Florida Assist — $10,000 in Down Payment & Closing Cost Help

What Is the Florida Assist Program?

Florida Assist is a statewide down payment assistance program administered by Florida Housing Finance Corporation. It provides up to $10,000 in assistance for down payment and closing costs, delivered as a 0% interest, non-amortizing second mortgage. That means zero monthly payments on the assistance — the balance sits behind your first mortgage and is only due when you sell, refinance, or pay off the primary loan.

Unlike many DPA programs that restrict eligibility to first-time homebuyers, Florida Assist is available to both first-time and repeat buyers when paired with qualifying first mortgage products. This makes it one of the most accessible assistance programs in the state — particularly valuable for move-up buyers in Tampa Bay who have owned before but still need help with their next purchase.

According to Florida Housing, the Florida Assist program has been one of their longest-running DPA options, consistently helping thousands of Florida families bridge the gap between saving and homeownership each year.

How Does Florida Assist Work?

Florida Assist is structured as a deferred second mortgage. Here is exactly what that means for your finances:

• $10,000 flat amount — Every eligible borrower receives up to $10,000 regardless of loan size or purchase price (subject to program guidelines).
• 0% interest — No interest accrues on the second mortgage. You repay exactly what you borrowed.
• Non-amortizing (deferred) — No monthly payments are required. The $10,000 sits silently behind your first mortgage.
• Due on sale, refinance, or payoff — When you sell the home, refinance the first mortgage, or pay off the first mortgage in full, the $10,000 becomes due. You repay it from sale proceeds or out of pocket.
• Not forgivable — Unlike Hometown Heroes, Florida Assist is not a forgivable loan. The $10,000 must eventually be repaid. However, because there is no interest, you can live in the home for decades and never owe a penny more than the original amount.

For many Tampa Bay buyers, the $10,000 from Florida Assist covers the entire minimum down payment on an FHA loan (3.5%) for homes up to approximately $285,000, with funds left over for closing costs.

Who Is Eligible for Florida Assist?

Eligibility requirements are set by Florida Housing and include:

• Income limits — Your household income must fall at or below the county-specific limit. These limits are based on area median income and are updated periodically by Florida Housing.
• Purchase-price limits — The home must fall within the maximum purchase price for your county.
• First-time or repeat buyer — First-time buyers qualify with all eligible first mortgage products. Repeat buyers qualify when paired with certain products like FL HFA Preferred or FL HFA Advantage.
• Participating lender required — You must originate your loan through a Florida Housing-approved lender.
• Primary residence only — The home must be your primary residence. Investment properties and second homes are not eligible.
• Minimum credit score — Most first mortgage products require a minimum credit score of 640, though some FHA options may accept lower scores. Check with your lender.

The fact that repeat buyers can access Florida Assist sets it apart from most DPA programs in the state. If you have owned a home before and need help with your next purchase, this may be your best option.

Can You Stack Florida Assist with Other DPA Programs?

Yes — and this is where Florida Assist becomes especially powerful. You can combine it with the following Florida Housing programs:

• FL HFA Preferred PLUS — A Fannie Mae conventional loan product that includes a forgivable grant of 3-5% of the loan amount. Stack this with Florida Assist for up to $10,000 deferred plus a forgivable grant.
• FL HFA Advantage PLUS — The Freddie Mac equivalent. Same concept: a below-market-rate first mortgage with a built-in forgivable grant, plus $10,000 from Florida Assist on top.

When you combine programs, you may receive enough assistance to cover your entire down payment and most of your closing costs. For example, on a $300,000 home:

• FL HFA Preferred PLUS grant (4%): $12,000 (forgivable)
• Florida Assist: $10,000 (0% deferred)
• Total assistance: $22,000 — likely covering your entire 3% down payment ($9,000) plus closing costs

Your participating lender will determine exactly which combinations are available based on your income, credit score, and the property you are purchasing. Amounts and terms may change — verify current eligibility with your lender.

How Do You Apply for Florida Assist?

1. Contact a participating lender. Florida Housing maintains a directory of approved lenders. You can also call Barrett Henry at (813) 733-7907 for a referral to a lender experienced with Florida Assist in Tampa Bay.
2. Choose your first mortgage product. Your lender will help you select the best first mortgage (FHA, conventional, HFA Preferred, or HFA Advantage) to pair with Florida Assist.
3. Get pre-approved. The lender will verify your income, employment, credit, and purchase-price eligibility.
4. Find your home. Work with a knowledgeable REALTOR to find a property within the program's purchase-price limits.
5. Close and receive your $10,000. At closing, the Florida Assist funds are applied to your down payment and closing costs. The 0% second mortgage is recorded behind your first mortgage.

The timeline from application to closing typically runs 30 to 60 days. Florida Assist funding is available on a continuous basis (unlike Hometown Heroes, which can exhaust its annual allocation), but program terms can change at any time. Apply as soon as you are ready.