage
Low 3% interest, fully amortizing over 15 years with monthly payments.
Statewide coverage—available in all Florida counties.
Deferred repayment—repayment due upon sale, refinance, payoff of first mortgage, transfer, or when you cease living in the home
Not forgivable—loan must be repaid when triggered
HFA Preferred / Advantage PLUS Program
Through the Florida Housing Finance Corporation (FHFC), qualified borrowers using an HFA Preferred or HFA Advantage conventional first mortgage can access a forgivable second mortgage worth 3%, 4%, or 5% of their first mortgage principal. This loan is 0% interest, no monthly payments, and is erased at 20% per year over five years—fully forgiven if you remain in the home for that period.
Who’s Eligible
First-time or repeat buyers, no requirement to be purchasing for the first time
Must use an FHFC-approved HFA Preferred or HFA Advantage TBA conventional mortgage
Minimum credit score typically around 620–640 .
Income and purchase price limits apply by county, aligned with HFA mortgage requirements
Homebuyer education or counseling likely required if LTV exceeds 95% and first-time purchase
Key Features
Assistance level: Borrow 3%, 4%, or 5% of your total first mortgage amount
Forgiveness schedule: 20% forgiven per year over 5 years, fully forgiven if you stay through year 5.
0% interest, with no monthly payments required
Conventional loan only: Available only with HFA Preferred or HFA Advantage TBA conventional loans
Statewide availability, through FHFC-participating lenders
Hometown Heroes
The Florida Hometown Heroes Housing Program, run by the FHFC under the Live Local Act is one of the best down payment assistance programs. It offers up to 5% of the first mortgage amount (max $35,000) as a 0% interest, non‑amortizing deferred second mortgage for frontline workers. It helps cover down payment and closing costs, but the loan is not forgivable—repayment is required upon sale, refinance, deed transfer, or loss of residence.
This program was opened up to all Florida workers. However, new guidelines for the next round of funding will make eligibility occupation-specific.
Who’s Eligible
First-time homebuyers (no primary residence in past 3 years), except veterans, are exempt
Full‑time employment in Specified Fields
- Healthcare worker
- School staff member
- First responder
- Public safety employee
- Court employee
- Childcare worker
- A servicemember of the United States military or military reserves, the United States Coast Guard or its reserves, or the Florida National Guard
- A veteran employed full-time by a Florida-based employer
Primary residence requirement—move in within 60 days of closing
Minimum credit score around 640
Debt‑to‑income max ~50% (varies by loan type)
Income ≤150% AMI, county‑specific limits apply
Homebuyer education required (veterans may be exempt)
Must work with an FHFC‑approved lender and use an eligible first mortgage: FHA, VA, USDA, or conventional
Key Features
Assistance amount: 5% of the first mortgage or up to $25,000 or $35,000, depending on the county
0% interest, no monthly payments, 30‑year deferred second mortgage
Repayment triggers: Sale, refinance, renting, or moving out
Not forgivable—loan must be repaid when triggered
Lower first‑mortgage rates, reduced fees, and no origination or discount points
Tax exemptions: No documentary stamp or intangible tax on first or second mortgages
Homeownership might be more achievable than you thought through these down payment assistance programs! To get started with automatic email updates for homes that meet your criteria, fill out the form below or give us a call at (848) 218-8715.
