Down Payment and Closing Cost Assistance

Are you wanting to purchase your dream home in the Pinellas - Hillsborough or Pasco county area, but you have limited funds for a down payment we can help you?. The county and the city offer the down payment assistance program with an FHA government-insured loan, giving your family the opportunity to become homeowners.

If you currently own a home you can still use the program in the Pinellas County (as long your previous property is rented).

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We can help you get your dream home! We help you get the following:

(1) Down Payment Assistance Program from your county or city that will help you purchase your home with very little down payment.

(2) We also provide you with the FHA or conventional financing for the home.

(3) We will recommend an experienced real estate agent in down payment assistance properties, to help you find your dream home.

In the event your credit scores are too low - we help you fix your credit - free of charge for our clients.

We offer 2 ways you can purchase a home with almost no money out of pocket, using:

(1) County or City Down Payment requires $1,000 or 1% or 2% from your pocket depending on the property location and down payment program

(2) 3.5% FHA Loan and requesting 6% seller concessions, requires 3.5% from your pocket the property can be anywhere in Florida.

Credit repair: we dont charge for the service, you only pay $25 for your credit report.
Step 1: Pull Credit Report Step 2: What to do

Apply for a secured credit card to help you build your credit history or increse your scores!
View

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + The day of closing $39.48

Milan Quesada

Saint Petersburg, FL 33714

down payment assistance saint petersburg

Escrow/Deposit $400 + Inspection $300 + Appraisal $485 + The day of closing $14.41

Loret de Mola

Saint Petersburg, FL 33713

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + Appraisal re-inspection $150 + The day of closing $17.57

Holder

Kenneth City, FL 33709

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + The day of closing $35.00

Gonzales

Saint Petersburg, FL 33709

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + The day of closing $257.38

Gregory

Saint Petersburg, FL 33709

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + The day of closing $75

Mulet

Saint Petersburg, FL

Escrow/Deposit $500 + Inspection $300 + Appraisal $485 + The day of closing $295.28

Neal

Saint Petersburg, FL 33711

Escrow/Deposit $1000 + Inspection $300 + Appraisal $485 + The day of closing $276.79

Sotolongo

Kenneth City, FL 33709

Step 1 - Check Income Limits:

GREAT NEWS!

All home buyers may qualify for some type of down payment assistance federal, county or city!

We offer different down payment programs; City DPA (requires 1% down), County DPA (requires 2% down) and Federal FHA (requires 3.5% down). This website is sponsored by Generation Mortgage your down payment assistance experts.

Step 2 - FHA Requirements:

-Min Medium Credit Score 640+
-Collections no more than $2000 (medical don't matter)
-No judgement or lawsuit or middle of divorce
-2 years employment W2 (no gaps)
if Self Employed 2 yrs tax returns
-No DISPUTES in your credit report
-$1,500 Cash out of pocket (estimate depends on the City)
-No Bankruptcy in the past 2 years, No Foreclosures or Short sales in the past 3 years
-No Late Payments on your rental (copy of past 12 checks)
-3 open accounts in credit report (1+ year history)
-No NSF in bank account (past 2 months)

Step 3 - Pull Credit Report:

You don't need to have perfect credit! The Down Payment Assistance Program requires a minimim of 640+ mid score. In case you have lower scores, we will help you repair your credit and increase your scores.

Pull Credit Report

Don't forget to pull credit report, without this we can't process your application.

Step 4 - Apply Online:

It's time to complete the online application and provide your name SS number, DOB, income, employer name, etc. Click the button below and complete all required fields marked with a red *

or apply in-person at our offices 1155 Pasadena Ave S, Suite H, South Pasadena, FL 33707 call for an appointment 727-642-1166.

Apply Online Now

Step 5 - Proof of income:

Send us a text message with a picture of your paystub and 2020 W2 @ 727-642-1166 for income verification (or fax it to 727-490-2938)

Online Pre-Qualification for Down Payment Assistance & FHA/Conventional Mortgage Loan

Where would you like to live:

Select the area where you want to buy a house

Number of people living in household:

The total number of people living in the house

Total Household Yearly Income:

Total income for the entire household [include disability, child support, etc]

Loan Applicant Total Monthly Income:

Amount of total income receive by the borrower (and co-borrower)

Monthly Credit Card(s) Payment :

The total of the minimum credit card monthly payments

Monthly Car(s) Payment Payment :

Monthly Alimony (if you pay) :

Monthly Child Support (if you pay) :

Student Loans 1% (of balance) :

If you have student loans enter 1% of the total current balance

Income calculated based on TOTAL HOUSEHOLD INCOME, not just the loan applicant. (including child support, disability and any income that you may receive and/or be reflected in your bank statements). Household consists of all the people who will be living in the same home.

