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Buyer guide · Florida

Florida's down payment second mortgages, sorted by what you'll owe later

Hometown Heroes, Florida Assist, HFA PLUS, FL HLP, HOP and local SHIP loans each get repaid differently. What triggers repayment and what selling early would cost.

The short version: Almost all Florida down payment help comes as a second mortgage, not cash. Hometown Heroes and Florida Assist are 0% deferred loans you repay in full when you sell, refinance or move out. HFA PLUS is forgiven over five years. FL HLP has a monthly payment. Local SHIP loans are often forgiven over 10 to 30 years, and a few share in your profit if you sell early.

"Assistance" almost always means a lien

Florida's programs are generous, but very little of the money is a gift. It's recorded as a second mortgage behind your first loan, and its terms decide what happens when you sell or refinance.

That's not a reason to skip it. It's a reason to know which kind you're signing, because two buyers with the same $15,000 of help can owe very different amounts five years later.

The statewide menu

ProgramAmountStructureWhen you owe it
Hometown Heroes5% of the first mortgage, $10,000 to $35,0000%, no payments, 30-year termIn full on sale, refinance, deed transfer, payoff of the first mortgage, when it stops being your primary home, or at maturity
Florida AssistUp to $10,0000% deferred, not forgivableRepaid in full later; your lender confirms the exact triggers
HFA Preferred / Advantage PLUS3%, 4% or 5% of the loanForgivableForgiven 20% a year over five years
FL HLP second$12,5003% interest, 30 yearsMonthly payments from the start
HOP (new homes from member builders)Up to $25,000, or $35,000 for lower incomes or buyers with disabilities0% deferredPer program terms; reserved by the builder

Two rules tie these together. Hometown Heroes can't be stacked with Florida Housing's other seconds; it's one or the other. And Florida Housing programs are a one-time benefit.

Local SHIP loans: forgiveness on a timer

County and city SHIP programs are where forgiveness shows up most, with schedules all over the map:

  • City of Tampa DARE: forgiven after 20 years of owner occupancy.
  • Pinellas County: forgiven after 30 years, with full repayment if you sell earlier.
  • Osceola County: 10-year term, with 20% forgiven each year in years six through ten.
  • St. Lucie County: 10-year term, 10% forgiven each year.
  • City of Orlando: forgiven after 10 years.
  • City of Bradenton: a 0% loan with a $50 minimum monthly payment, with the rest forgiven at the end of 20 years if you're in good standing.

Shared equity: the clause to read twice

A few local programs take part of your profit if you sell early. Miami-Dade County's homebuyer assistance, up to $35,000, sends 100% of the profit to the County on a sale in years one through three, 50% in years four through six, and none after year six. The City of Miami's program has shared appreciation starting in year three that phases out by year 20.

These programs can be worth it, especially at their size. Just plan to stay.

What selling in year five looks like

Example only. Three Florida buyers each got help and sell after five years:

  • A Hometown Heroes buyer with a $320,000 first mortgage got $16,000. At the sale, the full $16,000 comes off the proceeds, with no interest added.
  • An HFA PLUS buyer with a 4% second on a $300,000 loan got $12,000. At the end of year five, it's fully forgiven.
  • A Tampa DARE buyer got $50,000. Five years in, the 20-year forgiveness hasn't been reached; DARE is a deferred silent second, so ask the City what is due on an early sale.

Nobody in that list made a bad choice. Each one traded a different kind of future obligation for help today.

Refinancing counts as a sale for most of these

Hometown Heroes' repayment triggers include a refinance. If rates drop and you want a new loan, plan on paying off the second or asking the new lender to include it. Many local programs also treat a refinance as a repayment event or require approval to subordinate their lien.

The same goes for a move. If you take a job in another county and rent the house out, it stops being your primary residence, and Hometown Heroes becomes due.

Monthly payments and your approval

Deferred seconds don't add a payment, so they don't change your debt-to-income ratio. FL HLP does. Its 3% payment over 30 years counts in your monthly debt, which matters when you're close to the 50% ratio limit on an automated approval.

Stacking more than one second

Hometown Heroes allows other agencies' stand-alone help in third position. A county SHIP loan behind Hometown Heroes is the classic Florida stack. Each layer keeps its own repayment rules, so you could owe the state second in full on a sale while the county loan is partly forgiven.

See which county programs were open in late 2026 in our SHIP guide, and check whether you're under the price caps in our TBA vs. Bond guide.

Six questions before you sign

  1. Is this a grant, a deferred loan, a forgivable loan or an amortizing loan?
  2. What events make it due: sale, refinance, rental, payoff?
  3. If forgivable, on what schedule, and what happens if I sell partway?
  4. Is there shared equity or shared appreciation?
  5. Does it add a monthly payment?
  6. Can it be combined with the other help I'm using?

Help that you understand is help you can plan around. Check your eligibility to see which of these you could use.

Questions we hear

Is Florida Hometown Heroes a grant?

No. It's a 0% interest, no-payment 30-year second mortgage that is not forgiven. You repay it in full when you sell, refinance, transfer the deed, pay off the first mortgage or stop living in the home.

Which Florida down payment programs are forgivable?

Florida Housing's HFA PLUS second is forgiven 20% a year over five years, and many county and city SHIP loans are forgiven over 10 to 30 years. Hometown Heroes and Florida Assist are not forgivable.

What happens to my down payment loan if I refinance?

Hometown Heroes is due on a refinance, and many local programs treat a refinance as a repayment event or require approval. Plan to pay it off or roll it into the new loan.

Do any Florida programs take a share of my profit?

Some local ones do. Miami-Dade County's program takes 100% of the profit on a sale in years one through three and 50% in years four through six.

Can I combine Hometown Heroes with other assistance?

Not with Florida Housing's other seconds, but other agencies' stand-alone assistance, such as a county SHIP loan, can sit in third position behind it.

Free printable: the Florida homebuyer checklist. Rules, paperwork, steps and lender questions on one sheet. Get the checklist

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