PRIVATE DOWN PAYMENT ASSISTANCE
Private Down Payment Assistance Loans
Down payment help that isn’t tied to your county’s funding — available statewide in Florida for buyers with steady income and limited savings.
OVERVIEW
Down payment help that isn’t tied to your county
Private down payment assistance comes from the lending side, not from a city, county or state housing fund. That means no waiting for funding rounds and no county-by-county rules — it can be used anywhere in Florida.
You take out a first mortgage, usually FHA, for most of the purchase price, and a second loan at closing covers your minimum down payment. The result: you can buy with little or nothing out of pocket for the down payment.
At a glance
- Covers your minimum down payment at closing
- Available statewide — not tied to county funding
- Repayable and forgivable options
- First-time and repeat buyers may qualify
- Primary residences only
Who it’s a good fit for
- Buyers with steady income who are short on savings
- Buyers whose county program is out of funds or has a waitlist
- Buyers over local program income limits
- Buyers who want to keep savings in reserve
KEY FEATURES
How it works
First mortgage
Your main loan — usually FHA — finances most of the purchase price with standard terms and a fixed rate.
Second loan for the down payment
A second loan funded at closing covers your minimum required down payment, so it doesn’t have to come from savings.
Repayable or forgivable
Depending on the option, the second is either repaid over time with its own small monthly payment, or forgiven after a set period of on-time payments.
Closing costs
Closing costs are separate from the down payment. They can often be covered with seller credits, lender credits or gift funds.
Private vs. county and state programs
Private DPA
- Statewide, not tied to funding rounds
- Often higher or no income limits
- Homebuyer class sometimes required
- Closes on a normal timeline
County & state DPA
- Depends on your county; funds can run out
- Usually strict income limits
- Homebuyer class usually required
- Approval can add weeks
Looking for local programs? See Florida down payment assistance by county.
GENERAL GUIDELINES
What lenders typically look at
- Credit score that meets program and lender minimums
- Steady, verifiable income and employment history
- Debt-to-income ratio within program limits — including any payment on the second loan
- The home must be your primary residence
- Property must meet the first mortgage’s standards
Guidelines vary by program and change over time. Alex will review your specific situation against current program rules.
GOOD TO KNOW
Things to consider
- The second loan adds to your total debt and is part of qualifying
- Repayable options add a monthly payment
- If you sell or refinance early, any unpaid or unforgiven balance is usually due
- Rates and costs can differ from a loan without assistance — compare the total cost
Alex will show you side by side how private DPA compares with your county’s program and a standard low-down-payment loan.
Run your numbers first
Use the Affordability Calculator to see how much home fits your budget. Then tap Check My Options and Alex will confirm real figures for your situation.
FAQ
Common questions
Do I have to be a first-time homebuyer?
Not always. Many private assistance options are open to repeat buyers, as long as the home will be your primary residence.
Is the assistance a grant?
Usually it’s a second loan. Some options are repaid over time; others are forgiven after a set period of on-time payments. Alex will explain exactly which applies before you commit.
Can I combine it with a county program?
Sometimes. Program rules decide whether assistance can be layered. Alex will check what’s allowed in your county and which combination costs less overall.
What happens if I sell or refinance?
Any remaining balance on the second loan is typically due when you sell or refinance. Forgivable options may have a reduced balance depending on how long you’ve had the loan.
GET STARTED
See if private DPA fits your purchase
Share a few details and Alex will follow up personally to review your options — usually the same business day. No obligation, and requesting information does not affect your credit.
- Shop 300+ wholesale lenders through NEXA Mortgage
- Clear answers on rates, costs and cash to close
- Pre-approval decisions typically within 24 hours of a complete application
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EXPLORE MORE
Related loan programs
Down Payment Assistance by CountyFHA LoansFirst-Time HomebuyersConventional LoansAll loan programsThe mortgage process
Not a commitment to lend. Not all applicants qualify. Programs, rates, terms and availability may change without notice. Down payment assistance is subject to program guidelines and availability. All loans are subject to credit, income, asset and property approval. H. Alex El-Ali, NMLS #1513750, FL LO125697 | NEXA Mortgage, LLC, NMLS #1660690. Equal Housing Lender.
Ready To Take The Next Step?
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