Down Payment Assistance in Florida

There are several more Down Payment Assistance programs in Florida. A more comprehensive list of programs can be viewed at FloridaFirstTimeHomeBuyer.info

2019 - 101% Conventional Financing with $0 Mortgage Insurance available for entire State of Florida.

  • 30-year 97% LTV first mortgage loan coupled with a FNMA Community Second Mortgage of 4% interest only on the second mortgage.
  • Second mortgage is termed out for 30 year interest only payment.
  • There is No dollar limit to the second mortgage interest only loan.
  • No upfront or monthly mortgage insurance is required by Borrower.
  • The program is available to anyone who can qualify for a Fannie Mae Conventional Loan.
  • Finance 100% of the purchase price using a 97% First Mortgage and 4% Second mortgage. 1% of the second mortgage can be used towards Buyers Closing Costs.
  • Interest rate is dependent on Borrower(s) FICO credit score.
  • This program allows for higher borrower income limits of 140% of the HUD Median Income for the county where the property is located.
  • This program can be used in all Florida Counties.
  • Maximum LTV 101% loan amount up to Conventional loan limits per individual county.
  • 1 unit only - Single Family Residence or Townhouses only.
  • Borrowers 1003 income used only for household income limitation. Only Applicant 1003 income used for qualification purposes.
  • NO mortgage insurance for Borrower with this Conventional loan program.
  • Seller contribution 3% maximum towards Buyers closing costs.
  • There are no targeted areas for this loan program.
  • Purchase only, no construction to permanent loans - no investment properties.
  • Owner Occupants only, No Non-Owner Occupied Co-Signors allowed. No Investors allowed.
  • 2-years of Federal Tax returns required.
  • First Time Home Buyer requirement for at least 1 Borrower in transaction, otherwise only 80% of the HUD median income applicants are allowed and used for income qualification purposes.
  • Fannie Mae Buyers Education Classes required. HUD Approved Buyers Education classes are not allowed to be used for this down payment assistance program.
  • Gift Funds from family and employers allowed.
  • Loan must be approved with Automated Underwriting. No Manual Underwriting allowed. No non-traditional credit can be used.
  • No cash back at closing with only exceptions being Earnest Money deposit, Appraisal money and Home Inspection funds with receipt and evidence of home inspection.

2019 Florida - (HFA) Housing Finance Authority 100% Financing for the entire State of Florida

  • Florida Home Ownership Program HLP $10,000 monthly payable second mortgage or $7,500 silent second mortgage (presumably 100% Financing).
  • This Down Payment Assistance program is offered to all FHA or Fannie Mae Conventional Borrowers in the State of Florida who meet income, purchase price and other program guidelines, and can qualify for an FNMA conventional 1st mortgage loan.
  • Buyers who qualify for the Florida First HFA (FHA or Conventional version) of loan automatically qualify for these second mortgage programs. (100% financing).
  • This loan must be used in conjunction with a State of Florida Assist FHA or Conventional first mortgage loan.
  • HLP Version (either FHA or Conventional) is a 15 year - 3% amortized monthly payments on the second mortgage are approximately $68 per month until the amortized loan of $10,000 has been paid off.
  • Florida Assist Version (either FHA or Conventional) is a $7,500 silent second mortgage at 0% interest. This $7,500 must be repaid when the property sells, is refinanced, rented out or when the Mortgagor leaves the property for any reason.
  • Maximum Purchase price for home. Please see above link.
  • Maximum Household Income per county, Please see above link.
  • The balance of either version of second mortgage is payable and due under the following circumstances. The Down Payment Assistance loan is immediately repaid if the homebuyer sells the home, pays off the 1st mortgage, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home.
  • First Time Homebuyer's or Borrowers or Spouse have not owned a home in the last 3 years.
  • FHA Version is 44.99% Debt to Income or less.
  • Conventional Version has a possible 49.99% Debt-to-Income ratio or whatever Automated Underwriting will approve.
  • Must be First Time Home Buyers or not have owned a home in past 3 years.
  • Low fixed first mortgage interest rates
  • Can purchase new or resale homes
  • Single Family Residences, Townhouses, Villas and Program APPROVED Condos, NO Manufactured homes.
  • Buyers must occupy within 60 days of Closing.
  • Bond version of program includes ALL income of Household whether or not all the residents are on the actual mortgage.
  • TBA version of program, income is ONLY Borrower income calculated from 1003 Income required by Borrower ONLY, If there is no other Borrower, no additional income will used for qualification or household income limitation.
  • Veterans do not need to be first time homebuyers.
  • 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 Principal 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 FNMA guidelines.
  • Credit restrictions:
  • Minimum 640 FICO scores credit score to qualify for this program.
  • FHA Version, bankruptcies must be discharged over 2 years, and/or foreclosures, short sales or deed in lieu 3 years, minimum 2 trade lines with no late's in last 12 months, No NSF's in last 12 months.
  • Conventional Version, bankruptcies must be discharged over 4 years, and/or foreclosures, short sales or deed in lieu 7 years, minimum 2 trade lines with no late's in last 12 months, No NSF's in last 12 months.
  • Either FHA or Conventional Versions of program, Borrowers must be employed full time with 2 years continuous (not necessarily with the same company). Income must be supported by: 3 years Federal Tax Returns, W-2's, pay stubs and 2 year history of continuous employment. Gaps in employment can be considered.
  • FHA Version, Mortgage Credit Certificate (MCC) NOT available.
  • Conventional Version, Mortgage Credit Certificate (MCC) ARE available.
  • Refinances: Not permitted.

