Down Payment Assistance

Coming up with the cash for a down payment or closing costs on a house may seem challenging, but there are programs that can help make homeownership more affordable.

These programs are subject to fund availability, income requirements, terms and conditions.

Freddie Mac Home Possible® Mortgage

Offers more options and credit flexibilities than ever before to help your very low-to low-income borrowers attain the dream of owning a home

Fannie Mae’s HomeReady® Mortgage

An affordable loan designed to help buyers with diverse financial needs own a home with a three percent down payment

First-time Homebuyer Program

Up to $5,000 may only be made available to a “first-time homebuyer,” as such term is defined by HUD HOC reference guide chapter 3, to use for down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit

Community Partners Program

Up to $7,500 may only be made available to current or retired law enforcement officers, educators, firefighters, other first responders, and health care workers, to use for down payment, closing costs, and principal reduction for the purchase or purchase/rehabilitation of an existing unit

SHIP Program

Florida Housing’s State Housing Initiatives Partnership program (SHIP) funds will provide down payment and closing cost assistance up to $10,000, which is offered in the form of a forgivable loan

COPHIP Program

The City of Pensacola has established the Housing Incentive Program, designed to assist low to moderate income families obtain affordable housing by providing up to $15,000 in down payment and closing cost assistance, which is offered in the form of a forgivable loan.

Wondering if you qualify for assistance? Contact us.