Tampa First Time Homebuyer Grants and Programs

If you’ve never owned a home, you may qualify for a first home buyers grant or other first-time homebuyer programs that can lower your upfront costs. Tampa’s growing job market, steady population increase, and year-round sunshine make it one of the most competitive housing markets in the U.S.

Fortunately, there are local and state-level 1st time home buyer programs designed to make homeownership more accessible. These programs offer down payment assistance, low-interest loans, and other financial support.

In this article, we’ll cover the top options available in Tampa.

In fact, as of 2024, the median home price in Tampa is $375,000 — up 4.2% from the previous year. Homes now sell in just 24 days on average, making it harder for first-time buyers to break into the market.  Fortunately, there are local and state-level 1st time home buyer programs designed to make homeownership more accessible. These programs offer down payment assistance, low-interest loans, and other financial support.

In this article, we’ll cover the top options available in Tampa.

Why First-Time Homebuyer Assistance Matters in Tampa

Tampa’s real estate market is competitive — and it’s getting tougher for first-time buyers. As of 2024, the median home price in Tampa is $375,000 — up 4.2% from the previous year. Homes now sell in just 24 days on average, often attracting multiple offers.

Rising prices and strong buyer demand make it increasingly difficult for first-time buyers to enter the market. However, the good news is that Florida and Tampa offer various down payment assistance programs designed to make homeownership more achievable.

Why You Should Consider a First Home Buyer Program:

• Lower Upfront Costs – Grants and loans help cover down payments and closing costs, reducing the amount of cash you need upfront.
• Easier Mortgage Approval – Assistance programs can help improve your eligibility by lowering financial barriers, increasing your chances of securing a loan.
• More Affordable Financing – Many programs offer low-interest, 0% interest rate, or even forgivable loans, making homeownership more financially sustainable.

Not sure if you meet the requirements for assistance? Learn who qualifies for down payment assistance in Tampa before applying.

City of Tampa Mortgage Assistance Program

The City of Tampa Mortgage Assistance Program provides eligible first-time homebuyers with up to $14,999 to help cover down payments and closing costs when purchasing a home within city limits.

This program offers a 0% interest, no monthly payment loan—often called a "silent second mortgage." It’s a strong example of a first home buyers loan that eases the financial burden early in the buying process.

Maximum Assistance Available

• Down payment – Up to 20% of the home’s purchase price or $10,000, whichever is lower
• Closing costs – Up to 50% of total closing costs or $4,999, whichever is lower
• Forgivable Loan – If the home remains owner-occupied for at least 5 years, repayment is not required

Home Inspection Requirements

Before closing, two inspections must be completed:

• Independent Home Inspection (paid for by the buyer)
• Housing Quality Standards (HQS) Inspection (conducted by the City of Tampa)

These inspections help ensure the home meets safety and livability standards—key components of any responsible home buyers program.

Compare FHA vs. Conventional Loans for Tampa buyers.

DARE: $25,000 First-Time Home Buyer Grant Application

The Dare to Own the Dream (DARE) program is a down payment assistance loan designed for first-time homebuyers purchasing a home within Tampa city limits.

Like the City of Tampa program, this is a 0% interest, no monthly payment loan, also known as a "silent second" mortgage. However, the DARE program offers a higher maximum award but has stricter qualifications.

Maximum Assistance Available

• 0-50% AMI → Up to $50,000
• 50.01%-80% AMI → Up to $35,000
• 80.01%-120% AMI → Up to $25,000
• 120.01%-140% AMI → Up to $18,000

Forgivable Loan – No repayment required if the home remains owner-occupied for 10 years.

Required Homebuyer Education

Before closing, buyers must:

• Work with an approved Loan Officer & Real Estate Agent from the City of Tampa’s Approved Lender & Realtor List
• Complete a mandatory homebuyer education course

East Tampa Down Payment Assistance

The East Tampa CRA Down Payment Assistance Program helps first-time homebuyers and renters transition into homeownership in East Tampa.