2019 - 97% LTV First Time Home Buyers with $0 Mortgage Insurance available for most of the State of Florida.

  • 30-Year Amortized, 10/1 Adjustable Rate Mortgage 97% LTV first mortgage loan with low interest rate and No mortgage insurance.
  • Minimum FICO credit score of 600 possible, but not guaranteed. Loan is Manually Underwritten.
  • Extremely low mortgage payments for first 10-years.
  • Able to refinance after initial 10-year term or continue on the adjusted payment schedule for the next 20 years.
  • Last 20 years of loan can adjust every year up 2% and no more than an additional 6% over the course of entire 30 year life of the loan.
  • No upfront or monthly mortgage insurance is required by Borrower.
  • The program is available to First Time Home Buyers only. Must not have owned a home in last 3 years.
  • Finance 97% of the purchase price.
  • Initial 10 year interest rate is very low for low mortgage payments. Rate can be .75% (3/4 point) less than fixed 30 year rate.
  • This program allows for higher borrower income limits of 150% of the HUD Median Income for the county where the property is located.
  • This program can be used in almost all Florida counties, with the EXCEPTIONS of Miami-Dade, Okeechobee and several of the most northern counties, please ask for which counties qualify.
  • Maximum front end debt-to-ratio is 33% and maximum back end debt-to-income ratio is 41%.
  • 1 unit only - Single Family Residence, Townhouses or Condos.
  • NO mortgage insurance for Borrower with this loan program.
  • Seller contribution maximum 3% towards Buyers closing costs.
  • There are no targeted areas for this loan program.
  • Purchase only, no construction to permanent loans - no investment properties.
  • Owner Occupants only, No Non-Owner Occupied Co-Signors allowed. No Investors allowed.
  • 3-years of Federal Tax returns required or acceptable Student Transcripts.
  • Borrower(s) must have a minimum of $1000 in the transaction. 2% Gift funds from family can be used for rest of down payment.
  • HUD approved Buyers Education Classes required.
  • Lender credit of $1000 is given to help with Closing Costs.
  • No cash back at closing.

