Lakeland's Home Purchase Assistance Program is open, with up to $40,000 for low income buyers citywide and moderate income money in the Midtown CRA.
Who can get Lakeland home purchase assistance?
The City of Lakeland Community & Economic Development Housing Office runs the Home Purchase Assistance Program for buyers up to 140% AMI purchasing inside city limits, and it is open. Low income buyers can get up to $40,000, and at least $25,000 of that must go to the down payment. Moderate income buyers can get up to $25,000. For a four-person household, the City lists 80% AMI at $69,850, 100% at $87,300 and 140% at $122,220.
Where you buy changes what is available. Citywide funding is only for households at or below 80% AMI. If you earn between 81% and 140% AMI, the money is available only for homes in the Midtown CRA district. Every buyer needs HUD-certified homebuyer education, and your lender submits the file through Neighborly. Full loan terms are in the City's Gap Program Manual, so ask the Housing Office or your lender how repayment or forgiveness works before closing. If your household earns just over 80% AMI, the Midtown CRA is the only place the City can help you, so it is worth looking at homes there before ruling the program out. Citywide buyers under 80% AMI have the widest choice of neighborhoods.
Lakeland has its own program because Polk County's Gap Financing excludes Lakeland and Winter Haven, and that county program is closed anyway. Lakeland buyers can still use Home Key Plus ($7,500 in Polk) and statewide options. Polk County Public Schools teachers and Lakeland Police or Lakeland Fire Department staff should check Florida Hometown Heroes. The Polk County guide covers income and price limits countywide.
Up to $40,000 low income ($25,000 must go to down payment); up to $25,000 moderate
Who it's for
Buyers up to 140% AMI purchasing in Lakeland city limits
Income cap
80% AMI $69,850; 100% $87,300; 140% $122,220 (4 persons)
Also note
HUD-certified education; lender submits via Neighborly
Citywide funding available only for ≤80% AMI; 81-140% AMI funds available only in the Midtown CRA district. Terms are in the City's Gap Program Manual (not parsed).
Buyers in Lakeland also have 3 statewide programs to draw on, Florida Hometown Heroes Housing Program among them. Browse every Florida program or let the program search narrow it down.
Nearly every down payment program makes you finish a homebuyer class before closing. These HUD-approved agencies around Polk County teach one or offer one-on-one counseling before you buy.
Agency
Based in
How far
What they offer
Languages
How they meet
Housing and Neighborhood Development Services of Central Florida, Inc.
From HUD's list of housing counseling agencies. A given program may accept only certain classes.
Which class counts for you? Your loan officer knows which courses each Florida program accepts and can start your pre-approval in the same conversation. Start with the 2-minute check
Lakeland, asked and answered
How much is Lakeland down payment assistance?
Up to $40,000 for low income buyers ($25,000 must go to the down payment) and up to $25,000 for moderate income buyers.
Can moderate income buyers use Lakeland's program anywhere in the city?
No. Funds for 81-140% AMI are available only in the Midtown CRA district; citywide money is for buyers at or below 80% AMI.
Can Lakeland buyers use Polk County Gap Financing?
No. Polk County's program excludes Lakeland and Winter Haven, and it is closed right now.
LisaAnswering Florida buyers today
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