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Down payment Assistance Programs
Hurricane Michael Recovery Loan Program

Provides Program qualified homebuyers with up to $15,000 in down payment assistance (DPA) and to help cover closing costs. The program is available for prospective homebuyers wanting to purchase homes located in the following Hurricane Michael impacted counties only: 

  • Bay
  • Calhoun
  • Franklin
  • Gadsden
  • Gulf
  • Holmes
  • Jackson
  • Liberty
  • Taylor
  • Wakulla
  • Washington

DPA loans will be at zero percent interest, non-amortizing (no payment required) and forgivable at 20 percent per year over five years. The DPA loan is fully forgivable if an active duty serviceperson is officially reassigned and must sell the home. For more information, visit the Homebuyer Programs Wizard for more program information.

This Program is NOT available as "stand alone" DPA. It is only available when used in conjunction with one of Florida Housing’s Homebuyer Loan Programs First Mortgage products. You DO NOT have to be a first-time homebuyer to utilize these funds.

The Florida Assist (FL Assist)

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL Assist Second Mortgage Program. The FL Assist offers the following:

  • Up to $7,500.
  • 0%, deferred second mortgage.

The FL Assist is not forgivable. Repayment is deferred, except in the event of the sale, transfer, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor ceases to occupy the property at which time, the Florida Assist will become payable in full.

3% and 4% HFA Preferred Grants

Borrowers utilizing these down payment and closing cost programs receive 3% or 4% of the purchase price of the home being purchased in the form of a non-repayable grant.

For more information, please visit our Homebuyer Program Wizard.

The Florida Homeownership Loan Program (FL HLP) Second Mortgage

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL HLP Second Mortgage Program. The FL HLP offers the following: 

  • Up to $10,000.
  • 3% fully-amortizing, second mortgage.
  • 15-year term.

The FL HLP Second Mortgage carries a monthly payment. The remaining unpaid principal balance (UPB) is deferred, except in the event of the sale, transfer of deed, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor(s) ceases to occupy the property as his/her primary residence at which time, the FL HLP Second Mortgage will become payable, in full. 

Since the FL HLP Second Mortgage carries a monthly payment, this payment may need to be considered in a borrower’s debt-to-income (DTI) ratio when credit underwriting. 

 
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