FL Assist vs. Hometown Heroes — Which DPA Program Is Better?

FL Assist and Florida Hometown Heroes are the two most popular statewide down payment assistance programs, but they work differently. Understanding the differences helps you choose the right fit — or in some cases, determine if you can use both.

FL Assist at a Glance

FL Assist provides $10,000 as a deferred-payment second mortgage. There are no monthly payments on the assistance. The loan is due when you sell, refinance, or transfer the property. It is available to first-time homebuyers who meet Florida Housing income limits and credit requirements.

Hometown Heroes at a Glance

Hometown Heroes offers up to 5% of your first mortgage amount as a 0% interest second mortgage. The assistance is forgivable after a qualifying period if you remain in the home. You must be employed full-time by a Florida employer and meet the county area median income limits.

Key Differences

The biggest difference is the amount. On a $350,000 purchase, Hometown Heroes provides up to $17,500 compared to FL Assist's fixed $10,000. However, FL Assist has broader income limits in some counties, making it accessible to buyers who earn slightly too much for Hometown Heroes.

Another difference is forgiveness. Hometown Heroes assistance can be forgiven over time, effectively becoming a grant. FL Assist must always be repaid (though not until you sell or refinance). For buyers planning to stay long-term, Hometown Heroes may offer a better deal.

Can You Use Both Programs?

No. Both programs are administered by Florida Housing and you must choose one. However, you can potentially combine either program with county-specific DPA for additional assistance. An approved lender can run the numbers for both options to show you which saves more money.

Which Should You Choose?

Choose Hometown Heroes if you meet the income limits and plan to stay in the home long enough for the loan to be forgiven. Choose FL Assist if you need a simpler process or if your income exceeds Hometown Heroes limits but still falls within FL Assist thresholds.

Barrett Henry, REALTOR® with REMAX Collective, can walk you through both options and connect you with an approved lender. With 23+ years of real estate experience, Barrett has helped countless Tampa Bay buyers find the right assistance program. Call (813) 733-7907 for free guidance.