See programs you qualify for

By Tyler Thompson · Licensed Real Estate Agent · Updated March 24, 2026

Homebuyer Programs in Cape Coral, FL (2026)

Population: 217,000 | Median home price: $375,000 | Est. closing costs: $7,500 - $11,500

Cape Coral is one of the largest cities in Southwest Florida, located in Lee County along the Gulf Coast, with a median home price around $375,000. First-time homebuyers here can access one of the most generous local assistance programs in the region: the City of Cape Coral SHIP Purchase Assistance Program offers up to $75,000 as a zero-interest deferred loan that is fully forgiven after 7 years. The Lee County HOME Down Payment Assistance Program adds up to $34,000 in forgivable assistance, and the Lee County Housing Finance Authority FirstPlus Program provides an additional $10,000 as a zero-interest deferred loan. At the state level, the Florida Hometown Heroes Housing Program offers up to $35,000. By combining city, county, state, and federal programs, Cape Coral buyers can potentially stack well over $100,000 in total homebuyer assistance.

City Programs in Cape Coral

Program Name	Type	Amount	First-Time Only	Details
City of Cape Coral SHIP Purchase Assistance Program	Forgivable Loan	Up to $75,000	Yes	View →

City of Cape Coral SHIP Purchase Assistance Program

Type:: Forgivable Loan
Amount:: Up to $75,000
First-time only:: Yes

County Programs in Lee County

Program Name	Type	Amount	First-Time Only	Details
Lee County HOME Down Payment Assistance Program	Forgivable Loan	Up to $34,000 (10% of purchase price)	Yes	View →
Lee County Housing Finance Authority FirstPlus Program	Deferred Loan	Up to $10,000	Yes	View →

Lee County HOME Down Payment Assistance Program

Type:: Forgivable Loan
Amount:: Up to $34,000 (10% of purchase price)
First-time only:: Yes

Lee County Housing Finance Authority FirstPlus Program

Type:: Deferred Loan
Amount:: Up to $10,000
First-time only:: Yes

State Programs in Florida

Program Name	Type	Amount	First-Time Only	Details
FHLBA Community Partners Product	Forgivable Loan	Up to $20,000 in home purchase assistance for down payment and closing costs	No	View →
FHLBA First Time Homebuyer Product	Forgivable Loan	Up to $17,500 in home purchase assistance for down payment and closing costs	Yes	View →
FHLBA Workforce Housing Plus+	Grant	Up to $15,000 in home purchase assistance for down payment and closing costs	No	View →
Florida Assist (FL Assist) Second Mortgage Program	Deferred Loan	Up to $10,000	Yes	View →
Florida HFA Preferred and Advantage PLUS Program	Forgivable Loan	3%, 4%, or 5% of the total first mortgage loan amount (HFA Advantage PLUS TBA, Freddie Mac first mortgage only)	Yes	View →
Florida Hometown Heroes Housing Program	Deferred Loan	Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000	Yes	View →

FHLBA Community Partners Product

Type:: Forgivable Loan
Amount:: Up to $20,000 in home purchase assistance for down payment and closing costs
First-time only:: No

FHLBA First Time Homebuyer Product

Type:: Forgivable Loan
Amount:: Up to $17,500 in home purchase assistance for down payment and closing costs
First-time only:: Yes

FHLBA Workforce Housing Plus+

Type:: Grant
Amount:: Up to $15,000 in home purchase assistance for down payment and closing costs
First-time only:: No

Florida Assist (FL Assist) Second Mortgage Program

Type:: Deferred Loan
Amount:: Up to $10,000
First-time only:: Yes

Florida HFA Preferred and Advantage PLUS Program

Type:: Forgivable Loan
Amount:: 3%, 4%, or 5% of the total first mortgage loan amount (HFA Advantage PLUS TBA, Freddie Mac first mortgage only)
First-time only:: Yes

Florida Hometown Heroes Housing Program

Type:: Deferred Loan
Amount:: Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000
First-time only:: Yes

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
Habitat for Humanity of Lee and Hendry Counties Homeownership Program	Zero-Interest Loan	Affordable mortgage with no down payment required	No	View →

Habitat for Humanity of Lee and Hendry Counties Homeownership Program

Type:: Zero-Interest Loan
Amount:: Affordable mortgage with no down payment required
First-time only:: No

Free eligibility check

17 programs available in Cape Coral. See which ones you qualify for.

