Tampa Bay First-Time Home Buyer Programs (2026 Guide)
By Josh Richardson (NMLS 2448184) and Anna Richardson (NMLS 2045806) | Updated November 2026
Program funding and limits change often; confirm current details before you apply.
First-time buyers in Tampa Bay can get help with the down payment and closing costs from the State of Florida, Hillsborough and Pinellas counties, and the cities of Tampa and St. Petersburg. Most assistance comes as a 0% second mortgage, and some of it is forgiven if you stay in the home long enough.
I’m Josh Richardson, a Tampa Bay mortgage broker (NMLS #2448184). Here’s a plain-English summary of the main programs, who they’re for, and what to watch for.
Quick comparison
| Program | Area | Assistance | How it’s repaid |
|---|---|---|---|
| City of Tampa Dare to Own the Dream | Tampa city limits | Up to $50,000 | Depends on income; ask for current terms |
| St. Petersburg Down Payment Assistance | St. Petersburg city limits | 20% of price + $5,000 closing costs, up to $75,000 | Forgiven after 10 years for many buyers; others repay |
| Florida Hometown Heroes | Statewide | 5% of loan, $10,000 to $35,000 | 0% second mortgage, due on sale or refinance |
| Florida Assist | Statewide | Up to $10,000 | 0% deferred, due on sale or refinance |
| HFA Preferred / Advantage PLUS | Statewide | 3%, 4% or 5% of loan | Forgiven 20% per year over 5 years |
| Pinellas County Home Key Plus | Pinellas County | $10,000 | 0% deferred, due on sale or refinance |
| Hillsborough County Home Sweet Home | Hillsborough County | 0% second mortgage (amount varies) | Check current program guide |
City of Tampa: Dare to Own the Dream
Tampa’s DARE program offers up to $50,000 to eligible first-time buyers purchasing inside Tampa city limits. The amount depends on household income. In fiscal year 2026 the program set a record with 71 closings and $5.31 million in assistance, and the City says applications are open. Your Home Loan Team is an approved lender for this program. City of Tampa announcement
St. Petersburg Down Payment Assistance
St. Pete lends 20% of the purchase price plus $5,000 for closing costs, up to $75,000, as a 0% second mortgage. Buyers at or below 80% of area median income (AMI), or up to 120% AMI inside the South St. Pete CRA, have the loan forgiven after 10 years in the home. Higher-income buyers repay part or all of it. The price limit is $544,233, buyers put in 1% of the price, and an 8-hour homebuyer class is required. Your lender submits the application. Some funding sources have paused at times, so check status first. City of St. Petersburg program page
Florida Hometown Heroes
Hometown Heroes helps full-time workers in eligible occupations, such as teachers, nurses, first responders, health care workers and military members, buy in the community they serve. It provides 5% of the first mortgage amount, from $10,000 up to $35,000, as a 0% second mortgage that’s due when you sell, refinance or move out. You need a 640 credit score and must meet county income limits. Funding comes in rounds: a $50 million round opened July 13, 2026, and more than $25 million remained as of late September. Rounds can run out quickly.
Florida Housing: Florida Assist and HFA PLUS
Florida Housing Finance Corporation offers a 30-year fixed first mortgage for first-time buyers, paired with help for the down payment:
- Florida Assist: up to $10,000 at 0%, deferred until you sell, refinance or stop living in the home. Works with FHA, VA, USDA and conventional loans.
- HFA Preferred and HFA Advantage PLUS: 3%, 4% or 5% of the loan amount, forgiven 20% per year over 5 years. Conventional loans only.
- Florida HLP: $12,500 at 3% over 30 years, with a monthly payment.
All require a 640 credit score, approved homebuyer education, and income and price below county limits. Florida Housing homebuyer programs
Pinellas County: Home Key Plus
The Housing Finance Authority of Pinellas County offers a $10,000 Home Key Plus second mortgage at 0%, deferred until you sell, refinance or move out. It requires a 660 credit score and a homebuyer education class. For 2026, income limits in non-target areas are $114,700 for a household of 1 to 2 and $131,905 for 3 or more, with higher limits in target areas. Veterans don’t need to be first-time buyers. Pinellas County program page
Hillsborough County: Home Sweet Home
Hillsborough County’s Housing Finance Authority offers first-time buyers two options: the Home Sweet Home Hillsborough Program and the Affordable Income Subsidy Grant, provided as a 0% second mortgage. Amounts and limits are set in the program guide, which is updated during the year. Hillsborough County program page
Not a first-time buyer, or don’t qualify for assistance?
You still have low-down-payment options: FHA loans with 3.5% down, conventional loans with as little as 3% down, and VA loans with 0% down for eligible veterans and service members. See our VA loans, FHA loans and first-time homebuyer FAQ pages.
How I help
- We look at your income, credit, savings and where you want to buy.
- I tell you which programs you’re likely to qualify for and how each one is repaid.
- We compare the total cost against a standard loan, so you know the assistance is worth it.
Call (727) 888-6650 or email josh@yourhomeloanteam.com to see which Tampa Bay programs fit you.
First-time buyer FAQ
Do I have to be a first-time buyer to get down payment assistance in Tampa Bay?
Most programs use the IRS definition: you haven’t owned and lived in a primary residence in the past three years. So past owners can often qualify. Veterans are exempt from this rule for some programs, including Pinellas County’s.
What credit score do I need?
Florida Housing programs, including Hometown Heroes, require at least 640. Pinellas County’s Housing Finance Authority requires 660. City programs set their own rules, so check before you apply.
Can I combine more than one program?
Sometimes. Some city programs can be layered with a state program, and some can’t. It depends on each program’s rules and your first mortgage, so I check combinations case by case.
Is down payment assistance free money?
Usually not. Most Tampa Bay assistance is a 0% second mortgage that’s either repaid when you sell or refinance, or forgiven after you live in the home for a set number of years. Read the repayment terms before you choose.
Do I need to take a homebuyer class?
Almost always. Florida Housing, Pinellas County and St. Petersburg all require an approved homebuyer education course before closing.
Program terms, funding and limits are set by each agency and can change without notice. Not all applicants will qualify. Your Home Loan Team, powered by GoRascal, NMLS #2072896. Josh Richardson, NMLS #2448184. Equal Housing Opportunity.
