Down Payment Assistance Programs for Florida First-Time Buyers
12+ programs covering your down payment and closing costs. Most Tampa Bay buyers with 640+ credit qualify for multiple programs that stack together.
What down payment assistance programs are available in Tampa Bay?
Tampa Bay first-time buyers can access 12+ programs including Hometown Heroes ($10,000 minimum, up to $35,000 deferred), HFA PLUS (forgivable in 5 years), USDA and VA zero-down loans, the Chenoa Fund (no income limit), and county SHIP funds. Most buyers with 640+ credit qualify for multiple programs that stack together.
Your Loan, the first mortgage
The foundation. Choose based on military status, location, and credit.
USDA Rural Development Loan
Tampa/St. Pete city limits are NOT eligible, but 30 to 45 minutes out often IS (Plant City fringe, Dade City, Zephyrhills, Brooksville, Inverness, rural Polk/Manatee/Citrus/Hernando). Eligibility is ADDRESS-SPECIFIC via the USDA map. Barrett pulls eligible neighborhoods.
Do I qualify? →VA Loan
Tampa Bay = MacDill AFB country. Stacks with Hometown Heroes (veterans skip the first-time requirement AND the education course). The single strongest buyer profile on this site.
Do I qualify? →FHA Loan (the stacking workhorse)
THE MATH STORY: FHA needs 3.5% down. Hometown Heroes gives up to 5%. 5% > 3.5%, the assistance covers the entire down payment with money left toward closing. That is how Tampa Bay buyers walk in with nearly $0 out of pocket.
Do I qualify? →Conventional 3% Down (HomeReady / Home Possible / Conv 97)
Pairs with HFA PLUS forgivable seconds and bank grants.
Do I qualify? →Assumable Mortgage (FHA/VA takeover)
In a buyer's market with elevated rates, assuming a 3% mortgage can beat every program on this page. Barrett actively hunts assumable listings. Almost no competitor site even mentions this.
Do I qualify? →Your Assistance: covers down payment + closing costs
Stack these on top of your loan. Many buyers qualify for 2 to 3 simultaneously.
Florida Hometown Heroes
Funding is first-come, first-served. Veterans: no first-time requirement, no education course with a VA loan. May stack with county SHIP funds.
Do I qualify? →HFA Preferred/Advantage PLUS (Forgivable)
Best for buyers planning to stay 5+ years. The assistance becomes free money.
Do I qualify? →Florida Assist (FL Assist)
Straightforward deferred loan, no monthly payment, but you do pay it back eventually.
Do I qualify? →Florida Homeownership Loan Program (FL HLP)
Backup option. Has a real monthly payment, unlike the deferred programs.
Do I qualify? →County / Local SHIP Assistance
Can LAYER on top of Hometown Heroes. Combined assistance can exceed $50,000. Hillsborough County HFA runs its own first-time buyer DPA.
Do I qualify? →Chenoa Fund (national DPA)
Not a bond program, it never runs out of funds. The safety net when state funding is exhausted or the buyer is over income caps.
Do I qualify? →National Homebuyers Fund
Works with conventional, FHA, VA, AND USDA firsts.
Do I qualify? →Lender Grants (free money, never repaid)
Stack on top of a 3%-down conventional. Barrett's lender partners know which banks are running grants in Tampa Bay right now.
Do I qualify? →Not sure which programs are right for you?
Barrett will match you with the best combination based on your situation. No credit pull, no cost.
“Barrett stacked Hometown Heroes with FHA and we closed with $800 out of pocket on a $320K house.”
Side-by-Side Program Comparisons
Which programs do you qualify for?
2-minute eligibility check, no credit pull, no commitment.
Check My EligibilityOr call Barrett directly: (813) 733-7907