Assistance
Florida down payment assistance
Assistance is worth understanding properly, because the word covers four quite different things — and only one of them is money you simply keep.
The four structures
Why "free money" is the wrong way to think about it
The structure determines what happens when you sell or refinance, and it matters far more than the headline amount.
Grant — not repaid
Funds you do not repay, provided you meet the program's conditions. Genuine grants are the least common form of assistance.
Forgivable second mortgage — forgiven over time on conditions
A second mortgage that is forgiven over a set period, usually as long as the home remains your primary residence. Sell or refinance early and some or all of it may become repayable.
Deferred second mortgage — repaid on sale, refinance or payoff
A second mortgage with no monthly payment, repaid in full when you sell, refinance or pay off the first mortgage. It reduces your cash at closing; it does not reduce what you eventually owe.
Amortizing second mortgage — repaid monthly
A second mortgage you repay monthly alongside your first. It helps with cash at closing and adds to your monthly housing cost, which also affects qualifying.
Two further points are worth making plainly. A second mortgage with no monthly payment still has to be repaid eventually, so it reduces the cash you need at closing rather than the amount you owe. And a brokerage does not administer public funds: we can tell you which programs a lender we work with participates in, but eligibility and availability are decided by the program administrator, not by us.
Program records
Where to check current programs
Each record points at the administrator that actually runs the program. Terms, income limits and funding status are set there and change without notice, so the official source is always the one to check.
Florida Hometown Heroes Housing Program
- Administrator
- Florida Housing Finance Corporation
- Jurisdiction
- Statewide (Florida)
- Structure
- Deferred second mortgage — repaid on sale, refinance or payoff
- Official source
- Administrator’s program page (opens in a new tab)
Availability must be confirmed with the program administrator or participating lender.
Florida Housing homebuyer programs
- Administrator
- Florida Housing Finance Corporation
- Jurisdiction
- Statewide (Florida)
- Structure
- Structure not yet verified
- Official source
- Administrator’s program page (opens in a new tab)
Availability must be confirmed with the program administrator or participating lender.
County and municipal assistance programs
- Administrator
- Individual county and city housing offices
- Jurisdiction
- Varies by county and municipality
- Structure
- Structure not yet verified
- Official source
- Not yet recorded — varies by county and city
Availability must be confirmed with the program administrator or participating lender.
Where to check for yourself
Program rules are set by these organizations and are updated periodically. Where this page and an official source disagree, the official source is correct.
- Florida Housing Finance Corporation (opens in a new tab) — Florida Housing Finance Corporation
- Homebuyer program overview (opens in a new tab) — Florida Housing Finance Corporation
- Find a HUD-approved housing counselor (opens in a new tab) — Consumer Financial Protection Bureau
A HUD-approved housing counsellor can explain assistance options independently of any lender, usually free of charge. If you are early in the process, that is often the most useful call you can make.