If you are buying your first home in Boca Raton or anywhere in Florida, the down payment is usually the hardest part. Florida runs large state and local homebuyer assistance programs, and the state program is available in every county through approved lenders. The catch is that most of this help is structured as a second mortgage with rules attached, not as a free grant.

Here is a plain English look at what is actually available to Florida first-time buyers in 2026, what changed this year, and what you should verify before you count on any of it.

The short version

Florida Housing’s Homebuyer Loan Program pairs a 30 year fixed first mortgage with a second mortgage for down payment and closing costs.
The main second mortgage options are the FL Assist (up to $10,000, 0%, deferred, not forgivable), the Florida Homeownership Loan Program (FL HLP, $12,500, 3%, with a monthly payment), and the HFA Preferred or HFA Advantage PLUS second mortgage (3%, 4%, or 5% of the loan amount, forgivable over five years).
The Florida Hometown Heroes program is aimed at specific workforce occupations and offers 5% of the loan amount, from $10,000 up to $35,000.
Assistance money is only available when it is paired with a Florida Housing first mortgage. It is not offered as stand alone down payment help.
Income limits and purchase price limits are set county by county, and they change during the year.

How Florida homebuyer assistance really works

Most Florida assistance programs use a two loan structure. You get a normal first mortgage for the home, and a smaller second mortgage that covers part or all of the down payment and closing costs.

Because that second loan is recorded against your home, it has to be dealt with later. Depending on the program, it may be:

Deferred but not forgivable. No monthly payment while you live there, but the balance is due when you sell, refinance, or stop occupying the home.
Amortizing. It works like a small second mortgage with a monthly payment.
Forgivable. A share of the balance is forgiven each year you stay, and the remaining balance disappears at the end of the forgiveness period.

This is why “free down payment money” language oversells these programs. You are getting a real loan with real terms, and the terms matter as much as the amount.

The Florida Housing Homebuyer Loan Program

Florida Housing Finance Corporation is the state agency behind most first-time buyer financing in Florida. Its homebuyer program offers 30 year fixed rate first mortgages through participating lenders, and it can be paired with one of the second mortgage programs described below.

Current requirements listed by Florida Housing include:

A minimum credit score of 640.
An approved homebuyer education course completed before closing.
Income below the limit for the county where you are buying.
A purchase price below the limit for that county.
First-time homebuyer status under the IRS definition, which means no ownership and occupancy of a primary residence in the three years before the purchase.
Working with a lender approved to originate the program.

Eligible first mortgages include FHA, VA, USDA, and conventional loans through the HFA Preferred and HFA Advantage products. Properties can include single family homes, townhomes, two to four unit homes where you occupy one unit, condos in approved projects, and modular or mobile homes built in 1994 or later.

Two details surprise borrowers. First, some Florida Housing programs count the income of all household occupants age 18 and older, even if they are not on the loan. Second, the first-time buyer requirement has exceptions, including a veteran’s exemption and an exemption for purchases in federally designated targeted areas. Palm Beach County has targeted census tracts, so it is worth asking whether the address you are considering falls inside one.

The three main second mortgage options

Florida Assist (FL Assist)

Up to $10,000 on FHA, VA, USDA, and conventional loans. It is a 0% non-amortizing second mortgage with no monthly payment, and it is not forgivable. The balance becomes due when you sell, transfer the deed, pay off the first mortgage, refinance, or stop occupying the home.

Florida Homeownership Loan Program (FL HLP)

$12,500 as a 3% fully amortizing second mortgage over 30 years. It carries a monthly payment, and because it does, that payment may need to be counted in your debt to income ratio. The remaining balance is deferred until you sell, refinance, transfer the deed, or move out.

HFA Preferred and HFA Advantage PLUS

This option provides 3%, 4%, or 5% of the total loan amount as a forgivable second mortgage, forgiven at 20% per year over a five year term. It only works with the conventional HFA Preferred or HFA Advantage first mortgage products, so it is not available with FHA, VA, or USDA financing.

Hometown Heroes in 2026

The Hometown Heroes program is the piece most Florida buyers ask about, and it has the strictest rules. For the 2026 program year, Florida Housing limits eligibility to buyers who work full time for a Florida based employer in one of these groups:

Health care workers.
School staff members.
First responders, public safety employees, and court employees.
Child care workers.
Service members of the U.S. military or reserves, the U.S. Coast Guard or its reserves, or the Florida National Guard.
Veterans employed full time by a Florida based employer.

The assistance is 5% of the first mortgage amount, with a minimum of $10,000 and a maximum of $35,000, delivered as a 0% deferred second mortgage that is not forgivable. The program also advertises a lower first mortgage rate, reduced upfront fees, and no origination or discount points.

Funding is the part to watch. Hometown Heroes is funded in rounds and distributed first come, first served. The 2025 round opened in August 2025 with $50 million and had committed all of it within roughly six months. Florida Housing’s 2026 program materials and its 2026 income and loan limits are dated July 2026, which tells you a new funding year is under way, but the agency does not publish a live balance. Ask a participating lender whether the program is taking reservations before you build it into your plan.

Veterans and service members

If you have VA entitlement, you may not need down payment assistance at all. The VA reports that nearly 90% of VA backed loans are made with no down payment. Florida Housing also exempts qualifying veterans from the first-time homebuyer requirement in its bond program, though the agency requires a DD214 and does not extend that exemption to active duty service members, reservists, or National Guard members. Ask your lender how the two sets of rules interact before you assume you qualify for both.