To be pre-approve submit application (step 3), send proof of income (step 4) and pull your credit report (step 5).

	0	1	2	3	4	7	7.2	7.3
Coverage	Pinellas County	City of Saint Petersburg Tax Code SP	CRA Saint Petersburg Tax Code SP	City of Clearwater Tax Code CW	City of Largo Tax Code LA	Pasco County	Pasco County	Pasco County
Median Family Income (MFI)	80%	80%	120%	80%	80%	50%	80%	120%
You Get (up to)	Up to $40,000 (only to cover the gap of down payment and closing cost)	10% for down payment + $4,000 Closing Cost (up to $20,000)	$10,000	$20,000	$25,000	$25,000	$15,000	$5,000
Minimum Out Of Pocket	$1,000	1% of purchase price	1% of purchase price	1% of purchase price	$1,500	$1,500	$1,500	$1,500
Does the program have funds available?	Reopen 10/1/2019	Yes	Yes	Yes	Yes	Out of funds	Out of funds	Out of funds
Property Type	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes	Single Familiy Home, Townhomes
First time buyers	Will be living in new property (any other owned property must show proof is rented)	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years	Cannot have owned a home in the past 3 years
Max Purchase Price	$210,000 for existing properties and $229,000 for new constructions	$253,000	$253,000	$190,000	$190,000	$240,000	$240,000	$240,000
Repayment Terms	Monthly Payment Amortization $20,000 20 Years $83.33 and $40,000 30 Years $111.11 - after the 5th year	Monthly Payment Amortization 120 payments and the additional 120 payment are forgiven	Monthly Payment Amortization 120 payments	Monthly Payment Amortization 240 payments after the 5th year	The buyer will not be required to pay the Down Payment Assistance funds awarded as long as you own the home and occupy it as your primary residence for a full ten (10) years from the date of purchase.	Monthly Payment Amortization 120 payments after the 5th year	Monthly Payment Amortization 120 payments after the 5th year	Monthly Payment Amortization 120 payments after the 5th year
Home Education	8 hours - Classroom or Online	8 hours in classroom, not online	8 hours in classroom, not online	8 hours in classroom, not online	8 hours in classroom, not online	8 hours in classroom, not online	8 hours in classroom, not online	8 hours in classroom, not online
Flood Zone	No	Ok	Ok	Ok	No	No	No	No
Sink Holes Areas	No	No	No	No	No	No	No	No
Mid Credit Score	620+	620+	620+	620+	620+	620+	620+	620+
Max Ratio DTI	35%/45%	43%	43%	45%	45%	43%	43%	43%
Reserves	1 Month reserve
Max liquid assets	$50,000
Income Limits Household of	1 Max. $37,450 2 Max. $42,800 3 Max. $48,150 4 Max. $53,500 5 Max. $57,800 6 Max. $62,100 7 Max. $66,350 8 Max. $70,650	1 Max. $37,450 2 Max. $42,800 3 Max. $48,150 4 Max. $53,500 5 Max. $57,800 6 Max. $62,100 7 Max. $66,350 8 Max. $70,650	1 Max. $56,280 2 Max. $64,320 3 Max. $72,360 4 Max. $80,280 5 Max. $86,760 6 Max. $93,240 7 Max. $99,600 8 Max. $106,080	1 Max. $37,450 2 Max. $42,800 3 Max. $48,150 4 Max. $53,500 5 Max. $57,800 6 Max. $62,100 7 Max. $66,350 8 Max. $70,650	1 Max. $37,450 2 Max. $42,800 3 Max. $48,150 4 Max. $53,500 5 Max. $57,800 6 Max. $62,100 7 Max. $66,350 8 Max. $70,650	1 Max. $23,450 2 Max. $26,800 3 Max. $30,150 4 Max. $33,450 5 Max. $36,150 6 Max. $38,850	1 Max. $37,450 2 Max. $42,800 3 Max. $48,150 4 Max. $53,500 5 Max. $57,800 6 Max. $62,100	1 Max. $56,280 2 Max. $64,320 3 Max. $72,360 4 Max. $80,280 5 Max. $86,760 6 Max. $93,240 7 Max. $99,600 8 Max. $106,080
Requires Real Estate Agents To Take a Class?

