Financial Assistance Programs

Did you know there are programs that can help you cover your down payment and closing costs? Whether you’re buying your first home or your next home, these resources can make homeownership more affordable than you think.

Here are some local Florida programs and national programs to explore:

Florida-Specific Programs

1. Florida Housing Finance Corporation (FHFC):

   • Offers down payment and closing cost assistance through the Florida First and Florida HFA Preferred programs.

   • Provides low-interest mortgages and grants for first-time homebuyers.

2. SHIP Program (State Housing Initiatives Partnership):

   • Available in many Florida counties, SHIP offers assistance with down payments, closing costs, and home repairs.

   • Income limits and eligibility vary by county.

3. Hometown Heroes Program:

   • Designed for frontline workers like teachers, healthcare professionals, and first responders.

   • Offers down payment assistance and competitive interest rates.

National Programs

1. FHA Loans:

   • Requires as little as 3.5% down and allows down payment assistance programs to cover the cost.

2. VA Loans:

   • For eligible veterans and service members, VA loans require no down payment and offer competitive rates.

3. USDA Loans:

   • No down payment required for buyers in eligible rural areas.

4. Good Neighbor Next Door:

   • Offers up to 50% off the list price of homes for teachers, firefighters, law enforcement officers, and EMTs.

How to Get Started

1. Check Your Eligibility: Many programs have income limits or other requirements.

2. Work with a Lender: They can help you find programs that fit your situation.

3. Apply Early: Funds are often limited, so don’t wait!