Can You Stack Hometown Heroes with SHIP? How to Maximize DPA in Florida

One of the most common questions Tampa Bay buyers ask is whether they can combine Florida Hometown Heroes with county SHIP funds. The answer is: in many cases, yes — and doing so can dramatically increase your total assistance. Here is how stacking works and what you need to know.

What Is SHIP and How Is It Different from Hometown Heroes?

SHIP stands for State Housing Initiatives Partnership. It is a Florida program that sends housing trust fund dollars to local governments, which then design their own assistance programs. Each county sets its own eligibility rules, assistance amounts, and application process.

Hometown Heroes is a separate statewide program administered directly by the Florida Housing Finance Corporation. It provides up to 5% of the first mortgage amount as a forgivable second mortgage.

Because these two programs come from different funding sources and are administered by different entities, they can potentially be combined — or "stacked."

Which Tampa Bay Counties Allow Stacking?

The ability to stack depends on the county's SHIP program rules. In Hillsborough County, SHIP funds may be used alongside Hometown Heroes in some cases. Pinellas County SHIP can sometimes layer with state programs. Pasco County has combined assistance in certain funding cycles. Manatee and Polk counties each have their own stacking rules.

The key variable is whether the county's SHIP program allows subordination to another second mortgage (Hometown Heroes). Not all do, and rules change with each funding cycle. Your lender must confirm compatibility before you count on stacking.

How Much Total DPA Can You Get by Stacking?

If stacking is available, the combined assistance can be substantial. On a $350,000 home, Hometown Heroes provides up to $17,500 (5%). If county SHIP adds $10,000 to $20,000 on top, your total assistance could reach $27,500 to $37,500. That amount can cover your entire down payment, all closing costs, and even prepaid items in some cases.

What Are the Rules for Stacking?

When stacking is allowed, lenders must navigate multiple lien positions (first mortgage plus two subordinate liens), separate income and eligibility requirements for each program, different forgiveness or repayment terms, and potentially different homebuyer education requirements. Your lender does the heavy lifting here — but they must be experienced with both programs. Not all lenders are comfortable managing stacked DPA transactions.

How to Find a Lender Who Can Stack Programs

The most critical step is working with a lender who is both Florida Housing-approved (for Hometown Heroes) and experienced with your county's SHIP program. Barrett Henry, REALTOR® with REMAX Collective, works with lenders throughout Tampa Bay who specialize in maximizing DPA combinations. With 23+ years of real estate experience, Barrett knows which lenders deliver the best results for stacked-DPA buyers.

Call Barrett at (813) 733-7907 to explore whether stacking is available for your situation.