First-Time Homebuyer Programs in Tampa Bay — 2026 Guide
By Barrett Henry, REALTOR® & Broker Associate at REMAX Collective
First-time homebuyers in Tampa Bay have access to multiple assistance programs that can significantly reduce upfront costs. If you have not owned a primary residence in the past three years, you likely qualify for at least one — and possibly several — of these programs.
What Programs Are Available for First-Time Buyers in Tampa Bay?
The Florida Housing Finance Corporation administers the major statewide programs, while individual counties offer their own assistance. The most popular options include Florida Hometown Heroes (up to 5% of the loan amount as a forgivable second mortgage), FL Assist ($10,000 deferred-payment second mortgage), HFA Preferred PLUS (up to 5% for down payment and closing costs), and county-specific programs in Hillsborough, Pinellas, Pasco, Polk, and other Tampa Bay counties.
What Counts as a First-Time Buyer in Florida?
According to Florida Housing, a first-time homebuyer is someone who has not had an ownership interest in a primary residence during the past three years. This means former homeowners who have been renting qualify again after three years. Veterans and buyers purchasing in federally designated target areas may be exempt from the first-time buyer requirement on certain programs. For a step-by-step guide covering the entire first-time buying process, see the First-Time Home Buyer Tampa Bay resource.
What Are the Income Limits?
Income limits vary by program and county. Florida Hometown Heroes caps household income at the county area median income (AMI). FL Assist and HFA Preferred PLUS have their own thresholds, which are published annually by Florida Housing. In 2026, many Tampa Bay families earning up to $100,000+ per household still qualify depending on their county.
Do You Need Perfect Credit?
No. Most Florida DPA programs require a minimum credit score of 640, and some accept scores as low as 620. FHA loans, which are commonly used with DPA, are available with credit scores starting at 580 with a higher down payment. Read our full guide on credit score requirements for DPA for details.
How to Get Started as a First-Time Buyer
The process starts with connecting to a DPA-approved lender. Barrett Henry, REALTOR® with REMAX Collective, can match you with participating lenders and explain which programs fit your financial situation — all at no cost. With 23+ years of real estate experience, Barrett has guided hundreds of buyers through the Tampa Bay market.
Contact Barrett at (813) 733-7907 to find out which programs you qualify for.
Find Out Which DPA Programs You Qualify For
Barrett Henry offers free, no-obligation guidance on every down payment assistance program available in Tampa Bay.
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Barrett Henry provides free, no-obligation guidance on every down payment assistance program in Tampa Bay. No credit pull required.
100% confidential · Response within 2 hours · 23+ years experience · REMAX Collective
Barrett Henry
REALTOR® & Broker Associate at REMAX Collective
Barrett Henry has 23+ years of real estate experience and specializes in helping Tampa Bay homebuyers find and use down payment assistance programs. REMAX Hall of Fame 2024 recipient.
(813) 733-7907Free Housing Resources
- HUD Counseling: 1-800-569-4287 — Free housing counseling referrals
- FHA Resource Center: 1-800-225-5342 — FHA loan questions
- HOPE Hotline: 1-888-995-4673 — Foreclosure prevention help
Related Guides
Florida's SHIP Program Explained — What Tampa Bay Buyers Need to Know in 2026
The State Housing Initiatives Partnership (SHIP) program funds local down payment assistance across all 67 Florida counties. Learn how much SHIP offers in Hillsborough, Pinellas, and Pasco, and how to stack it with Hometown Heroes.
Florida Purchase Price Limits for Down Payment Assistance — 2026 County Guide
Florida Housing sets annual purchase price limits that cap the home value eligible for DPA. Learn the 2026 limits for Tampa Bay counties, how targeted areas raise the cap, and what to do if the home exceeds it.
Florida Hometown Heroes Bond vs. TBA — Which Program Version Gets You the Best Deal?
The Florida Hometown Heroes program has two versions — Bond and TBA — that count income differently, accept different loan types, and carry different rates. Learn which one is right for you.
Home Key Plus Second Mortgage — New DPA for Pinellas, Pasco & Polk County Buyers
Florida's new Home Key Plus program launched in May 2026, offering up to $10,000 in Pinellas County and $7,500 in Pasco and Polk counties as a 0% deferred second mortgage for buyers in targeted census tracts.
What Is Down Payment Assistance and How Does It Work?
Down payment assistance (DPA) programs help homebuyers cover their down payment through grants, forgivable loans, or deferred-payment second mortgages. Learn how DPA works in Florida.
How Much Down Payment Do You Actually Need to Buy a Home in Tampa Bay?
You may not need 20% down to buy a home in Tampa Bay. FHA loans require 3.5%, and DPA programs can cover most or all of it. Here is what you really need.
This article is for informational purposes only and does not constitute financial or legal advice. DPA program details, income limits, and eligibility requirements change frequently. Contact a DPA-approved lender for current program terms. Barrett Henry is a licensed REALTOR® and Broker Associate with REMAX Collective. Equal Housing Opportunity.