- Reduces down payment and/or closing costs for eligible buyers
- 2%, 3.5%, and in some cases 5% of the total loan amount (up to $25,000) is available
- Programs include grants, deferred 2nd mortgages, and repayable 2nd mortgages
- Not all programs require the borrower to be a first-time buyer
Learn About the Best Available Florida DPA Programs
Highlights
What is Florida Hometown Heroes?
The Florida Hometown Heroes housing program is an initiative by the Florida Housing Finance Corporation to make homeownership more affordable for eligible front-line workers such as law enforcement officers, nurses, school teachers, and firefighters. To achieve this goal, down payment and closing cost assistance are available to first-time, qualified homebuyers in eligible occupations. Highlights include:
- Up to 5% of the loan amount (capped at $25,000)
- 0% interest, non-amortizing, 30-year, deferred 2nd mortgage
- Minimum credit score: 640 FICO
- Maximum DIT: 50%
Learn more about the Florida Hometown Heroes housing program.
Who Qualifies for Down Payment Assistance in Florida?
While first-time homebuyers may benefit from down payment assistance programs, eligible borrowers do not need to be first-time buyers. FHA, VA, and USDA loans can be used alongside Federal grants, deferred second mortgages, and other forgivable loans between 2-3.5% of the purchase price. Some of these programs are contingent on making a specific number of on-time payments, while others are paid off over a period of time. Various factors including credit score, loan-to-value, income, and property type can affect rates and loan terms.
The Loan Process
How to get started:
- Verify your eligibility to qualify for financing.
- Receive options based on your unique criteria and scenario.
- Compare mortgage interest rates and terms from our lender network.
- Choose the offer that best fits your needs.