3 First-Time Homebuyer Programs in Tampa, FL

Many people want to own a home in Tampa, FL, but the hefty amount required to purchase the home makes homeownership a pipe dream for many. And with the low inventory in Tampa, and soaring sale prices (the median home listing price is over $400,000, according to Realtor.com), first-time homebuyers are having a more difficult time finding a home. Fortunately, there are several assistance programs available for prospective buyers.

In this article, we’ll review some of the best first-time homebuyer programs in Tampa, FL. 

Dare to Own the Dream

The Dare to Own the Dream program offers up to $40,000 to help first-time homebuyers cover down payment and closing costs to attain their homeownership dream. It acts as a secondary after the primary financing from a lender. It’s generally referred to as the silent second due to the $0 monthly payment and 0% interest rate. The DPL (deferred payment loan) will remain “silent” provided the home remains owner-occupied and your primary residence. 

Housing and Community Events: Mortgage Assistance Program

The housing counseling team in the City of Tampa assists residents with their housing finance needs. The Mortgage Assistance Program is one way the city offers down payment assistance loans to income-eligible homebuyers. The program offers up to $14,999 to enable first-time homebuyers to achieve the dream of owning a home in Tampa, FL. 

Salute Our Soldiers Military Loan Program

Designed to help qualified active duty and veteran military members, the program provides 30-year, fixed-rate loans for government-backed mortgages (FHA, USDA, and VA). To qualify, you should meet credit, income, and purchasing price requirements and complete the homebuyer education class. 

Avail These First-Time Homebuyer Programs in Tampa!

Now that you have the lowdown on the help available to buy your first home in Tampa, you’re ready to take the next steps. Contact our real estate agents for more information about homebuyers programs as well as homes available for sale in Tampa, FL. We’ll help you find your dream home that suits your budget and preferences!