Florida Down Payment Assistance: Complete State Guide 2026

Florida's housing market is one of the most competitive and expensive in the nation — but it also has one of the more comprehensive systems of down payment assistance (DPA) for first-time and low-to-moderate-income buyers. State programs, county SHIP allocations, and city-level gap financing can dramatically reduce what you need to bring to closing. Here's every major program available in 2026.

Florida Housing Finance Corporation: The State Hub

The Florida Housing Finance Corporation (Florida Housing) administers the state's primary DPA infrastructure. All programs pair with a Florida Housing first mortgage.

Florida First Homebuyer Loan Program

A 30-year fixed rate mortgage (FHA, VA, USDA, or conventional) at a below-market rate set monthly by Florida Housing. Eligibility:

• First-time homebuyer (or not owned in 3 years); veterans exempt from this requirement
• Income and purchase price limits vary by county (see table below)
• Credit score minimum: 640 (FHA/USDA/VA); 660 (conventional)

Florida Assist DPA

A second mortgage at 0% interest for $10,000 — deferred, due on sale, refinance, or payoff of first mortgage. No monthly payment. Available paired with Florida First loan.

Florida HLP (Homebuyer Loan Program) DPA

A second mortgage of 3% of the first loan amount at 0% interest. Also deferred. Example: $400,000 loan × 3% = $12,000 DPA.

Salute Our Soldiers Military Loan Program

Specifically for veterans, active duty, and surviving spouses:

• Below-market 30-year fixed (FHA, VA, or conventional)
• Up to $10,000 DPA in second mortgage at 0% interest
• Does NOT require first-time homebuyer status

2026 Florida Housing Income Limits (selected counties)

SHIP: The County-Level DPA Layer

Florida's State Housing Initiatives Partnership (SHIP) distributes state housing funds to all 67 counties, which administer their own DPA programs with local rules. Key features:

• Deferred second mortgage (no monthly payment)
• Typically $5,000–$20,000 in assistance depending on county funding cycle
• Income limits generally at 80–120% of Area Median Income
• Often stackable with Florida Housing first mortgage programs

Contact your county's Community Development or Housing Services office to ask about current SHIP availability — funding cycles deplete and replenish annually.

City-Level DPA Programs (Selected)

City of Miami: HomeOwnership Program — gap financing for buyers in Miami city limits.

City of Jacksonville: Consolidated Loan Program — DPA for Jacksonville proper buyers.

City of Tampa: periodic local DPA programs for Tampa city limit purchases.

City of Orlando: Down Payment Assistance Program — city funds for income-qualifying buyers.

City of St. Petersburg: Homebuyer Assistance Program — for St. Pete city limit purchases.

City of Tallahassee: City-administered SHIP supplement for Tallahassee buyers.

Availability and funding amounts change year to year. Always verify current status with the city housing office before planning around these programs.

Fannie Mae & Freddie Mac Programs in Florida

HomeReady (Fannie Mae) and Home Possible (Freddie Mac): 3% down conventional loans with reduced mortgage insurance for buyers at or below 80% Area Median Income. Can be paired with SHIP or Florida Housing DPA as a second lien.

Community Seconds: Fannie/Freddie allow subordinate financing (SHIP, city DPA) to be used as the down payment source — no requirement to come up with the 3% from personal funds if DPA covers it.

How to Stack Programs for Maximum Benefit

Maximum assistance scenario (Orange County, first-time buyer, $370,000 purchase):

1. Florida Housing FHA first mortgage (below-market rate)
2. Florida HLP DPA: 3% of loan = ~$10,692 (0% interest, deferred)
3. Orange County SHIP DPA: $10,000–$15,000 (deferred, subject to availability)
4. Seller concession: 3–6% of purchase = $11,100–$22,200 toward closing costs

Result: potentially $30,000–$40,000 in assistance from DPA + seller concession, with as little as $2,000–$5,000 out of pocket at closing.

Common DPA Misconceptions

"DPA is a grant — I don't have to pay it back." Sometimes true (Florida Assist is deferred until you sell/refi, not forgiven outright in most cases). Some programs do convert to forgiven grants after 5 years — read the terms of each program carefully.

"I make too much to qualify." Florida county income limits vary significantly. A household earning $95,000 in Collier County may qualify; the same income in Marion County would not. Always verify current limits.

"DPA means a higher rate." Florida Housing rates are set monthly and typically within 0.25–0.375% of market. The DPA value typically far outweighs any modest rate differential.

FAQ

Can I use DPA with a VA loan? Yes — Florida Housing's Salute Our Soldiers program pairs DPA with VA. Some county SHIP programs also allow VA pairing. Verify program specifics.

Can I combine Florida Housing DPA with a USDA loan? Yes in many cases — Florida First program is available with USDA. Verify that the property is in a USDA-eligible area.

How long does DPA take to arrange? Working with a lender who is an approved Florida Housing lender streamlines the process. Add 5–10 business days to standard timelines for DPA documentation.

Let's Find Your DPA Stack

📞 970-708-9624 | tj@taytoncapitalllc.com

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