downpayment assistance

Down Payment Assistance Programs

Hardest-Hit Fund Down Payment Assistance (HHF-DPA) Program

Provides qualified first-time homebuyers with up to $15,000 in down payment and closing costs assistance. The program is available for prospective first-time homebuyers wanting to purchase homes located in the following counties, only:

  • Clay
  • Duval
  • Hillsborough
  • Osceola
  • Pasco

Florida Housing also offers down payment and closing cost assistance in the form of a second mortgage loan to assist eligible homebuyers with their down payment and closing costs. Down payment assistance is only available when used in conjunction with Florida Housing's first mortgage loan.

Down payment assistance is NOT available as "stand alone" down payment assistance. It is only available when used in conjunction with one of Florida Housing’s Homebuyer Programs.

The Florida Assist (FL Assist)

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL Assist Second Mortgage Program. The FL Assist offers the following:

  • Up to $7,500.
  • 0%, deferred second mortgage.

The FL Assist is not forgivable. Repayment is deferred, except in the event of the sale, transfer, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor ceases to occupy the property at which time, the Florida Assist will become payable in full.

3% and 4% HFA Preferred Grants

Borrowers utilizing these down payment and closing cost programs receive 3% or 4% of the purchase price of the home being purchased in the form of a non-repayable grant.

The Florida Homeownership Loan Program (FL HLP) Second Mortgage

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL HLP Second Mortgage Program. The FL HLP offers the following:

  • Up to $10,000.
  • 3% fully-amortizing, second mortgage.
  • 15-year term.

The FL HLP Second Mortgage carries a monthly payment. The remaining unpaid principal balance (UPB) is deferred, except in the event of the sale, transfer of deed, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor(s) ceases to occupy the property as his/her primary residence at which time, the FL HLP Second Mortgage will become payable, in full.

Since the FL HLP Second Mortgage carries a monthly payment, this payment may need to be considered in a borrower’s debt-to-income (DTI) ratio when credit underwriting.

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Frederick Schmitz - American Nationwide Mortgage Company

Direct: (904) 657-8099
Toll Free: (877) 219-4MTG
100 SR-13, Suite D
Saint Johns, FL 32259-2841

NMLS #1428390/1626703
Licensed: Georgia & Florida