You don't need 20% down. From FL Assist and Hometown Heroes to county SHIP grants, Florida buyers can qualify for tens of thousands in down payment and closing cost help — often at 0% interest with no monthly payment.
The down payment is the biggest hurdle for most buyers — and the most misunderstood. Thousands of Florida homebuyers qualify for help they never apply for. Here's how down payment assistance (DPA) works and how to get your share.
DPA is money that helps cover your down payment and closing costs. It comes in a few forms:
Free money that never has to be repaid — often forgiven after you live in the home for a set number of years.
A 0% interest second lien with no monthly payment. You repay it only when you sell, refinance, or pay off the home — and some are forgiven over time.
A smaller second mortgage you pay back over time, typically at a very low rate.
Not cash up front, but a federal tax credit on a portion of your mortgage interest — up to $2,000 a year for the life of the loan.
These are run by the Florida Housing Finance Corporation (Florida Housing) and are available in every county:
Up to $10,000 as a 0% interest deferred second mortgage with no monthly payment. Works with FHA, VA, USDA, and Freddie Mac HFA Advantage conventional loans.
Up to 5% of your loan amount (minimum $10,000, maximum $35,000) for eligible workforce members — teachers, nurses, first responders, active military, and 50+ other professions.
A 30-year fixed first mortgage at a below-market rate that can be paired with FL Assist. Minimum credit score around 640.
Claim 10–50% of your annual mortgage interest as a dollar-for-dollar federal tax credit — stackable with DPA for extra savings every year.
If you're buying in the Orlando area, you may qualify for local help on top of — or instead of — the statewide programs:
Up to $45,000 toward down payment and closing costs for income-eligible first-time buyers.
Up to $70,000 in income-based tiers for down payment and closing cost assistance.
Each runs its own SHIP or first-time buyer program. Amounts and rules vary by county and funding cycle.
Local programs pause new applications when funding cycles reset. Your loan officer tracks this for you.
This is where DPA changes the math. Florida buyers can often buy with far less than the 20% myth:
100% financing with no mortgage insurance for veterans and active-duty military.
Zero down for eligible rural and suburban areas across Florida.
HomeReady, Home Possible, and Conventional 97 start at just 3% down.
Stack FHA with DPA and you can reach near-100% financing.
Every program is different, but most Florida DPA programs share these requirements:
The smartest Florida buyers combine help. A common playbook:
Example: A $300,000 FHA purchase needs about $10,500 down (3.5%). FL Assist can cover $10,000 of that — leaving you to bring roughly $500 plus a small portion of closing costs.
Jimmy's tip: Don't wait to "save enough" for a big down payment. Find out what you qualify for first — the numbers may surprise you.
Straight answers to the questions buyers ask most. Your loan officer is always your best resource for your specific situation.
Jimmy will review your situation, run the numbers, and show you exactly which down payment assistance programs you qualify for — no jargon, no pressure.
Jimmy Nadeau Senior Loan Officer
CrossCountry Mortgage · Branch #3982 · Winter Park, FL
147 E Lyman Avenue, Suite D & C-1, Winter Park, FL 32789
NMLS #2102442
CrossCountry Mortgage, LLC · NMLS #1444822 · Equal Housing Lender
This page is for informational purposes and is not a commitment to lend. Down payment assistance programs are administered by state, county, and local agencies and other third parties; availability, funding, guidelines, and terms vary and are subject to change. Your rate may vary. Terms apply.