7.2

7.3

Coverage

Pinellas County

City of Saint Petersburg
Tax Code SP

CRA Saint Petersburg
Tax Code SP

City of Clearwater
Tax Code CW

City of Largo
Tax Code LA

Pasco County

Median Family Income (MFI)

80%

120%

80%

50%

80%

120%

You Get (up to)

Up to $40,000 (only to cover the gap of down payment and closing cost)

10% for down payment + $4,000 Closing Cost (up to $20,000)

$10,000

$20,000

$25,000

$15,000

$5,000

Minimum
Out Of Pocket

$1,000

1% of purchase price

$1,500

Does the program have funds available?

Reopen 10/1/2019

Yes

Out of funds

Property Type

Single Familiy Home, Townhomes

First time buyers

Will be living in new property (any other owned property must show proof is rented)

Cannot have owned a home in the past 3 years

Max Purchase Price

$210,000 for existing properties and $229,000 for new constructions

$253,000

$190,000

$240,000

Repayment Terms

Monthly Payment Amortization $20,000 20 Years $83.33 and $40,000 30 Years $111.11 - after the 5th year

Monthly Payment Amortization 120 payments and the additional 120 payment are forgiven

Monthly Payment Amortization 120 payments

Monthly Payment Amortization 240 payments after the 5th year

The buyer will not be required to pay the Down Payment Assistance funds awarded as long as you own the home and occupy it as your primary residence for a full ten (10) years from the date of purchase.

Monthly Payment Amortization 120 payments after the 5th year

Home Education

8 hours - Classroom or Online

8 hours in classroom, not online

Flood Zone

Sink Holes Areas

Mid Credit Score

620+

Max Ratio DTI

35%/45%

43%

45%

43%

Reserves

1 Month reserve

Max liquid assets

$50,000

Income Limits
Household of

1 Max. $37,450
2 Max. $42,800
3 Max. $48,150
4 Max. $53,500
5 Max. $57,800
6 Max. $62,100
7 Max. $66,350
8 Max. $70,650

1 Max. $56,280
2 Max. $64,320
3 Max. $72,360
4 Max. $80,280
5 Max. $86,760
6 Max. $93,240
7 Max. $99,600
8 Max. $106,080

1 Max. $37,450
2 Max. $42,800
3 Max. $48,150
4 Max. $53,500
5 Max. $57,800
6 Max. $62,100
7 Max. $66,350
8 Max. $70,650

1 Max. $23,450
2 Max. $26,800
3 Max. $30,150
4 Max. $33,450
5 Max. $36,150
6 Max. $38,850

1 Max. $37,450
2 Max. $42,800
3 Max. $48,150
4 Max. $53,500
5 Max. $57,800
6 Max. $62,100

1 Max. $56,280
2 Max. $64,320
3 Max. $72,360
4 Max. $80,280
5 Max. $86,760
6 Max. $93,240
7 Max. $99,600
8 Max. $106,080

Requires Real Estate
Agents To Take a Class?

Down Payment Assistance Program

PRIDE OF HOMEOWNERSHIP

Your Options

Free Services:

Secured Credit Cards:

Testimonials!

Milan Quesada

Saint Petersburg, FL 33714

Loret de Mola

Saint Petersburg, FL 33713

Holder

Kenneth City, FL 33709

Gonzales

Saint Petersburg, FL 33709

Gregory

Saint Petersburg, FL 33709

Mulet

Saint Petersburg, FL

Neal

Saint Petersburg, FL 33711

Sotolongo

Kenneth City, FL 33709

Online Pre-Qualification for Down Payment Assistance & FHA/Conventional Mortgage Loan

You are Pre-Qualify for a Loan Amount of :

To be pre-approve submit application (step 3), send proof of income (step 4) and pull your credit report (step 5).

Down Payment Assistance Programs