2019 AFR 580 FICO Advantage FHA Financing 2% Grant program

  • Minimum middle FICO scores 580 FICO or above.
  • Competitively priced fixed rate FHA loan.
  • NO additional Origination point in Closing Costs.
  • NO Wholesale Lender/Sponsor fees in Closing Costs.
  • No first time home buyer requirement.
  • Requires 1.5% down payment from the home buyer for down payment.
  • 2% Grant from Non-Profit + 1.5% Home Buyer Funds equals 3.5% equity with a 96.5% eligible FHA approved loan.
  • First mortgage must meet FHA loan guideline eligibility.
  • Desktop Underwriter Automated Underwriting approval necessary.
  • No additional subordinate financing allowed.
  • FHA loan amounts only.
  • Primary Residences only. No Investment properties. No 2-4 units.
  • Manufactured Housing NOT allowed.
  • No Income limits for anyone involved in the Healthcare administration, Law Enforcement administration, Military Veterans, Firefighters and administration and Municipal School Administration.
  • All other Borrowers subject to 140% of the Hud Median Income for Census Tract
  • Possible Lender credit available.
  • Co-Signers/Non-occupying Co-Borrowers allowed if related by blood, marriage or law and Agency guidelines.
  • Borrower may have a NON-FHA ownership interest in other under certain conditions).
  • Home buyer education not required before Closing.

House 2 Home FHA Grant

Provides up to 4% in down payment assistance in ALL Florida Counties for FHA Loans House 2 Home FHA Income/Mortgage Limits

  • Down Payment Assistance is forgiven at the Closing table.
  • Buyer does not need to be first time Home Buyer.
  • Provides up to 4% in down payment assistance in ALL Florida Counties for FHA Loans. The 4% Grant includes covering 1% of the mandatory 1.5% Lender Origination fee
  • Origination fee 1.75% for FHA and USDA. 1% Maximum Origination fee for VA Loans.
  • No Investment properties, Primary residence only.
  • Traditional frame-block-cement siding-built homes or manufactured homes allowed for Government Agency loans. Government Agency Loans include FHA, VA and USDA Rural Development homes.
  • 1-4 Units allowed, SFR, Duplexes, Triplexes, Quadraplexes.
  • Buyer may own other properties in or outside of Florida. No First Time Home Buyer restrictions apply.
  • Non-Owner Occupant Co-Borrowers ARE allowed.
  • 30-year fixed rate term. No Adjustable Rate Mortgages allowed.
  • Maximum amount to be used with VA Mortgages (4%), FHA Mortgages (4%) and USDA Mortgages (3%)
  • Borrower must qualify for FHA, USDA or VA Loan run through Automated Underwriting Systems.
  • Credit information from approved Tri-Merged Credit Vendors. Alternative credit NOT allowed.
  • Maximum Income Limits set at 140% HUD Area Median Income for FHA, VA or USDA of Florida County the house is located. Conventional HUD Area Median Limits acceptable below 115%
  • Income limit is based off Qualifying income reported on the 1003, regardless of household size. Bonuses, supplemental commissions, Alimony, and Child support payments are optional and are not required providing the base income satisfies the AUS requirements.
  • Maximum loan amount of FHA Loan limits in area purchased. The lesser of $424,100 (not including MI) or maximum loan amounts permitted by HUD/FHA.
  • There are no Acquisition price limits provided the loan amount does not exceed the area FHA/HUD Guidelines for 1st mortgage loan amounts.
  • Home Buyer Education required.
  • Lender credit not available cannot be used to pay for Closing Costs.
  • Minimum middle FICO credit score is 620 for FHA version.
  • Maximum debt-to-income 45%-50% Depending on credit score and compensating factors.
  • No Borrower Prepayment Penalty Fee if loan is paid out early and all payments were made on time prior to pay-off.
  • Seller can contribute up to 6% towards Buyers Closing Costs. Seller cannot contribute to Buyers down payment.
  • No FHA Renovation loans allowed.

Chenoa Fund FHA Mortgage and Grant program

  • Maximum Debt-to-Income back end ratio 50% or less depending on Automated Underwriting Approval or Manual Underwriting Approval of less than 50%.
  • Minimum middle FICO score is 620
  • First Mortgage must be a fixed rate.
  • Second Mortgage Grant for Down Payment Assistance or Closing Cost of 3.5% of purchase price.
  • The Grant will be forgiven after initial 36 months of on time first mortgage payments.
  • Single Family Fee Simple Homes only-No Condo's, No Mobile Homes
  • Combined Loan to Value cannot exceed 105%.
  • Income Limits to Grant program equals 115% of HUD Area Median Income, Non-Occupant Co-Borrower income not included.
  • FHA 203B allowed. FHA 203K Full Renovation loan NOT allowed.
  • Co-Borrowers allowed for qualifying Income and that Co-Borrower income is NOT subject to income limit of less than 115% of HUD Area Median Income restrictions.
  • Primary residences only. No second homes or Investment properties.
  • Maximum Loan Amount compliant with FHA Guidelines.
  • Sponsorship Admin fee of $399 to Cedar Band Corporation Mortgage Agency

