Florida HFA Preferred and Advantage PLUS Program
Funding status: Active
How much assistance
3%, 4%, or 5% of the first mortgage loan amount (Forgivable Loan)
Zero-interest second mortgage forgiven at 20% per year over 5 years. Fully forgiven after 5 years of owner-occupancy. If sold, refinanced, or vacated before 5 years, remaining balance must be repaid.
Eligibility
- Income limits: Varies by county based on HUD AMI guidelines. Typically ranges from $115,000 to $150,000+ depending on county and household size.
- First-time buyer required: Yes — Must not have owned a primary residence in the past 3 years. Exceptions for veterans and purchases in federally designated targeted areas.
- Credit score minimum: 640
- Geographic restrictions: Property must be in Florida and used as primary residence.
- Homebuyer education required: Yes
How to Apply for Florida HFA Preferred and Advantage PLUS Program
Step 1: Work with a Florida Housing-approved lender. The DPA is paired with an HFA Preferred or HFA Advantage first mortgage (30-year fixed rate). Complete homebuyer education before closing.
Notes
Available with FHA, VA, USDA, and conventional first mortgages through participating lenders. No monthly payments required on the second mortgage.