Down Payment Assistance Florida 2026 | Programs That Help Tampa Bay Buyers Close the Gap
Thousands of Tampa Bay buyers have closed on homes using Florida’s DPA programs — and many did it with far less out-of-pocket cash than they thought possible. Barrett Henry at RE/MAX Collective helps first-time buyers identify the right programs, connect with approved lenders, and structure offers that work with assistance funds.
Call (813) 733-7907 — Free DPA Buyer ConsultationDown payment assistance programs in Florida have helped thousands of Tampa Bay buyers close the gap between their savings and the purchase price of a home. The Florida Housing Finance Corporation (Florida Housing) administers the state’s primary DPA programs, which are available to income-qualified first-time buyers and some repeat buyers in targeted census tracts.
The flagship Florida Assist program provides up to $10,000 as a 0% interest, non-amortizing deferred second mortgage — meaning no payments are required until you sell, refinance, or pay off the first mortgage. The Florida Homeownership Loan Program (FL HLP) offers $10,000 at 3% interest with a 15-year amortizing term, adding approximately $69/month to your payment in exchange for more structured equity build-up. County-level programs in Hillsborough and Pinellas add additional layers of assistance for buyers in those markets, sometimes stacked on top of state programs.
Critically, DPA funds must be paired with a Florida Housing first mortgage through an approved lender. You cannot use these programs with just any lender — only Florida Housing-approved originators can process these transactions. Income limits, purchase price limits, and property type restrictions apply to all programs. These programs are in high demand and funds can be exhausted at the county level — buyers should get pre-qualified and move quickly once approved.
For Tampa Bay buyers, the practical impact of DPA programs is significant. A buyer using Florida Assist ($10,000 deferred DPA) combined with FHA financing on a $350,000 home needs roughly $2,250 in down payment from their own funds — the $10,000 from Florida Assist covers nearly the entire 3.5% FHA minimum down payment of $12,250. Add seller concessions of 3–5% for closing costs, and some buyers close with less than $3,000 out of pocket. Barrett Henry at RE/MAX Collective helps buyers understand which programs they qualify for and structures purchase offers that make effective use of available assistance.
Florida Housing Finance Corporation Programs Overview
Florida Housing Finance Corporation is the state agency that oversees affordable housing programs, including down payment assistance. Their DPA products are second mortgage loans designed to be used alongside their first mortgage products — the HFA Preferred (conventional) and HFA Preferred 3% Plus. Florida Housing’s programs are available statewide and are accessed only through approved participating lenders — there are dozens of approved lenders in the Tampa Bay area, including banks, credit unions, and mortgage companies. Florida Housing periodically updates income limits, purchase price limits, and available funds. Buyers must complete a HUD-approved homebuyer education course before closing on a Florida Housing loan. The course can be completed online and typically takes 6–8 hours. Income eligibility is calculated on gross annual household income for all adults who will reside in the home.
Florida Assist: 0% Deferred DPA Explained
The Florida Assist second mortgage is the most popular DPA product in the Florida Housing portfolio. Key terms: up to $10,000, 0% interest rate, no monthly payment, full balance due on sale, refinance, transfer of title, or payoff of the first mortgage. There is no forgiveness component — unlike grant-based programs, Florida Assist must be repaid. However, the deferred structure means your monthly payment is based only on your first mortgage, and the $10,000 is effectively free capital until the triggering event. On a $350,000 FHA purchase, $10,000 from Florida Assist covers nearly the entire 3.5% minimum down payment ($12,250). The remaining $2,250 must come from the buyer’s own funds or a gift. Florida Assist is available on FHA, VA, USDA, and Fannie Mae conventional HFA Preferred loans. Eligibility requires meeting income limits (which vary by county and household size) and using an approved Florida Housing lender.
Hillsborough County DPA Programs
Hillsborough County administers its own down payment assistance program for buyers purchasing within unincorporated Hillsborough County (the program may not apply to properties within Tampa, Plant City, or Temple Terrace city limits — confirm with your lender). The Hillsborough County DPA program provides up to $14,950 in assistance, structured as a deferred second mortgage with no monthly payment required. To qualify, buyers must meet income limits based on the Area Median Income (AMI), typically at 80% AMI or below for the household size. The property must be a single-family home, townhome, or condo and serve as the buyer’s primary residence. Buyers must complete a homebuyer education course. Hillsborough’s program can be layered on top of Florida Housing’s Florida Assist for buyers who qualify for both — in that scenario, a buyer could access up to $24,950 in deferred, 0% second mortgage assistance. This combination is particularly powerful for buyers in entry-level price ranges in communities like Brandon, Valrico, Riverview, and Wimauma.
