| Purpose: |
The purpose of the Down Payment Assistance Program is to provide qualified first-time homebuyers a 0% interest loan to assist with purchasing a home. And to provide assistance to full time employees of the Pinellas County school system, police, fire, emergency medical service personnel, hospital workers, 911 dispatchers, assisted living facility employees, pharmacy technicians, or active duty/reserve military personnel; holding any position with these organizations. Retirees of these job classes are also eligible. |
| Type of Loan: |
0% interest, deferred loan (second or third lien). |
| Assistance Amount: |
Up to $25,000 of assistance for households earning up to 120% of the area median income. This program is only available for eligible borrowers who are receiving a Home Key First Mortgage. |
| Repayment: |
The second/third mortgage is a non-interest bearing loan with no monthly payments for five years. Repayment terms, following the five-year deferral period, range from two to thirty years depending upon the amount of the loan. |
| Income Guidelines: |
Household income must fall within income limits which are based on family size. |
| Location: |
This program is not available in all areas of Pinellas County. Lenders  should refer to their guidelines and prospective borrowers should contact a participating lender or the Housing Finance Authority at (727) 464-8210 for eligible areas. |
| Property: |
New or existing single family home, primary residence (town homes and condos acceptable). |
| Sales Price: |
Not to exceed $263,250 in Pinellas and Pasco Counties, and $243,000 in Polk County. |
| Community
Development | Housing Finance Authority