Down Payment Assistance Programs

Down Payment Assistance Programs









Flexible Loan Solutions

Unlock the Door to Your Dream Home

First Federal Bank’s down payment assistance programs are designed to help make homeownership more accessible, especially for first-time buyers. These programs offer financial support in the form of grants, low-interest loans, or forgivable loans to help cover the initial down payment. By easing the upfront financial burden, First Federal Bank empowers individuals and families to take the first step toward owning their dream home. With tailored eligibility criteria, including income limits and location-specific guidelines, First Federal Bank is committed to helping more people achieve the goal of homeownership.


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Down Payment Programs

Florida Assist

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL Assist Second Mortgage Program. The FL Assist1 offers the following:
 
  • Up to $10,000 with a Conventional, FHA, or VA Loan
  • 0%, deferred second mortgage

Florida Homeownership Loan Program

Borrowers purchasing in the county selected may also be eligible to receive down payment assistance (DPA) through the FL HLP Second Mortgage Program2. The FL HLP offers the following:
 
  • Up to $10,000
  • 3% fully-amortizing, second mortgage
  • 15-year term

No Downpayment: 100% Financing FHA Loan

 
  • 96.5 first lien with a 3.5% second lien with amortizing payment
  • No geographic restrictions, income limits, or first-time buyer requirements
  • Non-occupant co-borrowers allowed

HFA Preferred Plus

Borrowers utilizing these down payments and closing cost programs receive 3%. 4% or 5% of the total loan amount, not the purchase price. Zero percent, five years deferred forgiven at 20% per year.

Hometown Heroes Loan Program

This program can provide down payment and closing cost assistance for frontline workers who are considered first-time homebuyers which is defined as someone who hasn't owned a home in the past three years (Veterans are exempt from this requirement).3 Click here for eligible occupations.

Frontline workers may receive lower than market rates including:

  • FHA, VA, USDA
  • Conventional
  • Reduced upfront fees
  • No origination points or discount points
  • Downpayment and closing cost assistance
You can use our down payment assistance with any of our first mortgage loans: VA, FHA, USDA, or Conventional. Borrowers can receive 5% of the loan amount in down payment assistance (maximum limit of $35k).


Need help?

At First Federal Bank, we are committed to building communities and ensuring access to credit for all borrowers. These products are just one way we fulfill this commitment and help borrowers achieve homeownership.

Don't let the down payment stand in the way of your homeownership dreams. Take advantage of our exclusive assistance solutions and let us help you make buying a home a reality. Contact us today to get started!

If you need help or would like to discuss your options, fill out the form below and one of our loan officers will be happy to help.

Experienced loan officers to help guide you through the loan process.

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1) The FL Assist is not forgivable. Repayment is deferred, except in the event of the sale, transfer, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor ceases to occupy the property at which time, the Florida Assist will become payable in full.
2) The FL HLP Second Mortgage carries a monthly payment. The remaining unpaid principal balance (UPB) is deferred, except in the event of the sale, transfer of deed, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor(s) ceases to occupy the property as his/her primary residence at which time, the FL HLP Second Mortgage will become payable, in full. Since the FL HLP Second Mortgage carries a monthly payment, this payment may need to be considered in a borrower’s debt-to-income (DTI) ratio when credit underwriting.
3) Eligibility Requirements: Primary Residence – The property you purchase must be your new primary residence. This means you have not owned a home in the past three years as your primary residence. You can own a mobile home, but it must be on a rented lot or land and still qualify as a first-time homebuyer. Limits-income.loan amount - You must not exceed the income and loan amount for the county you plan on buying in. Credit Qualifications: You must meet the credit requirements for the loan type you have chosen (VA, FHA, USDA, and Conventional) Home Buyer Education is required. Your loan originator will assist you on how to complete this requirement. 
 
 
Availability and eligibility are subject to county-specific programs and guidelines. Terms and conditions apply.
© First Federal Bank is an FDIC insured nationally chartered mutual savings bank approved lender. Restrictions may apply. This offer is subject to change or withdrawal at any time and without notice. Nothing herein is or should be interpreted as an obligation to lend. Loans are subject to credit and property approval. Trade/Service marks are the property of First Federal Bank.

First Federal Bank: Residential Lending Mortgage NMLS: 408902
Equal Housing Lender