Down Payment Assistance
National Programs (Available in Florida)
1. The Chenoa Fund
- Up to 5% of loan amount
- Credit scores as low as 600
- Options: forgivable after 3 years or 30-year repayable
- www.chenoafund.org
2. Bank of America America's Home Grant
- Up to $15,000 grant
- Must complete homebuyer education
- No repayment if you live in home 3+ years
- Bank of America Home Grant
3. National Homebuyers Fund
- Up to 5% as forgivable second mortgage
- Income limits apply (typically 80% AMI)
- Homebuyer education required
- nationalhomebuyersfund.com
4. Chase Homebuyer Grant
- $2,500–$7,500 grant
- Available for Chase conventional, FHA, or VA loans
- No repayment required
- Chase Homebuyer Grant
5. FHA Within Reach
- Combines FHA loans with DPA
- Credit scores as low as 580
- 3.5% down (can be covered by DPA)
- HUD.gov Loans
Florida State Programs
Florida Housing Finance Corporation
- HFA Advantage: 30-year fixed + up to $15,000 DPA
- HFA Preferred: For higher-income buyers
- Florida Assist: 0% interest, deferred repayment second mortgage
- FloridaHousing.org
Next Steps
- Review the programs above and note which ones interest you.
- Contact your lender and ask if they participate in these programs.
- Complete homebuyer education if required (many programs require this).
- Let me know which programs you want to pursue.
Important Notes:
- Funding is limited: Some programs operate on a first-come, first-served basis.
- Income limits apply: Most programs have maximum household income caps (typically 80–120% of area median income).
- Credit score minimums: Usually 620–680, depending on the program.
- Primary residence only: These programs do not apply to investment properties or second homes.
If you have questions or need help connecting with a lender who works with these programs, let me know.
Michael Ruff
New Construction Specialist
Florida and Coastal Georgia
Request Buyer Representation