City of Tampa Dare to Own the Dream: Up to $50,000 for First-Time Buyers (2026 Guide)

Most Tampa buyers spend their energy chasing state programs and national grants — and they walk right past $50,000 sitting at City Hall.

The City of Tampa runs its own first-time homebuyer assistance program, called Dare to Own the Dream (DARE), completely separate from Hillsborough County's SHIP funds and Florida's state-level programs. For eligible buyers purchasing within Tampa city limits, the DARE program is one of the most generous local programs in the state — up to $50,000 toward your down payment and closing costs, at zero interest, fully forgiven after 20 years.

The catch in 2026: the program paused new reservations on January 7 while it waits for the next round of state and federal funding. That's exactly why this is the time to prepare — so you're first in line the moment applications reopen.

For a full side-by-side comparison of every DPA program active in Tampa Bay right now, tampabaydownpayment.com tracks current status across all counties and cities.

What Is the Dare to Own the Dream Program?

The City of Tampa's Housing and Community Development Division created the DARE program to help income-eligible Tampa residents buy their first home. The city funds the program through a combination of SHIP (State Housing Initiatives Partnership) money and federal HOME funds — the same two pots that feed most local DPA programs across Florida.

Unlike Hillsborough County's SHIP program (covered in our county SHIP guide), which covers unincorporated Hillsborough County and does not apply inside Tampa city limits, the DARE program is specifically for buyers purchasing homes within the City of Tampa — neighborhoods like Seminole Heights, Tampa Heights, Ybor City, New Tampa, South Tampa, West Tampa, and Sulphur Springs all qualify if the parcel is inside the city boundary.

The assistance comes as a silent second mortgage — you make no monthly payments on it. It sits behind your first mortgage at 0% interest. After 20 years of continuous owner-occupancy, the entire balance is forgiven.

How Much Can You Receive?

The DARE program offers tiered assistance based on your household income relative to the Area Median Income (AMI) for the Tampa metro area:

For 2026, here's what those income tiers translate to in dollar terms:

The key insight: even a dual-income household earning over $100,000 can qualify for $30,000 in assistance. This is not just a low-income program.

Who Qualifies for DARE?

The City of Tampa requires buyers to meet all of the following:

1. First-time buyer status — You must not have owned a primary residence in the past three years. The city applies the standard federal definition.
2. Income limits — Total household income must fall at or below 140% AMI (see table above).
3. Minimum credit score — Your mid-credit score must be at least 600.
4. Debt-to-income ratio — Your back-end DTI cannot exceed 50%.
5. Purchase within Tampa city limits — The property must be inside the City of Tampa boundary, not just in Hillsborough County.
6. Primary residence — The home must be where you live. No rentals, investment properties, or second homes.
7. Purchase price cap — The home cannot exceed $450,000.
8. No active contract before reserving — You must receive a DARE reservation number before going under contract. Starting the process after signing a purchase agreement disqualifies you.

The 600 credit score threshold is lower than many buyers expect, making DARE accessible to buyers still building their credit history. If your score is near 580, our credit repair timeline walks through how to close the gap in 90 days or less.

What Housing Counseling Agencies Are Approved?

Before you can receive DARE funds, you must complete HUD-approved homebuyer education and counseling through one of four agencies approved by the City of Tampa:

• Housing & Education Alliance (HEA) — 9215 N. Florida Ave., Suite 104, Tampa, FL 33612 — (813) 932-HOME
• REACH (Real Estate Education and Community Housing, Inc.) — 4006 S. MacDill Ave., Tampa, FL 33611 — (813) 397-6208
• Solita's House, Inc. — 1029 E. Hillsborough Ave., Tampa, FL 33604 — (813) 425-4847
• Tampa Bay Neighborhood Housing Services — 608 N. Garden Ave., Clearwater, FL 33755 — (727) 405-1313

Since the DARE program is currently paused, this is exactly what you should be doing right now. Completing education now costs nothing and means you hold a completed requirement the moment the city reopens reservations. These agencies also provide one-on-one counseling that strengthens your application and helps you understand how to read your closing cost estimates.

How Does the 20-Year Forgiveness Work?

The DARE loan is fully forgiven if you live in the home continuously for 20 years as your primary residence. No partial forgiveness schedule, no annual pro-ration — you owe nothing after two decades.

• Selling the home
• Refinancing with cash out
• No longer occupying the home as your primary residence

A standard rate-and-term refinance (lowering your interest rate without pulling cash out) generally does not trigger repayment, but you must confirm this with the city at the time of any refinance.

Can You Stack DARE With Other Programs?

Yes — and stacking is how many Tampa buyers arrive at closing with minimal out-of-pocket costs.

DARE + Hometown Heroes: Florida Hometown Heroes provides eligible workers (teachers, nurses, firefighters, law enforcement, military, and 50+ other qualifying occupations) up to 5% of the first mortgage as a second mortgage for down payment and closing costs. The maximum is $35,000. Combined with DARE's $50,000, a qualifying buyer could receive $85,000 in total assistance.

DARE + FHA: The DARE second mortgage is compatible with FHA first mortgages, which require only 3.5% down. On a $350,000 home, your FHA down payment is $12,250 — easily covered by DARE funds, leaving the remainder for closing costs.

DARE + Conventional: HomeReady and Home Possible conventional loans accepting DARE in second position let buyers avoid FHA mortgage insurance while still using the city's assistance.

Confirm your stacking strategy with your lender before assuming compatibility. Our guide on how to choose a mortgage lender in Florida explains what to ask when comparing lenders who work with DPA programs.

What Is the Current Status in 2026?

The City of Tampa suspended new DARE reservations on January 7, 2026 after exhausting available funds. The city confirmed it plans to reopen applications once the next SHIP and HOME fund allocations arrive — typically tied to state legislative sessions and federal grant cycles.

This is not unusual. Many of the best DPA programs in Tampa Bay operate on a first-come, first-served basis and pause periodically as funds run dry. Pinellas County's own program went dark before reopening in late 2025. Funding almost always returns.

The worst thing a buyer can do is ignore DARE because it's temporarily paused. The buyers who get the money are the ones who complete their education, get pre-approved, and call the housing counseling agency now — before the announcement that funds are back. By the time that news spreads, reservation slots are gone within days.

How Barrett Henry Can Help

Barrett Henry, REALTOR® at (813) 733-7907, is on the City of Tampa's approved REALTOR list for the DARE program. Buyers must use an approved agent and approved lender — working with someone outside that list disqualifies you from the funding.

With 23+ years of experience working with first-time buyers across Tampa Bay, Barrett knows how to write offers that give the city enough time to process your reservation, which lenders process DARE correctly, and how to layer the city's assistance with state programs to maximize what you walk away with.

Call (813) 733-7907 now to confirm your DARE eligibility, get a referral to an approved housing counseling agency, and get into position before the next funding cycle opens. The $50,000 goes to whoever is ready.