Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage

Florida Housing Finance Corporation offers 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage to first-time buyers in Florida: as much as 5% of your home loan, as a forgivable loan.

Amount: As much as 5% of your home loan
Help type: A loan that can be forgiven
Just first-time buyers: Yes
Credit rating: At least 640

How do you repay Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage?

Each year, 20% of this forgivable loan is forgiven; after 5 years, no balance remains.

Keep your house and first mortgage for the required years, and the forgivable loan gets cleared.

Who is eligible for Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage?

The county where you buy sets a limit your income must stay under.
It's open only to first-time buyers (usually meaning no home owned in the last three years).
Your credit score needs to be 640 or higher.
You'll take a homebuyer education course ahead of your purchase.
Use it alongside Florida Housing's conventional first mortgage, either HFA Preferred for TBA or HFA Advantage for TBA.
Purchase price cap: it changes from county to county.

Your county and household size set most of the limits. Use our HUD income limits lookup to see the median income for your area and where your household falls.

Applying for Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage

Florida Housing Finance Corporation sends this help through approved lenders. You apply with one when you get your home loan.
Your income, credit and the home are checked by the lender against the program's rules, and the lender reserves the funds for you.
At closing the money goes toward your down payment and closing costs.

Florida Housing Finance Corporation's page for 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage has the full rules and application status. You can also choose from the agency's approved lender list.

Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage: questions for a lender

Tell us where you're buying and a lender that works with Florida's programs can tell you whether Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage fits you, and what you could combine with it.

Call 866-602-7460

Don't want to call? Share your details and the lender will contact you.

More Florida programs for first-time buyers

Florida Assist (FL Assist):
A deferred loan of up to $10,000.
Florida Homeownership Loan Program (FL HLP) Second Mortgage:
A repayable loan of up to $12,500.
Florida Hometown Heroes Housing (HTH) Program:
A deferred loan of up to 5% of the home loan, capped at $35,000.

All Florida programs for first-time home buyers · Down payment help across every state