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: up to 5% of the home loan, as a forgivable loan.

Amount: Up to 5% of the home loan
Kind of help: Forgivable loan
First-time buyers only: Yes
Credit score: 640 or higher

How is Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage paid back?

Forgivable loan: 20% is forgiven each year, so after 5 years you owe nothing.

A forgivable loan is written off once you have kept the home and its first mortgage for the years the program sets.

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

Your income must be below the limit for the county where you buy.
Only for first-time buyers (usually no home owned in the past three years).
A credit score of 640 or higher.
A homebuyer education course before you buy.
It comes with florida Housing's conventional HFA Preferred for TBA or HFA Advantage for TBA first mortgage.
Price limit: varies by county.

Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.

How to apply for Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage

Florida Housing Finance Corporation pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
The lender checks your income, credit and the home against the program's rules and reserves the money for you.
The help is paid at closing, toward your down payment and closing costs.

Read the full rules and whether it is taking applications on Florida Housing Finance Corporation's page for 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage, or pick a lender from the agency's list of participating lenders.

Ask a lender about Florida 3%, 4% and 5% HFA Preferred and HFA Advantage PLUS Second Mortgage

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

Rather not call? Send your details and the lender will reach you.

Other first-time buyer programs in Florida

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

All Florida first-time home buyer programs · Down payment assistance in every state