This silent second mortgage provides forgivable loans to help cover down payments and closing costs, making homeownership more affordable for eligible buyers.

Maximum Assistance Available

• 0-30% AMI → Up to $55,000
• 31%-50% AMI → Up to $45,000
• 51%-80% AMI → Up to $35,000
• 81%-140% AMI → Up to $18,000

✅ This level of support is especially valuable for those exploring low income home buying programs.

Forgivable Loan – No repayment required if the home remains owner-occupied for 7 years and the buyer completes a post-purchase education course.

The Home Sweet Home Hillsborough Program

The Home Sweet Home Hillsborough Program offers deferred loans to help first-time homebuyers with down payments and closing costs when purchasing a home in Hillsborough County.

This program makes homeownership more accessible by providing affordable assistance without requiring monthly payments—unless specific conditions apply. It's also a great option for those who may not qualify for a first home owners grant.

Key Features

• Maximum Assistance – Up to $12,500
• Deferred Loan – No payments required unless:
• Property is sold, refinanced, or foreclosed
• Home is no longer the borrower’s primary residence
• Home Price Limit – Capped at $295,000 for 2025

Other First-Time Homebuyer Assistance Programs Available in Tampa

Whether you're a 1st time home buyer or returning to the market after years of renting, there are programs that can help lower your upfront costs.

In addition to city- and county-specific programs, Tampa residents have access to state and federal down payment assistance grants. These options make homeownership more affordable and accessible. Tampa also offers several new home buyer programs designed to support those entering the market for the first time.

Florida Assist Program

• Provides up to $10,000 for down payment or closing costs
• Deferred loan – no payments unless home is sold or refinanced

HFA Preferred & HFA Advantage PLUS

• Offers up to 5% of the loan amount for down payment assistance
• No repayment required – it's a true grant for home buyers

USDA & VA Loan Options

USDA Loans – Zero down payment required (for rural areas)

VA Loans – No down payment or PMI (for qualified veterans)

Discover the differences: USDA Loans vs. VA Loans – Which is Right for You?

How to Apply for First-Time Homebuyer Grants in Tampa

Whether you're applying for assistance through the City of Tampa, DARE, East Tampa CRA, or the Home Sweet Home Hillsborough Program, the process generally includes a few core steps:

1. Choose the Right Program

• Decide whether you're purchasing within the Tampa city limits, East Tampa, or elsewhere in Hillsborough County.
• Each program has its own limits and funding options — be sure to compare.

2. Start With a Housing Counseling Agency or Approved Lender

• For City of Tampa and DARE: Begin with one of the city’s approved Housing Counseling agencies.
• For Hillsborough County programs: Use an approved lender or broker, such as Ebenezer Mortgage Solutions.

3. Complete Homebuyer Education

• Most programs require a pre-purchase education course.
• For DARE: Work with an approved lender and realtor from the city’s list.

4. Gather Your Documents

You’ll typically need:

• Recent tax returns
• Pay stubs and proof of income
• Bank statements
• Credit report
• Reservation number (required before signing a contract)

5. Get Pre-Approved and Home Inspections Done

• Most programs require a pre-approval letter and an accepted offer only after you've obtained your reservation number.
• Homes must pass an independent home inspection and, in some cases, a city-conducted HQS inspection.

6. Submit Your Application

• Work with your lender or agency to submit all documentation.
• Await final approval and proceed to closing.

For tips on improving your score, read our guide to improving your credit score for buying a house.

Looking to Buy a Home in Tampa?

If you're a first-time homebuyer looking to purchase in Tampa, the right programs and support can make all the difference. From grants for home buyers to down payment assistance, there are options available to help you get started.

At Ebenezer Mortgage Solutions, we're here to guide you through every step of the process—from pre-approval to closing. We work with a wide network of lenders to help you find the best loan options and first-time buyer programs that fit your needs.

📞 Call us today at (813) 284-4027

📍 3638 W Cypress St Tampa, FL 33607