Florida DPA + FHA Loan: How the Pairing Works
Most first-time Florida buyers pair down payment assistance with an FHA loan. FHA needs 3.5% down, and Florida Housing assistance can cover it. Here is how the two fit together.
Why FHA is the common Florida pairing
FHA is the workhorse loan for first-time Florida buyers, because it allows a 3.5% down payment and is more forgiving on credit than conventional financing. Florida Housing is built to sit on top of an FHA first mortgage, so whichever assistance you choose covers that 3.5% down payment and much of the closing costs. A buyer with a 640 score can get into a Jacksonville, Tampa, or Orlando home without draining savings.
How the FHA loan and the DPA second stack
Two loans work together. The FHA first mortgage is your primary loan, with its usual mortgage insurance. The Florida Housing second funds the down payment and closing costs, and it adds no monthly payment. Choose FL PLUS and it is forgiven over five years; choose FL Assist and it is repaid when you sell or refinance; choose Hometown Heroes for the largest amount. The FHA loan behaves like any FHA loan.
Who this fits
The FHA pairing fits most first-time Florida buyers, especially in the more affordable metros where the assistance covers the full down payment. If you work for a Florida employer, check Hometown Heroes for the largest help. Veterans should compare the VA pairing, which needs no down payment at all.
Program facts verified August 2026 against Florida Housing and HUD FHA guidance. This is not a commitment to lend. Related: DPA + VA · County limits.
Common questions
Can Florida down payment assistance cover an FHA down payment?
Yes. FHA requires a 3.5% minimum down payment, and Florida Housing assistance (FL Assist, FL PLUS, or Hometown Heroes) can cover that plus most closing costs. It is a 0% deferred second with no monthly payment.
What credit score do I need for an FHA loan with Florida Housing?
Florida Housing requires a 640 minimum credit score, or 660 for manual underwriting. The assistance pairs with FHA, VA, USDA, or conventional first mortgages.
Do I make a payment on the Florida DPA second with an FHA loan?
No monthly payment. The Florida Housing second adds no monthly payment. FL PLUS is forgiven over 5 years; FL Assist and Hometown Heroes are repaid when you sell, refinance, or pay off the FHA loan.
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