St. Petersburg Housing Down Payment Assistance (SHIP and CRA)
St. Petersburg helps first-time buyers up to 140% of area median income with 20% of the sales price plus $5,000 toward closing costs, up to $75,000. Status: the SHIP version is closed to new applications because funding is limited; the South St. Petersburg CRA version is open.
Housing Down Payment Assistance Program (SHIP) and CRA DPA
Waitlist only
City of St. Petersburg
Amount
20% of sales price plus $5,000 closing costs, up to $75,000
Kind of help
Forgivable second loan
Who it's for
First-time buyers inside city limits up to 140% AMI
Income cap
Up to 140% AMI (81-140% funding limited)
Price cap
$544,233
First-timers only
Yes
Also note
1% of price contribution; HUD-approved class; home inspection; homestead exemption; lender applies via Neighborly
Page: SHIP DPA closed to new applications due to limited funding; the CRA (South St. Petersburg CRA) DPA program is open. ≤80% AMI loans forgiven after 10 years. Priority to ≤80% AMI, special needs, and essential services personnel.
Want a heads-up? Housing Down Payment Assistance Program (SHIP) and CRA DPA is running a waitlist. We'll tell you when fresh money arrives.
Which version is available?
The City runs one program with two funding sources. SHIP covers the whole city but is not taking new applicants. The CRA version is funded by the South St. Petersburg Community Redevelopment Area and only covers homes inside that boundary, so the address decides whether you can apply today. When SHIP reopens, priority goes to households at or below 80% AMI, people with special needs and essential services personnel such as teachers and first responders.
How the assistance is calculated
You receive 20% of the purchase price plus $5,000 for closing costs, capped at $75,000 total. As an illustration only, a $300,000 home would produce $60,000 plus $5,000 = $65,000. The loan is forgivable; for buyers at or below 80% AMI it is forgiven after 10 years. Funding for buyers between 81% and 140% AMI is limited.
Who qualifies?
First-time buyers purchasing inside St. Petersburg city limits.
Income up to 140% AMI.
Price at or below $544,233.
A contribution of 1% of the price, a HUD-approved class, a home inspection and a homestead exemption after closing.
With Hometown Heroes, and how to apply
Hometown Heroes permits other agencies' stand-alone DPA in third position; a participating lender confirms whether the City accepts it. Buyers elsewhere in the county can look at Pinellas County's program, which excludes St. Pete.
Check whether the home is in the South St. Petersburg CRA.
Take a HUD-approved homebuyer class.
Work with a lender that submits through the City's Neighborly portal.
File for homestead exemption after you move in.
If SHIP reopens while you are shopping, being ready helps: keep your class certificate current, have your 1% contribution set aside and stay in touch with a lender already using the City portal.
Who benefits most
Because the award scales with price, a home needs to be priced at $350,000 or more to reach the full $75,000 (20% plus $5,000); lower-priced homes get proportionally less. Buyers at or below 80% AMI also get the shortest path to forgiveness at 10 years. Essential services personnel get priority when SHIP funds return, so teachers, nurses and first responders should ask to be notified.
Our summary of the official program page as of November 2026. Funding and terms change; get the current version from the program or a participating lender. Florida Down Payment Assistance has no tie to this program.
Saved. Watch your phone and inbox.
When this program restarts, you'll be among the first to know. Meanwhile, want to see what's open today?
Hi, I'm Lisa. See if you're eligible for down payment assistance in Florida. I'll walk you through six quick questions, and you'll see your result before you leave the page.