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How to Apply

Step 1: Check your eligibility. Most programs require first-time homebuyer status (no homeownership in the past 3 years). The City of Cape Coral SHIP program requires household income at or below 120% of Area Median Income. The Lee County HOME program has lower income limits of approximately $57,250 for a one-person household and $81,750 for a four-person household.

Step 2: Complete homebuyer education. A HUD-approved homebuyer education course is required for most programs. Contact the Lee County Housing Finance Authority or visit hfaleeco.org for approved course providers in the Cape Coral area.

Step 3: Contact local housing partners. For the city SHIP program, email housing@capecoral.gov at the City of Cape Coral Housing and Grants Division. For the Lee County HOME program, contact Lee County Human and Veteran Services. For the FirstPlus program, visit hfaleeco.org for approved lenders.

Step 4: Get pre-approved for a mortgage. Work with a participating lender approved for the programs you are applying to. The FirstPlus program requires a minimum 640 credit score and a maximum 45% debt-to-income ratio. FHA, VA, and USDA loans are compatible with most programs.

Step 5: Find a home within program guidelines. The city SHIP program requires purchasing within Cape Coral city limits. The Lee County HOME program has a maximum purchase price of $340,000 and only covers existing homes (not new construction). The FirstPlus program covers all of Lee County.

Step 6: Submit your application and close on your home. The city SHIP program is applied for through an approved lender and funds are distributed on a first-come, first-served basis. The FirstPlus program is continuously funded. Check current availability for all programs before applying.

Frequently Asked Questions

How much down payment assistance can I get in Cape Coral?+

Cape Coral buyers can access substantial assistance by combining programs. The City of Cape Coral SHIP Purchase Assistance Program offers up to $75,000 as a zero-interest forgivable loan. The Lee County HOME Down Payment Assistance Program provides up to $34,000 (10% of purchase price, max $340,000 home). The Lee County Housing Finance Authority FirstPlus Program adds up to $10,000 as a zero-interest deferred loan. At the state level, the Florida Hometown Heroes Housing Program offers up to $35,000, the Florida HFA Preferred and Advantage PLUS Program provides 3% to 5% of the loan amount as a grant, and Florida Assist adds up to $10,000.

Do I have to be a first-time homebuyer to qualify?+

Most programs in Cape Coral require first-time homebuyer status, meaning you have not owned a home in the past three years. The City of Cape Coral SHIP program, Lee County HOME program, and Lee County FirstPlus program all require first-time buyer status. However, the Habitat for Humanity of Lee and Hendry Counties program does not require first-time buyer status, and veterans may qualify for exceptions under some programs.

What is the maximum home price I can buy with assistance?+

The Lee County HOME Down Payment Assistance Program has the most restrictive limit at $340,000 maximum purchase price, and it only applies to existing homes. The City of Cape Coral SHIP program and the Lee County FirstPlus program do not have specific purchase price limits, but you must meet standard mortgage qualification requirements. With a median home price of $375,000 in Cape Coral, the HOME program may require targeting homes below the median.

What homebuyer education is required?+

A HUD-approved homebuyer education course is required for most programs in the Cape Coral area. The Lee County Housing Finance Authority website at hfaleeco.org can help connect you with approved course providers. Habitat for Humanity of Lee and Hendry Counties also offers homeownership classes on budgeting and home maintenance for their program participants.

How long do I have to stay in the home to keep the assistance?+

Forgiveness periods vary by program. The City of Cape Coral SHIP program is fully forgiven after 7 years of owner-occupancy. The Lee County HOME program is forgiven over 10 years, reducing by 10% each year. The Lee County FirstPlus program is a 30-year deferred loan due upon sale, refinance, or transfer. If you sell or refinance before the forgiveness period ends, you must repay the remaining balance.