What about the mortgage credit certificate?

Buyers who have been in the market for a while often ask about the mortgage credit certificate, or MCC, which let eligible buyers claim a share of their mortgage interest as a federal tax credit. Florida Housing no longer offers that program and has not issued a certificate since December 31, 2020. Some city and county housing agencies in Florida may still run their own MCC programs, so it is worth checking with the agency that covers your property. If you already hold an MCC, the credit continues while you own and occupy the home, and the recapture rules on an early sale still apply.

Low down payment loans without assistance

Assistance is not the only path. Some buyers do better with a first mortgage that carries a lower down payment and no second lien:

VA loans for eligible veterans and service members with remaining entitlement, as noted above.
FHA loans, which are often a fit for buyers with smaller savings or a thinner credit file. Mortgage insurance costs apply and vary.
Conventional loans through Florida Housing’s HFA products, which can pair with the PLUS second mortgage.
USDA loans for properties in eligible rural areas. Eligibility is checked address by address, not by city name, so a suburban address can sit outside the eligible area.

Each has different mortgage insurance, pricing, and property rules. Comparing a second lien against a slightly higher rate on the first loan is a math problem that depends on how long you plan to keep the home.

Your county and city may add programs

Florida’s State Housing Initiatives Partnership program, known as SHIP, sends money to counties and cities for local homebuyer assistance. Palm Beach County and several municipalities inside it operate their own programs, and each sets its own income limits, purchase price caps, and repayment terms. Local programs sometimes reach households that the state programs do not, and they sometimes pause intake when funds run short. Check with the county or city housing office for the specific address you are buying.

Stacking more than one source of assistance is sometimes possible and sometimes not, depending on the lender and the programs involved. Do not assume it, ask.

Mistakes that cost buyers the help

Calling these programs grants. Most are loans secured by a second mortgage.
Waiting until after you are under contract to ask about assistance.
Looking at income for the people on the loan only. Household income rules can pull in other occupants.
Shopping one bank, getting a no, and concluding nothing is available.
Ignoring purchase price caps, then falling in love with a home above the limit for the program.
Skipping homebuyer education until the last week of the file.
Forgetting that the second mortgage has to be handled when you refinance or sell.

What to do, in order

Check the income limit and purchase price limit for your county before you shop.
Complete an approved homebuyer education course early, since it is required for the state program.
Talk to a lender approved to originate Florida Housing programs, and ask which second mortgage options fit your file.
Compare an FHA, VA, USDA, or conventional first mortgage using total cost, not just the rate.
Confirm current program funding and availability, especially for Hometown Heroes.
Budget for Florida property taxes, windstorm coverage, and flood insurance where it applies, because those costs shape what you can afford.

Why work with a mortgage broker on this

Down payment assistance adds a second loan, a second set of guidelines, and often a second underwriter to your file. Programs change, funding rounds close, and limits are revised during the year. Working with a broker who originates these programs regularly is about knowing which combination is available for your county, your income, and your timeline before you write an offer.

MJS Financial LLC works with Florida buyers on conventional, FHA, VA, jumbo, and alternative documentation loans, including Florida Housing’s homebuyer programs. You can start a Boca Raton mortgage pre-approval, use our mortgage calculator to estimate payments, review current Boca Raton mortgage rates, or call 561-212-0002 to talk through what your file may qualify for. Pre-approval is not a guarantee of approval, and program eligibility is always confirmed by the lender and the agency.

FAQ

Are Florida first-time homebuyer programs grants?

Mostly no. Florida Housing’s assistance programs are second mortgages. The HFA PLUS second mortgage is forgivable over five years, and the FL Assist and Hometown Heroes seconds are deferred but not forgivable, meaning the balance is repaid when you sell, refinance, or move out.

Do I have to be a first-time homebuyer to use these programs?

Florida Housing’s homebuyer loan program generally requires first-time homebuyer status under the IRS definition, which looks at whether you owned and occupied a primary residence in the last three years. There are exceptions, including for qualifying veterans and for purchases in federally designated targeted areas. Hometown Heroes also requires first-time buyer status.

What credit score do I need?

Florida Housing currently lists a 640 minimum credit score, and individual lenders and loan types can carry their own requirements. Some buyers qualify for other loan programs with different score minimums, so a decline from one lender does not mean you are out of options.

Can I use assistance with an FHA or VA loan?

Yes. The FL Assist and Hometown Heroes second mortgages can be used with FHA, VA, USDA, and conventional first mortgages. The HFA PLUS forgivable second mortgage is limited to the conventional HFA Preferred and HFA Advantage first mortgages.

Can I combine Hometown Heroes with another program?

It depends on the lender and the programs involved. Some combinations are permitted and some are not, and the answer can change with underwriting. Ask your lender to confirm the specific stack before you rely on it.

Does the second mortgage affect my debt to income ratio?

It can. The FL HLP second mortgage carries a monthly payment, and that payment may need to be counted. The FL Assist and Hometown Heroes seconds are deferred with no monthly payment while you occupy the home, but they still have to be repaid later.

What happens when I sell or refinance?

The deferred second mortgages become due. With a forgivable second, any balance not yet forgiven is typically due at that point as well. Plan for that before you refinance into a new loan.

Does Florida still offer a mortgage credit certificate?

Not through Florida Housing. The agency stopped offering MCCs and has not issued one since December 31, 2020. Some city and county agencies may still operate their own MCC programs.

Florida First-Time Homebuyer Programs in 2026: Assistance and Low-Down Payment Options