Down Payment Assistance Programs in Hillsborough County, Florida [2026]

If buying a home in Hillsborough County feels out of reach because of upfront costs, you’re not alone. The good news? There are several down payment assistance (DPA) programs designed to help make homeownership more accessible.

We’ll break down how these programs work, what’s available locally, and what buyers should know before getting started.

What Is Down Payment Assistance?

Down payment assistance programs help cover upfront homebuying costs, including:

• Down payment
• Closing costs
• Prepaid expenses (in some cases)

In Hillsborough County, most assistance is offered as a second mortgage loan, often with 0% interest and flexible repayment terms.

Main Hillsborough County DPA Programs

1. Home Sweet Home Hillsborough Program

This is one of the most commonly used programs in the area.

Key Features:

• Up to $15,000–$30,000+ in assistance (varies by program version and funding)
• Typically structured as a 0% interest second mortgage
• Can be used for down payment and closing costs
• Often deferred payments (no monthly payment required)

Important Notes:

• Must be used with an approved first mortgage loan
• Property must be your primary residence
• Homebuyer education is typically required

👉 This program is a go-to option for many first-time buyers.

2. Hillsborough HFA Down Payment Assistance (Forgivable Loan Option)

This program offers a forgivable second mortgage.

Key Features:

• Up to $15,000 in assistance
• 0% interest
• Forgiven over 5 years (20% per year)

What That Means:
If you stay in the home for 5 years, you may never have to repay the assistance.

Repayment is required if:

• You sell or refinance early
• The home is no longer your primary residence

3. Affordable Income Subsidy Grant (AIS)

This is another option offered through the county’s Housing Finance Authority.

Highlights:

• Designed for income-qualified buyers
• Helps bridge affordability gaps
• Often paired with other financing programs

👉 Availability and funding can vary, so buyers should check current program status with a lender.

City-Level Program (Tampa Only)

“Dare to Own the Dream” (DARE) Program

If you’re buying within Tampa city limits, this program is worth knowing about.

Key Features:

• Up to $50,000 in assistance
• 0% interest, deferred loan
• Potential for long-term forgiveness

⚠️ Important Update:
As of early 2026, new applications are currently on hold due to funding limits.

Statewide Programs That Work in Hillsborough County

Buyers can often combine local programs with Florida statewide assistance:

Florida Hometown Heroes Program

• Up to $10,000–$35,000 (up to 5% of loan amount)
• Designed for eligible professions (teachers, healthcare, first responders, etc.)
• Deferred second mortgage (not forgivable)

Florida Assist / HFA Programs

• Typically $10,000–$12,500+ assistance
• 0% interest or low-interest second mortgage options
• Some forgivable structures available depending on loan type

Basic Eligibility Requirements

While each program varies, most require:

• First-time homebuyer status (often defined as not owning in the last 3 years)
• Meeting income limits
• Minimum credit score (commonly around 640+)
• Property must be a primary residence
• Completion of a homebuyer education course

What Buyers Should Know

Before jumping into a DPA program, keep these in mind:

✔️ It’s Not Always “Free Money”

• Some programs are loans that must be repaid
• Others are forgivable, but only after a certain timeframe

✔️ There Are Purchase Price Limits

• Some programs cap the price of the home you can buy

✔️ Inventory Matters

• In competitive markets (like Tampa suburbs), using DPA can require:
  • Strong offers
  • Flexible timelines
  • The right lender + agent strategy

✔️ Funding Can Run Out

• Many programs are first-come, first-served
• Some (like Tampa’s DARE) may pause when funds are depleted

Down payment assistance programs in Hillsborough County can be a powerful tool for buyers, especially first-time homeowners trying to break into the market.

With options ranging from forgivable loans to deferred second mortgages, there are multiple paths to reduce upfront costs and make buying more realistic.

The key is understanding:

• Which program fits your situation
• How repayment (or forgiveness) works
• And how to structure your offer in today’s market

Thinking About Buying in Tampa Bay?

If you’re curious what you might qualify for or how to combine these programs with your home search, working with a knowledgeable local team can make all the difference.

That's us 👋 We're Eric + Katelyn Gross, local real estate agents with eXp Realty.

Send us a quick message at 513-907-4271, we'd love to help you find your dream home!

You can also search for homes and find out more on our website, www.HousesInFLA.com 🌴