Broward County Homebuyer Purchase Assistance Program

On a $490,000 home in Hollywood, a buyer earning up to 120% AMI ($152,160 for a family of four) could receive up to $50,000 in Broward County HPA funds. The county requires 3% in non-borrowed funds, or $14,700, and at least $4,900 of that must be the buyer's own money. Applying the full $50,000 to the down payment leaves a first mortgage of about $425,300, roughly 87% of the price.

Estimated closing costs in Hollywood run $10,000 to $14,500. The seller may contribute up to 6% of the price, or $29,400, and the other 2% of the required contribution ($9,800) can come from the seller, lender, a nonprofit or a family gift. A buyer who negotiates enough seller credits could close with about $4,900 of their own money.

A buyer who also uses Florida Housing's FL Assist ($10,000, 0% deferred) would need a Florida Housing first mortgage, with HPA moving into third lien position as the county's guidelines allow. That cuts the first mortgage to about $415,300 and brings combined help to $60,000. FL Assist is repaid on sale or refinance, and Florida Housing's own income and price limits also apply.

Broward County HPA can sit in third lien position behind a Florida Housing Finance Corporation second mortgage or a municipal CRA purchase assistance loan, though HPA may not exceed the CRA loan amount. Florida Housing options include FL Assist (up to $10,000, 0% deferred, not forgiven) and HFA Preferred or Advantage PLUS (3%, 4% or 5% of the loan, forgiven 20% a year over 5 years). Both require a Florida Housing first mortgage. The county also urges lenders to pair HPA with its Mortgage Credit Certificate, worth up to $2,000 a year.

HPA cannot be combined with an entitlement city's own purchase assistance funds in the same purchase. Combined loan-to-value is capped at 105%, the first mortgage must be larger than the HPA loan, and the first mortgage alone cannot exceed 97% of the price. Broward's separate Affordable Housing Trust Fund program offers up to $100,000 for households below 120% AMI. Call the Housing and Urban Planning Division at 954-357-4943 to confirm which combinations work.

Seller concessions of up to 6% of the price can cover closing costs, and HPA funds themselves may pay closing costs, principal reductions or an interest rate buydown. Lenders can exceed the 2.5% origination cap only when the extra buys down the rate to meet Broward's debt ratios. Gift funds from family can supply 2% of the required 3% contribution.

Broward County HPA is a large purchase assistance loan by any standard, at up to $80,000 in most communities and $120,000 in Weston, compared with $10,000 from FL Assist. It charges 0% interest, requires no monthly payment, and is satisfied after 15 years as your homestead, so a long-term owner never repays it. The money can cover down payment, closing costs, principal reduction or a rate buydown. Hollywood buyers can earn up to 120% AMI, or $152,160 for four, and the program accepts conventional, FHA, VA and bond first mortgages.

The biggest limitation is funding. The August 2026 flyer shows no funds in 24 of 26 communities until new allocations expected in November 2026, and money goes out first-come, first-qualified, first-served. Selling, transferring title or moving out within 15 years triggers repayment. The $100,000 liquid asset limit, the 3% contribution and the South Florida-only education rule also trip up buyers. Buyers in Fort Lauderdale, Miramar or Pompano Beach are outside the county list and should check their city housing office, while others can look to FL Assist or HFA Preferred PLUS.