Pinellas County Home Key Program
Pinellas County offers the Home Key Plus Second Mortgage program for buyers purchasing within Pinellas County. The program provides second mortgage assistance at below-market interest rates for qualifying buyers. Pinellas’s program has historically been more restrictive on income limits and geographic coverage than Hillsborough’s, but it remains a valuable resource for St. Petersburg, Clearwater, Largo, and other Pinellas County buyers who meet the criteria. Income limits are set at 80% AMI for most programs. Properties must be within Pinellas County and serve as primary residences. Homebuyer education is required. Pinellas’s program can typically be stacked with Florida Housing’s Florida Assist for additional assistance. For buyers purchasing in the City of St. Petersburg, additional city-level programs may be available — the City of St. Pete has periodically offered its own DPA grants for low-to-moderate income buyers, particularly in targeted revitalization areas. Confirm current program availability and funding status with your lender or the county housing office, as funds can be exhausted.
Salute Our Soldiers Military Loan Program
The Salute Our Soldiers Military Loan Program is Florida Housing’s dedicated program for active duty military members, veterans, and their surviving spouses purchasing anywhere in Florida. The program provides a below-market-rate first mortgage combined with DPA options, including the Florida Assist second mortgage. Salute Our Soldiers is designed to work alongside VA loans — meaning a VA buyer using this program can get a VA first mortgage at a preferred rate through a Florida Housing-approved lender plus up to $10,000 in deferred DPA for closing costs or prepaids. For a VA buyer who is already using zero-down financing, the DPA funds can cover the funding fee (if not rolled into the loan), closing costs, and prepaid items — bringing the total cash needed to close to near zero in some transactions. Active duty personnel, veterans (any discharge other than dishonorable), and unremarried surviving spouses are eligible. The program is particularly relevant in Tampa Bay given the MacDill AFB community and the region’s large veteran population.
How to Apply: Income Limits, Lenders, and Timing
The Florida DPA application process starts with finding a Florida Housing-approved lender — not all mortgage lenders are approved. The Florida Housing website maintains a searchable list of approved lenders by county. Once you connect with an approved lender, they will run a pre-qualification that assesses your credit, income, and household size against the applicable program’s income limits. Income limits for 2026 in the Tampa Bay area vary: for Florida Assist, a household of 1–2 people in Hillsborough County may be limited to approximately $97,560–$112,320 in gross annual income (verify current limits with your lender, as these are updated annually). Purchase price limits apply — most Florida Housing programs cap the purchase price at $390,000 to $450,000 depending on the specific program and loan type; confirm the exact limit for your target county and program. After pre-qualification, you complete the homebuyer education course and then proceed with your home search and offer process. Timeline from pre-qualification to closing is typically 45–60 days, factoring in the DPA approval process. Funds at the county level can be depleted — move quickly once you are pre-qualified and ready to buy.
- Not all lenders are Florida Housing-approved — start by finding an approved lender through Florida Housing’s website or ask Barrett Henry for referrals to experienced DPA lenders in Tampa Bay.
- County-level DPA funds (Hillsborough, Pinellas) can be exhausted during peak buying seasons — get pre-qualified and move as soon as you’re ready rather than waiting months.
- Income limits are based on gross household income for all adult residents, not just the buyer — a co-habitant’s income may affect eligibility even if they are not on the loan.
- Complete the required HUD-approved homebuyer education course before you need it — don’t wait until you’re under contract, as the course takes 6–8 hours and must be completed before closing.
- Florida Assist is a deferred loan, not a grant — it must be repaid when you sell or refinance, so factor that into your equity planning if you’re purchasing in a rising market and plan to sell in 3–5 years.
- Stacking programs (state plus county) can dramatically reduce your cash to close — ask your lender specifically about combining Florida Assist with any available county-level programs for maximum benefit.
- Purchase price limits cap what you can buy — if your target home is above the program limit, you may need to choose between the DPA benefit and the home you want, or make up the difference in cash.
- The Salute Our Soldiers program is frequently overlooked by military buyers focused only on VA loans — the DPA component can make a zero-down VA purchase truly zero-cost at closing.
