Local Programs To Help With Your Down Payment & Closing Costs!

St Pete City’s Down Payment & Closing Cost Assistance Program

The City of St. Petersburg offers financial assistance to first time home buyers who purchase and occupy a new or existing eligible residential property located within the city’s municipal boundaries and have not received prior financial assistance from the City of St. Petersburg.

Second mortgage loans are available to assist the home buyer with closing costs, down payment and/or to reduce or “buy-down” the first mortgage interest rate. Down payment and closing cost assistance loans are provided to income eligible applicants at a zero percent (0%) interest rate. Loan amounts are determined by the sales price of the home.


Pinellas County Down Payment & Closing Cost Assistance Program

​Pinellas County offers a program based in certain income limitations, you can qualify for similar benefits as the St Pete Program assuming the home is located in Pinellas County, but outside of the City of St Pete geographically speaking. If you have never owned a home, have not owned a home in the past three years, or are a veteran, you may qualify. Down payment and closing cost assistance is available with the Home Key Plus 2nd Mortgage. This is a limited time offer.


City Of Tampa Down Payment & Closing Cost Assistance Programs

The City of Tampa offers down payment assistance loans to income eligible home buyers of property within the City limits of Tampa. The loan is in second position behind primary financing from a mortgage lender and is typically known as a “silent second” because of the 0% rate and $0 monthly payment.

The Deferred Payment Loan (DPL) can remain “silent” as long as the property continues to be the owner’s primary residence and owner occupied. The program provides up to $14,999 to assist income eligible first time homebuyers to achieve the dream of homeownership. Here are the basic highlights of the City-Wide Mortgage Assistance Program:

Potential buyer must begin process with one of three approved Housing Counseling agencies and MUST NOT be under contract before receiving a reservation number. The Counseling agency will provide education, complete application with client and collect documentation. (See attached list of approved agencies.)

  • $14,999** Max award. Down payment: up to 20% of the purchase price or $10,000 whichever is less, toward the down payment. Closing costs: 50% of closing costs up to a maximum of $4,999, whichever is less.
  • Fully Forgivable after 5 yrs, assuming still owner occupied.
  • Income calculated based on HOUSEHOLD income, not just the loan applicant.
  • Household income must be below 120% Area Median Income (AMI).
  • Debt ratios of 31/45%. Minimum Credit Score of 600.
  • Maximum purchase price is $180,000.
  • Total of $2000 investment from the borrower with a minimum of $1000 from borrower’s own verifiable funds. The additional $1000 may include POC’s (appraisal, inspections, etc…)
  • Loan types are flexible – Includes fixed and fully amortized products: FHA/VA, Conventional, Affordable Housing Products; ARM loans are not allowed
  • Home Inspection by the Buyer and HQS Inspection is required before closing.

** Not All Buyers Will Qualify For Max Award, Depending On Need**