A first mortgage and down payment assistance are different layers. Compare the loan, any second mortgage and the complete ownership budget together. Florida Housing products have borrower, property, education and county-limit conditions; an advertised benefit does not establish approval or current funding.
First Mortgage, Assistance and Eligibility
HFA Preferred and HFA Advantage refer to conventional first-mortgage products, not a standalone promise of assistance. FHA, VA, USDA and conventional financing each need their own borrower/property review. Florida Housing states a minimum credit score of 640 for its homebuyer program; the selected product, underwriting method and lender can impose additional conditions.
Three Layers to Confirm
| Layer | Examples | Ask the Lender |
|---|---|---|
| First mortgage | FHA, VA, USDA and conventional/HFA products | Which current product fits occupancy, credit and the property? |
| Assistance second mortgage | FL Assist, PLUS or Hometown Heroes, when eligible | Is it repayable, conditionally forgivable, and permitted with this first loan? |
| Eligibility and execution | County limits, education and reservation requirements | Which guide, income definition and approval steps apply? |
Assistance Examples: Repayment Is Not the Same
| Assistance | Published Structure | Repayment Distinction |
|---|---|---|
| FL Assist | Up to $10,000; 0% deferred second mortgage | Not forgivable; review the specified repayment triggers |
| Eligible HFA PLUS options | 3%, 4% or 5% of total loan amount | 20% forgiven annually over a 5-year term, subject to program conditions |
| Hometown Heroes | Up to 5%; $10,000 minimum / $35,000 maximum | 0% deferred second; not forgivable |
These are published assistance structures, not offers or a stacking menu. Confirm current first-mortgage pairings and terms; PLUS availability depends on the eligible conventional product.
Use the Correct County and Income Definition
Ask the lender for the current limit sheet for the exact product and county. Household category, targeted-area treatment and BOND versus TBA rules can matter. Use the applicable sheet rather than applying one income and purchase-price pair to every loan.
Check Hometown Heroes Employment and Occupancy
Review the current eligible-employer categories and separate military/veteran conditions. Veterans still need full-time Florida-based employment. First-time-buyer and income treatment can differ between BOND and TBA; do not infer an exemption or rental-investment eligibility from military status alone.
Review the Property, Not Only the Borrower
Confirm the home type and any project requirements early. FHA can allow eligible Single-Unit Approval in a project that is not FHA-approved; that is not a universal approval route. Ask the lender to review the specific unit, project and selected program.
Confirm Before Relying on a Program
- Identify the exact first mortgage and assistance product, not just an umbrella program name.
- Confirm current county limits, income definition, credit requirements and any first-time-buyer exception.
- Review occupancy, education, property/project and employer documentation requirements.
- Obtain lender confirmation of funding/reservation status and written repayment or forgiveness terms.
Frequently Asked Questions
Continue Your Buying Research
Official Sources and Current Program Checks
Reviewed October 17, 2026. Published program terms are not an approval or a live funding confirmation. Use the current product guide and participating lender for the actual borrower and property.
Ready to Make Your Move to SWFL?
Let's discuss your relocation goals and find the perfect SWFL neighborhood for your lifestyle.