Income limits vary by program, county, and household size. For the Florida Assist program in Hillsborough County, a 1–2 person household may be limited to approximately $97,560–$112,320 in gross annual income for 2026, while larger households have higher limits. Pinellas and Pasco limits differ slightly. County-level programs (Hillsborough DPA, Pinellas Home Key) use 80% AMI as the general threshold. Always confirm current limits with an approved Florida Housing lender, as limits are updated annually and can change mid-year.
Most Florida Housing programs require the buyer to be a first-time homebuyer — defined as someone who has not owned a primary residence in the past 3 years. However, there are exceptions: veterans using the Salute Our Soldiers program are exempt from the first-time buyer requirement in many cases, and buyers purchasing in federally designated targeted areas may also qualify regardless of prior homeownership. Ask your approved lender to check whether your situation qualifies under any exception.
Florida Assist is repaid in full when you sell the home, refinance the first mortgage, transfer title, or pay off the underlying first mortgage. There is no monthly payment and no interest accrual. If you sell after 5 years of appreciation, you repay the $10,000 from your sale proceeds. If you refinance, the Florida Assist balance is paid off with the new loan proceeds or must be subordinated (with Florida Housing’s approval) behind the new first mortgage — subordination is sometimes available but not guaranteed.
Yes. The Salute Our Soldiers Military Loan Program is specifically designed to pair DPA with VA financing. VA buyers can receive up to $10,000 in Florida Assist deferred funds for closing costs, prepaid items, or the VA funding fee. Since VA loans require zero down payment, the DPA functions as closing cost assistance rather than down payment assistance in most VA transactions. This combination can result in a VA purchase with near-zero out-of-pocket costs at closing.
Purchase price limits for Florida Housing programs depend on the specific loan product and county. For 2026, limits typically range from $390,000 to $450,000 for FHA and conventional programs in the Tampa Bay area. VA and USDA programs may have different caps. Confirm the exact purchase price limit for your target county and program with your approved lender before beginning your home search — homes priced above the limit are not eligible regardless of your income qualification.
The pre-qualification process with a Florida Housing-approved lender can be completed in 1–3 business days once you provide all required documentation. The full DPA approval — including the second mortgage documentation — runs concurrently with the first mortgage underwriting process and typically adds no extra time to a standard 30–45 day closing timeline. The homebuyer education certificate, required before closing, should be completed early to avoid any delay.
Yes. The City of Tampa has periodically offered the Tampa Mortgage Assistance Program (TMAP) for buyers purchasing within Tampa city limits. The City of St. Petersburg has offered DPA grants in targeted neighborhoods as part of redevelopment initiatives. These city-level programs are separate from county and state programs, and their availability depends on annual budget allocations — they are often the first to exhaust funding. Contact the City of Tampa Housing and Community Development Department or St. Pete’s Housing Assistance Division directly to inquire about current availability.
DPA itself does not weaken your negotiating position — it is a financing tool the seller is generally unaware of at the offer stage. However, if you are using DPA with an FHA first mortgage, some sellers may perceive FHA offers as less competitive than conventional offers. Your agent’s ability to present your offer effectively — emphasizing pre-approval strength, lender credibility, and flexible terms — matters more than the DPA component. In a buyer’s market or with motivated sellers, DPA-backed FHA offers routinely win.
If the appraisal comes in below contract price, the DPA amount does not automatically adjust. Your options are the same as with any low appraisal: negotiate the purchase price down to the appraised value, pay the difference in cash between the appraised value and the contract price (called an appraisal gap), or walk away if you have an appraisal contingency. FHA loans include an appraisal contingency by default. If you renegotiate the price down, the DPA amount stays the same — it simply covers a larger share of your reduced down payment or closing costs.
Yes, with conditions. FHA-backed DPA loans require the condo to be on HUD’s approved condo list. Conventional HFA Preferred loans have their own condo eligibility rules. Fee-simple townhomes (not in a condo association) are treated as single-family homes and have no project approval requirement. If you’re targeting a condo community, verify FHA or conventional project approval before falling in love with a unit — unapproved projects cannot close with Florida Housing first mortgage products.
Find Out If You Qualify for Down Payment Assistance in Tampa Bay
Barrett Henry at RE/MAX Collective works with first-time buyers, military buyers, and income-qualified households across Hillsborough, Pinellas, Pasco, and Manatee counties. Get help identifying the right DPA programs, connecting with approved lenders, and making competitive offers that maximize your assistance dollars.
FHA Loan Florida Guide | VA Loan Guide | First-Time Buyer Guide
Call (813) 733-7907