Florida’s 24+ First time homeowners have many down payment assistance programs available to them. There are Federal, statewide, local programs at the counties level and major cities also have their own.
You can find the list and resources below.
Statewide Down Payment Assistance
Florida Housing Finance Corporation (Florida Housing)
Florida Assist Second Mortgage Program (FL Assist):
- – Provides up to $10,000 in down payment and closing cost assistance.
- – Offered as a 0% interest, deferred second mortgage.
- – Repayment is deferred until the home is sold, refinanced, or the mortgage is paid off.
- More info
Florida Homeownership Loan Program (HLP) Second Mortgage:
- – Provides up to $10,000.
- – Repayment is in monthly installments at 3% interest over 15 years.
- More info.
Salute Our Soldiers Military Loan Program:
- – Tailored for veterans and active-duty military members.
- – Includes down payment and closing cost assistance paired with competitive fixed-rate first mortgages.
- More info
Preferred Down Payment Assistance Program:
- – Offers a grant of 3-5% of the loan amount.
- – Does not need to be repaid.
- More info
Federal Programs with Low Down Payment
The federal programs are not traditional down payment assistance but since those mortgages require low down payment it’s important to keep them in mind if you have little funds for a down-payment. They’re available across Florida.
FHA Loans (Federal Housing Administration):
- – FHA loans allow borrowers to make a down payment as low as 3.5%.
- – Borrowers can use gift funds or assistance from local or state programs for the down payment.
- More info.
VA Loans (U.S. Department of Veterans Affairs):
- – Available to eligible veterans, active-duty service members, and some surviving spouses.
- – Requires no down payment and no private mortgage insurance (PMI).
- More info
USDA Loans (U.S. Department of Agriculture):
- – For rural and some suburban homebuyers only.
- – Offers 100% financing with no down payment required, and closing costs can be rolled into the loan.
- More info
Fannie Mae HomeReady and Freddie Mac Home Possible:
- – Conventional loan programs that allow down payments as low as 3%.
- – Assistance can be combined with local or state programs.
- Fannie Mae info and Feddie Mac info.
Florida’s Counties Down Payment Assistance Programs
Almost each county in the state has its assistance program for first time homeowners. If you don’t see your county listed below, go look direct on their site under their home buyers or new homeowners page.
Miami-Dade County
- Miami-Dade County Homebuyer Down Payment Assistance Program: Offers interest-free loans up to $35,000 for first-time homebuyers to cover down payment and closing costs. Eligibility is based on household income. More info.
- Miami-Dade Economic Advocacy Trust (MDEAT) Homeownership Assistance Program: Provides zero-interest deferred loans to low-to-moderate-income homebuyers for down payment and closing costs on their primary residence. More info.
- City of Miami First-Time Homebuyer Program: Offers zero-percent deferred loans to first-time homebuyers purchasing property within the City of Miami. Assistance amounts are determined based on income categories. More info.
Broward County
- Broward County Homebuyer Purchase Assistance Program: Provides deferred payment second mortgages up to $40,000 at 0% interest with a 15-year term to qualified homebuyers. Funds are available on a first-come, first-qualified, first-served basis. More info
- City of Oakland Park First-Time Homebuyers Purchase Assistance Program: Offers deferred payment second mortgages up to $40,000 at 0% interest with a 15-year term to eligible homebuyers. Funds are limited and provided on a first-come, first-qualified, first-served basis. More info.
- City of Margate Homebuyer Purchase Assistance Program: Provides up to $40,000 in assistance for eligible buyers purchasing a home in Margate. Funding is limited and available on a first-come, first-qualified, first-served basis. More info.
Hillsborough County
- Hillsborough County First-Time Homebuyer Down Payment Assistance Program: Offers up to $25,000 to assist with down payment and closing costs for eligible first-time homebuyers. Assistance is provided as a deferred, zero-interest loan forgiven after 10 years if the property remains the primary residence. More info.
Palm Beach County
- Palm Beach County Down Payment Assistance Program: Provides up to $50,000 in down payment and closing cost assistance to eligible first-time homebuyers. The assistance is offered as a deferred, zero-interest loan forgiven after 15 years if the property remains the primary residence. More info.
Orange County
- Orange County Down Payment Assistance Program: Offers up to $30,000 to assist with down payment and closing costs for eligible first-time homebuyers. Assistance is provided as a deferred, zero-interest loan forgiven after 10 years if the property remains the primary residence. More info.
Duval County
- Head Start to HOME Ownership Program (H2H): Provides up to $25,000 in down payment and closing cost assistance to eligible first-time homebuyers in Jacksonville. Assistance is offered as a forgivable loan with specific residency requirements. More info.
Pinellas County
- Pinellas County Down Payment Assistance Program: Offers up to $20,000 in down payment and closing cost assistance to eligible first-time homebuyers. Assistance is provided as a deferred, zero-interest loan forgiven after 10 years if the property remains the primary residence. More info.
Lee County
- Lee County FirstPlus Program: Provides down payment and closing cost assistance to first-time homebuyers through a second mortgage. The program operates on a first-come, first-served basis and offers favorable terms. More info.
Polk County
- Polk County Down Payment Assistance Program: Offers up to $30,000 in down payment and closing cost assistance to eligible first-time homebuyers. Assistance is provided as a deferred, zero-interest loan forgiven after 10 years if the property remains the primary residence. More info.
Brevard County
- City of Palm Bay HOME Down Payment Assistance Program: Provides assistance to income-eligible applicants for down payment and closing costs to purchase their first home, including rehabilitation if needed. More info.
If you don’t see your county listed below, go look direct on their site under their home buyers or new homeowners page.