Make homeownership more affordable with fixed-rate mortgages, flexible loan options, and valuable down payment help designed for first-time buyers and veterans across Florida.
Verify Your Florida Bond Loan Program Eligibility
The Florida Bond Loan Program, offered through the Florida Housing Finance Corporation, provides affordable first mortgage options and paired second mortgage assistance to help first-time homebuyers and qualified veterans achieve homeownership.
Borrowers can choose between FHA, VA, USDA, Fannie Mae HFA Preferred, or Freddie Mac HFA Advantage 30-year fixed-rate mortgages.
The program also offers two types of down payment assistance loans: the FL Assist and the FL Homeownership Loan Program (HLP).
Eligibility is based on income, purchase price limits, and first-time homebuyer status unless exempt.
This program is designed to reduce upfront costs while ensuring long-term affordability for Florida residents.
The Florida Bond Loan Program offers two powerful second mortgage options to make homeownership more affordable: FL Assist and the Florida Homeownership Loan Program (HLP).
FL Assist provides $10,000 in down payment and closing cost assistance at 0% interest with no monthly payments.
Repayment is deferred until you sell, refinance, transfer, or stop living in the home as your primary residence.
While not forgivable, this option is ideal for buyers who want upfront help without adding to their monthly mortgage payment.
The HLP offers $12,500 in assistance as a fully amortizing second mortgage with a low 3% interest rate and a 30-year term.
Borrowers make a small monthly payment, and the balance becomes due if the home is sold, refinanced, or no longer occupied.
This program works well for buyers who can handle a modest payment in exchange for greater assistance upfront.
The Florida Bond Loan Program is designed to make homeownership more affordable with flexible mortgage options and valuable assistance for qualified buyers.
Generous down payment and closing cost assistance with two options - FL Assist: $10,000 at 0% interest, deferred with no monthly payments and Florida HLP: $12,500 at 3% interest, fully amortizing with affordable monthly payments.
30-year fixed-rate mortgages that ensure stable, predictable monthly payments.
Multiple loan choices, including FHA, USDA-RD, VA, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage.
Reduced mortgage insurance costs for borrowers earning at or below 80% of the Area Median Income (AMI).
No prepayment penalties, allowing borrowers to pay off their loans early without extra fees.
Exemption from Florida’s Documentary Stamp and Intangible Taxes on first and second mortgages.
With these benefits, the Florida Bond Loan Program offers both upfront financial relief and long-term affordability for homebuyers across the state.
To qualify for the Florida Bond Loan Program, borrowers must meet specific guidelines on income, home purchase price, and homebuyer status.
First-time homebuyer requirement: Must not have owned a primary residence in the past 3 years (unless purchasing in a Federally Designated Target Area or qualifying under the Veteran’s Exemption).
Income limits: Total household income, including all occupants age 18+, must fall within county-specific limits.
Purchase price limits: The home’s price must not exceed maximum limits set by Florida Housing for the county of purchase.
Credit requirements: Minimum FICO score of 640 for automated approvals; 660 required for manual underwrites.
Debt-to-income (DTI) ratio: Up to 50% with automated underwriting and 43% with manual underwriting.
Occupancy: The property must be the borrower’s primary residence and occupied within 60 days of closing.
Homebuyer education: At least one borrower must complete a HUD-approved pre-purchase homebuyer education course.
Eligible property types: Single-family homes, townhomes, condos, 2–4 unit properties (if one unit is owner-occupied), and manufactured homes (with restrictions).
Meeting these requirements ensures that homebuyers can take full advantage of the program’s affordable loan options and down payment assistance.
To qualify for the Florida Bond Loan Program, homebuyers must stay within set income and purchase price limits that vary by county. These limits ensure the program helps low-to-moderate income families achieve homeownership.
Most counties have household income caps ranging from $95,300 to $156,360, depending on household size, whether the home is in a targeted area, and the second mortgage option chosen (FL Assist or HLP).
Generally, homes must be priced under $544,232 in non-targeted areas and under $665,173 in targeted areas. Certain high-cost counties such as Miami-Dade and Monroe have higher purchase price caps, up to $1.2 million.
Buyers in federally designated targeted areas benefit from higher income and purchase price limits and are exempt from the first-time homebuyer requirement.
Larger households may qualify for higher income limits.
Limits apply whether you choose FHA, VA, USDA-RD, or Conventional Bond loan options.
Getting started with the Florida Bond Loan Program is simple, and the first step is checking your eligibility online for free.
Check your eligibility online today — free. See if you qualify based on income, purchase price, and first-time homebuyer status.
Complete a homebuyer education course. At least one borrower must finish a HUD-approved course before applying.
Get pre-approved with a participating lender. Your lender will review your financials, collect documents, and guide you through the application.
Sign a purchase contract and finalize your loan application. Your lender will provide program disclosures and reserve your loan.
Close on your home with down payment assistance included. Once approved, your loan closes, assistance is applied, and you move into your new home.
Here are the most-asked questions (and fast answers) about Florida’s Bond Loan Program covering down payment assistance, eligibility, credit, property types, and the little “gotchas” people don’t want to miss.
Borrowers can choose from FHA, USDA-RD, VA, Fannie Mae HFA Preferred, or Freddie Mac HFA Advantage 30-year fixed-rate loans. Conventional options may include reduced mortgage insurance if income is at or below 80% AMI.
FL Assist provides $10,000 at 0% interest with no monthly payment, while FL HLP offers $12,500 at 3% interest with a small monthly payment. Both options must be paired with a Bond first mortgage.
Neither option is forgivable. Repayment is due if the home is sold, refinanced, transferred, or no longer your primary residence.
Yes, unless you are a veteran discharged under honorable conditions or buying in a federally designated Targeted Area. Active-duty military are not exempt.
Household income includes everyone 18 and older, and the home price must fall under county-specific limits.
The minimum credit score is 640, or 660 for manual underwriting. Maximum DTI is 50% with automated approval and 43% with manual underwriting.
Eligible homes include single-family, condos, townhomes, 2–4 unit properties (if you live in one unit), and manufactured homes that meet agency rules.
Possibly, if you sell within 9 years, make a profit, and your income has risen above federal limits at the time of sale.
Yes, one borrower must complete a pre-purchase education course approved by HUD or industry standards. Veterans may be exempt unless using a conventional option.
First and second mortgages are exempt from Florida’s stamp and intangible taxes. There is no Mortgage Credit Certificate, and participation is limited to one-time use per borrower.
Buying your first home is a big step, and our team makes navigating the Florida Bond Loan Program simple.
We’ll walk you through eligibility, homebuyer education, and securing down payment assistance so you don’t miss out on the benefits you qualify for.
With deep experience in Florida’s housing programs, we know how to maximize your options and streamline the process.
From choosing the right mortgage to closing with confidence, we make sure you get the most out of every opportunity.
