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City Of Tampa Mortgage Assistance Program

The City of Tampa offers down payment assistance loans to income eligible buyers of property within the City limits of Tampa. The liens are meant to be in second position behind primary financing from an institutional lender (non-private) and are typically known as a "silent second" because of the 0% rate and $0 monthly payment. The DPL can remain "silent" as long as the property continues to be the owner's primary residence and owner occupied.

Here are the basic highlights of the City-Wide Downpayment Loan Program:
  • Potential buyer must begin process with one of three approved Housing Counseling agencies and MUST NOT be under contract before receiving a reservation number. The Counseling agency will provide education, complete application with client and collect documentation. (See below for approved agencies).

  • $14,999** Max award. Down payment: up to 20% of purchase price or $10,000, whichever is less, toward the downpayment. Closing costs: 50% of closing cost up to a maximum of $4,999, whichever is less.

  • Fully Forgivable after 5 years, assuming still owner occupied.

  • Income calculated based on HOUSEHOLD income, not just the loan applicant

  • Home inspection by the buyer and HQS Inspection by the City are required before closing.
  • Household income of 120% of Area Median (AMI).

  • Debt ratios of 31/45%. Minimum Credit Score of 600.

  • Maximum purchase price is $180,000.

  • Total of $2000 investment from the borrower with a minimum of $1000 from borrower's own verifiable funds. The additional $1000 may include POC's (appraisal, inspections, etc...)

  • Loan types are flexible - Includes fixed and fully amortized products: FHA/VA, Conventional, Affordable Housing Products, ARM loans are not allowed.

** Not All Buyers Will Qualify For The Max Award; Depends On Need **

Click Here For Mortgage Assistance Program Quiz And Application

List of Approved Agencies
City of Tampa Program Guidelines
City of Tampa Sales Contract Addendums