2018 Florida Bond FHA Down Payment Assistance Program for All Florida Counties

  • 30-year, fixed-rate first mortgage loans can be used 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 down payment assistance programs.
  • Buyer hasn't owned a property for at least 3 years. May have owned and sold a primary residence prior to 3 years.
  • The down payment assistance loan comes in the form of a $7,500 0% interest 2nd mortgage loan. The down payment assistance can be used for the down payment, Buyers mortgage closing costs, or split pay mortgage insurance premium to lower mortgage insurance cost. This money must be paid back.
  • No Investment or second homes allowed. Must be primary residence only.
  • Middle FICO 8 credit score must be at least 640 for all Borrowers. No exceptions.
  • 1 unit only - Single Family Residence, Townhouses with 95% LTV or below. No Manufactured Homes, no condominiums.
  • Only Applicant income from 1003 used for qualification purposes.
  • Debt to income back end ratio 44.99% or less. No exceptions.
  • Allows up to 6% Seller contribution maximum towards Buyers closing costs.
  • Purchase only No Construction to Perm loans, no refinances.
  • Purchase price limits determined by 115% of HUD county median income limits.
  • Owner Occupants only, must occupy within 60 days.
  • Mandatory 8-hour Buyers Education Class for all Borrowers or any 8 hour HUD approved agency (online or in-person) or approved mortgage insurance education class.
  • Florida e-housing fee's $225 compliance fee + $300 US Bank funding fee + $85 tax service fee calculated subtracted from the $7,500 down payment assistance.
  • No Intangibles tax or property deed stamps on HUD or Closing Disclosure.
  • FHA guidelines apply to this product. This loan program is not a Conventional loan product.
  • No Co-Signers
  • No Lender Credits permitted.
  • This program can be used anywhere in the State of Florida.
  • The FL Assist offers a 30-year, 0% fixed rate, deferred but accelerated upon any of the following - the sale, transfer or other disposition of the property (including involuntary transfer by or because of foreclosure or judicial sale or operation of law), The Florida Assist 2nd mortgage must be repaid when the first mortgage has been paid off.

2019 FHA - (HFA) Housing Finance Authority "Home Sweet Home" Down Payment Assistance program for Hillsborough, Brevard, Duval, and Clay counties and Jacksonville City ONLY

  • 30-year, fixed-rate FHA first mortgage loans originated by trained and approved lenders throughout the State of Florida. The Down Payment Assistance program is offered to all borrowers in Hillsborough, Brevard, Clay and Duval Counties and Jacksonville City Florida who meet income, purchase price and other program guidelines, and can otherwise qualify for an FHA mortgage loan.
  • Maximum Purchase price for per county:
  • Hillsborough County $ 253,809
  • Duval County $199,999
  • Clay County $298,192
  • Maximum Household Income per County
  • Brevard (1-2-person household = $ 61,700) (3+ person household = $70,995)
  • Hillsborough (1-2 person household = $ 59,800) (3+ person household = $ 68,770)
  • Duval (1-2 person households = $ 70,178) (3+ persons $ 80,705)
  • Clay (1-2 person household = $69,176) (3 + persons = $79,552)
  • The down payment assistance comes in the form of a $15,000 - 0% interest, fixed-rate second mortgage Loan for Clay, Brevard and Hillsborough Counties.
  • The down payment assistance comes in the form of a $7,500 - 0% interest, fixed-rate second mortgage Loan for Duval County
  • Only one Florida down payment program can be used by the borrower per transaction.
  • The Down Payment Assistance loan is immediately repaid if the homebuyer sells the home, transfers ownership, satisfies or refinances the first mortgage, or ceases to occupy the home.
  • First Time Homebuyer's or Borrowers or Spouse have not owned a home in the last 3 years..
  • Doc Stamps NO longer exempt on this program.
  • 44.99% Debt to Income or less.
  • Must be First Time Home Buyers or not have owned a home in past 3 years. Must present last 3 years Federal tax returns as proof.
  • Low fixed mortgage interest rates
  • Can purchase new or resale homes
  • Single Family Residences, Townhouses, Villas and Program APPROVED Condos, NO Manufactured homes.
  • Buyers must Occupy within 60 days of Closing.
  • No more than 15% of home to be used in connection for home based business, such as child care, or similar type endeavors.
  • 8 hour Face to Face or online HUD approved Mortgage Counseling course required.
  • 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 Principal 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 FICO scores credit score to qualify for Hillsborough, Brevard, Clay and Duval counties.
  • Bankruptcies discharged over 2 years and/or foreclosures, short sales or deed in lieu 3 years, minimum 2 trade lines with no late's in last 12 months, No NSF's in last 12 months.
  • Co-Signers income allowed in this program under Agency guidelines.
  • Lender credit not available.
  • No Manual underwrites or alternative credit allowed.
  • Borrowers income must be 2 years continuous but not necessarily with the same company. Income must be supported by pay stubs and 2 year history of continuous employment. Gaps in employment can be considered. 2 year overall employment required.
  • Refinances: Not permitted.

