Florida Housing Down-Payment Guide: FL Assist and FL HLP
Updated October 2026
Florida Housing assistance: distinguish the loan from the grant
Florida Housing assistance programs are not interchangeable. FL Assist offers up to $10,000 through a deferred, non-amortizing second mortgage at 0% interest. FL HLP is a different repayment structure, traditionally offering up to $10,000 at 3% interest over 15 years, with monthly payments. Confirm current terms with Florida Housing before building a purchase budget.
The frequently advertised 3%–5% assistance belongs to percentage-based options such as HFA Preferred or HFA Advantage PLUS when offered; it should not be labeled FL HLP. The distinction matters because a forgivable percentage-based second mortgage and an amortizing HLP loan have different payment and repayment consequences.
Compare the actual structures
| Option | Assistance basis | Payment structure |
|---|---|---|
| FL Assist | Up to $10,000 | 0% deferred second mortgage |
| FL HLP | Traditionally up to $10,000 | 3%, amortized over 15 years |
| Eligible PLUS options | Offered percentage, potentially 3%–5% | Forgiveness schedule under current terms |
For perspective, 3% of a $300,000 first mortgage is $9,000; 5% is $15,000. Those calculations do not establish that either percentage is currently available for your loan. Ask the lender to name the exact product and provide its current program sheet.
Measure the trade-off over time
FL Assist can reduce upfront cash without adding a scheduled monthly payment, but its balance generally becomes payable following specified events such as a sale or refinance. HLP's monthly installment must be included in qualification and the household budget. Percentage-based assistance may carry conditions governing forgiveness and early repayment.
Request two Loan Estimates: one with the assistance package and one without it. Compare interest rate, points, lender fees, mortgage insurance, and remaining cash. Use the CFPB explanation of Loan Estimates to organize the comparison.
Build the Florida payment
Start with today's rates, then use the monthly payment calculator and add any HLP installment separately. Obtain address-specific insurance estimates using Florida OIR resources and assess property-tax assumptions through Florida Revenue. HUD housing counseling can help buyers compare the structures. Choose assistance by its total cost and repayment terms, not its headline amount.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Florida Housing Down Payment Guide: FL Assist and FL HLP — Compare IHCDA First Place 6.0% FHA assistance and Next Home 2.5%–3.5% in Indiana with MSHDA up to $10,000 in Michigan; verify eligibility and repayment or forgiveness terms.
Historical 2025 one-unit comparison: conforming $806,500; FHA floor $524,225. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.