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Getting Down Payment Assistance in Tampa

January 3, 2018

Free Money!!!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Well, not exactly but almost. You see, we're very lucky in Tampa to have a number of government programs available to us to help first-time home buyers purchase a house.

 
There are down payment assistance programs available through The City of Tampa, Hillsborough County, and The State of Florida.  

 

I know what you're thinking, "Steve, why would the government be giving away money to people to buy homes?" Well, home ownership is a cornerstone of the US economy. Higher rates of home ownership has a domino effect on the economy. If there's a higher demand for homes, builders will build more homes, which creates construction jobs. Those construction workers will need to eat lunch, creating restaurant jobs. Those restaurants will need food, which creates agricultural jobs, and so on and so forth.  

 

So what are the programs available?

 

City of Tampa Mortgage Assistance Program

 

  • Designed to help low/moderate income families achieve the dream of homeownership.

  • Provides UP TO $14,999 in the form of a secondary loan

  • No payments required on this loan

  • Loan is forgiven if borrower stays in the home for a minimum of 5 years

  • Must sign up through an approved Housing Counseling Agency

  • Assistance will be granted based on funding availability and borrower's income.

  • Must attend a Homebuyer Education Class and complete application with the Housing Counseling Agency

  • Must meet income limits (see below)

If your income level meets either the LOW INCOME or MODERATE INCOME limits in the above chart, you qualify for Mortgage Assistance from the City of Tampa.  


So how do you get the funds? Simply contact one of the three approved Housing Counseling Agencies below and they'll set you up with a Homebuyer Education Class and Housing Counseling. During you're counseling session they'll help sign you up for Tampa's Mortgage Assistance Program or any other program you're eligible for.


Center for Affordable Homeownership (THA)

5301 W. Cypress St., Tampa FL 33607

(813) 341-9101 
 
Solita's House

3101 E. 7th Ave, Tampa FL 33605

(813) 425-4847 
 
Housing & Education Alliance (HEA)

9215 N. Florida Ave, Ste. 101, Tampa FL 33612

(813) 932-4663 The 

 

The folks at all of these organizations really do fantastic work. They've helped countless people achieve the dream of home ownership and are some of the hardest working, most compassionate people out there.  


Even if you exceed the income limits above, these agencies can still offer you Housing Counseling and Homebuyer Education to help you get your finances in order before purchasing. I HIGHLY recommend signing up for their programs.

 

Hillsborough County First Time Homebuyer Assistance Program

 

If you're looking for a home in the Tampa area OUTSIDE of The City of Tampa (this includes unincorporated Hillsborough County, Temple Terrace, and Plant City) you may be eligible for down payment assistance through this program.

  • Designed to help very low, low, and moderate income families achieve the dream of home ownership.

  • Provides UP TO $14,999 in the form of a secondary loan

  • No payments required on this loan

  • Loan is forgiven if borrower stays in the home for a minimum of 5 years

  • An additional $5,000 is available for certified nurses, certified teachers, certified fire fighters, certified law enforcement officers, active duty military personnel, and Veterans of Military Service

  • Assistance will be granted based on funding availability and borrower's income.

  • Must attend a Homebuyer Education Class and complete application

  • Must meet income limits  (below)

If your income falls in the very low, low, or moderate bracket on the above chart, you are eligible for Hillsborough County's First Time Homebuyer Assistance Program. Please contact one of the following counseling agencies to begin your process:

 

Corporation to Develop Communities of Tampa

1907 East Hillsborough Ave. Suite 100 Tampa, FL 33610

(813) 231-4362 
 
Housing & Education Alliance (HEA)

9215 N. Florida Ave, Ste. 101, Tampa FL 33612

(813) 932-4663 

 

State of Florida Hardest Hit Fund Down Payment Assistance

 

Whether you're looking to buy in Tampa or elsewhere in Hillsborough County, you may be eligible for the the Florida Hardest Hit Fund.​

 

  • Provides UP TO $15,000 in the form of a secondary loan  

  • No payments required on this loan

  • Loan is forgiven if borrower stays in the home for a minimum of 5 years

  • Assistance will be granted based on funding availability, applicant's income, and qualifying FICO score.

  • Must attend a Homebuyer Education Class and complete application

  • Must meet income limits  

You can check online to see if you qualify at: 


http://apps.floridahousing.org/StandAlone/FHFC_ECM/ContentPage.aspx? PAGE=0277 


Otherwise while attending Housing Counseling for The City of Tampa or Hillsborough County, your housing counselor will help you apply.

 

Other Parts of The Tampa Metro Area
 

So you can see there's several programs available to you in Tampa and Hillsborough County to help you get money toward your down payment. There are programs availble in Pinellas County, Pasco County, St. Petersburg, Clearwater and other areas in and around Tampa. Too many to list. Just shoot me a line and I'd be happy to tell you which program is best for you. 



Don't miss out on these programs. If you're eligible they can get you into a house faster than you've ever dreamed. The funding for these programs may not last forever. Call, text, or email me today and I'll help you get started.

 

Stephen Dispensa

Licensed Real Estate Sales Associate

(813) 591-0569

Steve.Dispensa@gmail.com

Real Broker, LLC.

Tampa Real Estate Secrets

 

 

 

 

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