Florida Down Payment Assistance Questionnaire

The response to our programs has been overwhelming! For that reason, we are asking people who are seriously considering purchasing a home in the next 1-5 months take the time to fill out the questionnaire below so we can prioritize the people that really want and need our help.



We will NOT pull credit data from the 3 Credit Bureaus nor will we ask for account numbers or social security numbers. That authorization can only come from you after you have filled out an official Mortgage Loan Application from one of our fully licensed Florida Mortgage Lending Partners.



Buyer(s) Full Name(s)

City of Interest

County of Interest

Email Address

Phone Number

Are you trying to purchase a house you currently rent or a "For Sale by Owner" property?

Do you own or rent your current home?

Are you currently working with a Builder on new Construction?

Are you currently working with a Realtor?

Desired Home price range

Maximum Pre-Qualified purchase price (if you have been Pre-Approved in writing by a lender)

When do you anticipate purchasing a home?

Do you now or will you have at least $3500 in a bank account to be used for your professional Home Inspection, Earnest Money Deposit, Appraisal Fee, and Loan Closing Costs?

Discharged Bankruptcy filed in past 2 years -OR- Home Foreclosure / Deed in Lieu Foreclosure / Short Sale in past 3 years?

Is Buyer 1 or Buyer 2 a Teacher or State/County School Employee, Nurse or EMT, Police or Fire Department Employee, or Military Active/Reserve/Veteran?

Occupation

Compensation method

Annual Income BEFORE TAXES, NOT including bonus, commission or overtime UNLESS you have been at the same job with the same company for AT LEAST 2 FULL YEARS

Total MONTHLY FINANCED DEBT that would appear on a standard credit report including: Car payment, MINIMUM PAYMENT for ALL credit cards COMBINED, monthly student loan payment for EACH Borrower, any monthly installment loan such as furniture, jewelry, boat, jet ski, personal installment loans, IRS Tax Lien Payments etc...

Lenders are generally NOT concerned with typical household expenses such as rent, cable TV, Insurance payments, utilities. Please do not include those daily expenses.

FICO Credit Scores: If you dont know your FICO scores, you can get a free report at discover.com/free-credit-score by answering a few questions. While we have no connection with Discover Card, we've found that this program seems to be the least intrusive, most secure and most accurate way of finding out your credit score.

Is there anything else you would like to add that might affect your ability to obtain a mortgage loan?


Thank you for taking the time to complete this form. By doing so, you agree to allow our Agents to discuss your qualifications with one or more of our Mortgage Lending Partners to determine which mortgage program allows you the best available platform to secure financing for your new home. We do not charge any fees for this service. This information is never sold and remains confidential. As soon as we can process this information, we'll get back in touch with you and you can move to the next step in the Home Buying process! Please note, we are not mortgage lenders, but we work with a variety of Licensed Florida Mortgage Lenders who specialize in a wide variety of Florida Down Payment Assistance programs. As your trusted Realtors, we want to make sure your home buying process is as easy as possible.

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