3 'Too Good to Be True' 😱Florida Homebuyer Grants

1. Florida Assist Program (FL Assist)

The Details

  • Provides up to $10,000 in down payment and closing cost assistance.

  • Offered as a second mortgage with 0% interest and no monthly payments.

  • Repayment deferred until the home is sold, refinanced, or transferred.

  • Available for use with FHA, VA, USDA, and conventional loans.

  • Ideal for buyers needing significant upfront cost assistance without monthly financial pressure.

Why you'll love it:

  • No interest and no monthly payments give you breathing room while purchasing your home.

  • Deferred payment structure means you don’t need to worry about repayment until you sell or refinance.

  • Covers both down payments and closing costs, two of the largest hurdles for homebuyers.

  • Can be stacked with other assistance programs to maximize your benefits.

  • Great for low to moderate-income buyers and those with good credit (600-700).

2. Florida Homeownership Loan Program (FL HLP)

The Details

  • Offers $10,000 for down payment and closing cost assistance as a second mortgage.

  • Fixed 3% interest rate with monthly payments over a 15-year term.

  • Available statewide for first-time homebuyers.

  • Must be repaid upon sale, transfer, or refinance of the property.

  • Requires homebuyer education for qualification.

Why you'll love it:

  • Helps cover down payment and closing costs.

  • Offers reasonable interest rates and manageable monthly payments.

  • Can be stacked with other assistance programs for even more savings.

  • Flexible enough for buyers with moderate credit scores (600-700).

  • A solid option for buyers looking for an accessible way to cover upfront costs.

3. Florida Hometown Heroes Loan Program

The Details

  • Offers down payment and closing cost assistance equal to 5% of the loan amount, with a max of $35,000.

  • Assistance provided as a forgivable loan, with no repayment required after a certain time period.

  • Designed for frontline community workers, including police, EMTs, teachers, and healthcare workers.

  • Must be used with an FHA, VA, USDA, or conventional first mortgage.

  • Available for first-time homebuyers and those who meet income and credit qualifications.

Why you'll love it:

  • Forgivable loan: if you stay in your home for the designated time, the assistance doesn’t need to be repaid.

  • Tailored to those in essential community roles, providing an extra incentive for your hard work.

  • Significant financial assistance that can make homeownership more attainable.

  • Available with reduced upfront fees and no origination or discount points, lowering the total cost of your loan.

  • Flexible on income and credit requirements, allowing for moderate-income and credit buyers to qualify.