FL Assist Down Payment Program

What Is the FL Assist Program?

The FL Assist program is a down payment assistance option offered through the Florida Housing Finance Corporation (Florida Housing) — the state agency that administers affordable homeownership programs across Florida. FL Assist provides up to $10,000 as a second mortgage on your home, layered underneath your primary purchase loan.

The assistance covers down payment and closing costs, which are two of the biggest upfront barriers for first-time buyers. Because it carries a 0% interest rate and requires no monthly payment, FL Assist does not increase your monthly housing costs at all — you simply owe the balance when you eventually sell or refinance the home.

FL Assist is not a grant. It is a non-forgivable deferred loan, meaning the $10,000 must be repaid at some point — but that repayment is deferred until a future transaction event. For buyers planning to stay in the home long-term, this is often the most affordable form of assistance available in Florida.

Barrett Henry, Broker Associate at REMAX Collective with 23+ years of real estate experience, works with buyers through this process regularly. Call (813) 733-7907 with any questions.

Who Is Eligible for FL Assist?

FL Assist has several eligibility requirements set by Florida Housing. Meeting all of them is required — a Florida Housing-approved lender will verify each one during your application.

First-Time Buyer Requirement

FL Assist is limited to first-time homebuyers, which Florida Housing defines as anyone who has not owned a primary residence in the past three years. If you owned a home more than three years ago and have been renting since, you likely qualify as a first-time buyer under this definition. Veterans are sometimes exempt from this requirement depending on the paired loan program — ask your lender to confirm.

Income Limits

Income limits vary by county and household size. Florida Housing updates these annually. As a general reference, household income limits in Hillsborough, Pinellas, and Pasco counties typically range from approximately $80,000 to $120,000 depending on family size, but you must verify current limits with an approved lender since they change with each program year. See our first-time buyer guide for more on budgeting and income qualification.

Purchase Price Limits

There are also maximum purchase price limits by county. In the Tampa Bay metro, purchase price caps are typically in the $350,000–$450,000 range for existing homes, though these figures shift as Florida Housing adjusts for market conditions. Homes must be used as a primary residence — investment properties and second homes do not qualify.

Homebuyer Education Requirement

All FL Assist borrowers must complete a HUD-approved homebuyer education course before closing. This can typically be completed online through approved providers in about six to eight hours. Your lender will provide a list of approved courses. The certificate you receive is required at closing.

Credit score minimums are set by the paired first mortgage program (FHA, VA, USDA, or conventional) rather than FL Assist itself — typically 640 or above for most Florida Housing loans, though VA and some conventional products may have different thresholds.

How Does the Deferred Second Mortgage Work?

The $10,000 from FL Assist is structured as a subordinate mortgage — a second lien recorded against your property, behind your primary purchase loan. Here is how the mechanics work:

• No monthly payment: You make payments only on your first mortgage. The FL Assist second mortgage has zero monthly payment requirement.
• 0% interest rate: The balance does not grow over time. You owe exactly what you borrowed — $10,000 — regardless of how long you hold the home.
• Deferred repayment: The balance becomes due when you sell the home, transfer title, refinance the first mortgage, or pay off the first mortgage in full.
• Non-forgivable: Unlike some grant programs, FL Assist is not forgiven after a set period. The full amount must be repaid when the trigger event occurs.

In practice, most buyers repay FL Assist from their home sale proceeds years down the road — after they have built equity. At that point, $10,000 is typically a small fraction of the proceeds. Use our mortgage calculator to model your full payment picture including the first mortgage.

What Loan Types Work with FL Assist?

FL Assist is not a standalone program — it must be paired with a Florida Housing first mortgage. The following loan types are compatible:

• FHA loans: The most common pairing. FHA loans allow down payments as low as 3.5% with a 580+ credit score. FL Assist can cover that down payment and associated closing costs. Read the FHA loan guide.
• VA loans: VA loans offer zero down payment to eligible veterans and active-duty service members. FL Assist can cover closing costs when paired with a VA loan. Read the VA home loan guide.
• USDA loans: For buyers in eligible rural and suburban areas, USDA loans also offer zero down payment. FL Assist can supplement closing cost coverage.
• Conventional loans (HFA Preferred and HFA Advantage): Florida Housing offers conventional products with reduced mortgage insurance that can pair with FL Assist. These typically require a slightly higher credit score but have lower mortgage insurance costs than FHA.

Your loan type affects your interest rate, mortgage insurance requirements, and credit score minimums — but FL Assist functions the same way regardless of which first mortgage you use. The right loan type depends on your credit profile, service history, and property location.

How Do You Apply for FL Assist?

You cannot apply directly to Florida Housing. All FL Assist applications flow through Florida Housing-approved participating lenders. Here is the step-by-step process:

1. Find an approved lender. Florida Housing maintains a searchable list of participating lenders on their website. Many local banks, credit unions, and mortgage brokers in the Tampa Bay area are approved. Not all lenders offer FL Assist, so confirm before starting an application.
2. Get pre-approved. The lender will review your income, credit score, debts, and assets to determine eligibility for both the first mortgage and FL Assist. Get this done before you shop for a home — it clarifies your actual budget and shows sellers you are a serious buyer.
3. Complete the homebuyer education course. Finish your HUD-approved course and obtain your completion certificate. Many buyers do this concurrently with the pre-approval process to save time.
4. Find a home within program limits. Work with your REALTOR to identify homes within the purchase price cap for your county. Confirm the property type qualifies (single-family, townhome, or condo approved by Florida Housing).
5. Lender processes both loans. Your lender handles the first mortgage and FL Assist second mortgage simultaneously. Both are processed, underwritten, and closed together — you sign documents for both at the closing table.
6. Close and receive your keys. The $10,000 FL Assist funds flow directly through the closing to cover your down payment and/or closing costs. You do not receive a check — it is applied at closing.

The timeline from pre-approval to closing typically runs 30–60 days. Working with a REALTOR who knows Florida Housing programs helps keep the process smooth. Contact Barrett Henry to get connected with approved lenders and start the process.

FL Assist vs. Hometown Heroes — Which Should You Choose?

Both programs come from Florida Housing, but they serve different buyer profiles. Here is a direct comparison:

If you work in a qualifying Hometown Heroes profession, that program’s higher benefit amount ($35,000 vs. $10,000) makes it worth pursuing first. If you do not qualify for Hometown Heroes, FL Assist is the next strongest option. Read the full Hometown Heroes guide to compare in detail.

Can You Stack FL Assist with Other Programs?

In some cases, yes. Florida Housing allows FL Assist to be paired with other assistance sources, subject to layering rules. Common stacking scenarios include:

• Local down payment assistance programs: Several Tampa Bay counties and municipalities offer their own DPA grants or soft seconds. Hillsborough County, the City of Tampa, and others run programs that may layer with FL Assist. These are subject to availability and separate income/purchase price limits.
• Employer assistance programs: Some employers offer homebuyer assistance as a benefit. These may be combinable depending on the source and structure.
• Seller concessions: Sellers can contribute toward closing costs (within loan program limits), which can work alongside FL Assist.

What you cannot do is stack FL Assist with Florida Hometown Heroes — both are Florida Housing second mortgages and cannot be combined. Your lender will confirm what is permissible given your specific loan type and the programs you are considering.