Down payment assistance · Florida
Florida Homeownership Loan Program
Florida Housing's second mortgage that you actually pay down. A modest monthly payment instead of a lump sum due at sale, which some buyers prefer and some lenders' guidelines require.
What is the Florida Homeownership Loan Program?
The Florida Homeownership Loan Program, or FL HLP, is a second mortgage from Florida Housing for down payment and closing costs. Unlike Florida Assist, it carries a low fixed interest rate and a monthly payment over a 15-year term, with any remaining balance due when you sell, refinance or transfer the home. It pairs with a Florida Housing first mortgage.
Why choose a paying second
Because the monthly payment is small and the balance actually declines. A buyer who expects to stay for years may prefer to chip away at it rather than face the whole amount at sale. The payment is counted in your debt-to-income ratio, so it slightly reduces what the first mortgage can be.
The structure
A fixed-rate, fully amortizing second lien over 15 years. If you sell or refinance before it is paid off, the remaining balance is due. Combined with an FHA, VA, USDA or HFA conventional first mortgage under the Florida Housing program, with the same income and purchase-price limits.
Next step
Find out if this fits your file
Five minutes, no credit pull to start, and a straight answer from a licensed loan officer.
Straight answers
Frequently asked
What is the difference between Florida Assist and the Florida Homeownership Loan Program?
Both are Florida Housing second mortgages for down payment and closing costs. Florida Assist is deferred at 0 percent with no monthly payment, due in full at sale or refinance. The Homeownership Loan Program carries a low fixed rate and a monthly payment over 15 years, so the balance falls over time. Which is cheaper depends on how long you stay.
Does the FL HLP payment count against my debt-to-income ratio?
Yes. Because it is a real monthly payment, lenders include it in your debt-to-income calculation, which slightly reduces the first mortgage you can qualify for. The payment is small, so the effect is usually modest, but it is real and we account for it.
Can I pay off the Florida Homeownership Loan early?
Yes. It is a standard amortizing second mortgage and may be prepaid without penalty. Any balance remaining when you sell or refinance the first mortgage becomes due at that point.
Often compared with
Related programs
Down payment assistance
Florida Assist
Florida Assist is a second mortgage from Florida Housing Finance Corporation that provides down payment and closing co…
Read moreDown payment assistance
Florida Hometown Heroes
Florida Hometown Heroes provides 5% of your first mortgage loan amount toward the down payment and closing costs — a m…
Read moreDown payment assistance
HFA Preferred / Advantage PLUS
HFA Preferred PLUS and HFA Advantage PLUS are Florida Housing programs that pair a conventional first mortgage — Fanni…
Read moreTell us the obstacle. We'll tell you if this removes it.
A licensed Florida loan officer, on the phone, with a straight answer either way.