Homebuyer Programs in Spring Hill, FL (2026)
Spring Hill is one of the largest unincorporated communities in Hernando County, Florida, located along the Nature Coast with a population of approximately 122,000 and a median home price around $310,000. While Spring Hill does not have its own city-funded down payment assistance since it is unincorporated, buyers here benefit from the Hernando County SHIP Purchase Assistance Program offering up to $10,500 as a zero-interest forgivable loan for first-time homebuyers earning up to 120% of the area median income. Habitat for Humanity Tampa Bay Gulfside also builds affordable homes in the area after expanding into Hernando County in 2024. At the state level, the Florida Hometown Heroes Program offers up to 5% of the loan amount and the Florida Assist program provides up to $7,500. By combining county, state, and federal programs, Spring Hill buyers can access meaningful homebuyer assistance to help make homeownership more affordable.
Top Homebuyer Programs in Spring Hill
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Hernando County SHIP Purchase Assistance Program | Forgivable Loan | Up to $10,500 | Yes | View → |
| 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 → |
| 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+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | 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 → |
| Habitat for Humanity Tampa Bay Gulfside Homeownership Program | Zero-Interest Loan | Affordable mortgage with below-market terms | 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 first mortgage loan amount | 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 → |
- Type:
- Forgivable Loan
- Amount:
- Up to $10,500
- First-time only:
- Yes
- 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
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- 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
- 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
- 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
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- 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
- Type:
- Zero-Interest Loan
- Amount:
- Affordable mortgage with below-market terms
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- 3%, 4%, or 5% of the first mortgage loan amount
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility. For the Hernando County SHIP Purchase Assistance Program, your household income must be at or below 120% of the area median income for the Tampa-St. Petersburg-Clearwater metro area, and you must be a first-time homebuyer.
- Step 2:
Complete a HUD-approved homebuyer education course. The Hernando County SHIP program requires this before you can apply.
- Step 3:
Get pre-approved for a first mortgage from a reputable lender. The Hernando County Housing Authority requires a mortgage pre-approval before accepting your application.
- Step 4:
Contact the Hernando County Housing and Supportive Services Department at 352-540-4338 to begin your application. Applications are also available online and at their office at 621 W. Jefferson Street, Brooksville, FL 34601.
- Step 5:
Find a home in the Spring Hill area within program limits. The purchase price must not exceed 90% of the average area purchase price. Eligible properties include single-family homes, condominiums, and townhomes located within Hernando County.
- Step 6:
Submit your complete application package and work with your lender to close on the home. The SHIP assistance is provided as a zero-interest deferred forgivable loan secured by a second mortgage on the property.