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Down Payment Loans · FHA

Down Payment Loans FHA Loan

Second mortgages and deferred loans that fund your down payment.

Type
2nd mortgage
Hometown Heroes
$35,000 at 0%
Repaid
On sale / refi
Pairs With
FHA · Conventional
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5 minutes · No cost · Soft credit pull only
NMLS# 1859012 · Equal Housing Lender
Down Payment Loans · FHA

Down Payment Loans FHA Loan in Florida

On an FHA loan, down payment loans works within FHA's 3.5% minimum and flexible 580-score guidelines. FHA carries an upfront and monthly mortgage insurance premium, but it forgives thinner credit and higher debt than conventional — and it pairs cleanly with Florida assistance to cover the cash.

A down payment loan is a second mortgage that funds your down payment, separate from your main loan. Florida's assistance programs are mostly structured this way — as deferred or low-interest seconds — which is different from a grant you never repay.

Hometown Heroes is the prime example: up to $35,000 as a 0% deferred second mortgage with no monthly payment, repaid only when you sell or refinance. Other programs offer low-interest seconds with small monthly payments. The first mortgage and the down payment loan are underwritten together.

A down payment loan adds to your total debt, so it affects your qualifying ratios even when it is deferred. We structure the two loans so they approve together and the combined payment still fits your budget.

Down Payment Loans at a Glance

✓A second mortgage that funds your down payment.
✓Hometown Heroes: $35,000 at 0%, deferred until you sell.
✓Some programs use a low-interest second with payments.
✓Underwritten alongside your first mortgage.

Read the full down payment loans guide, or compare other loan types: Conventional · First-Time Buyers · Florida.

Down Payment Loans Snapshot
2nd mortgageType
$35,000 at 0%Hometown Heroes
On sale / refiRepaid
FHA · ConventionalPairs With
How It Works
01
Apply Online
5 min · soft credit pull only
02
Match Program
We shop lenders + assistance
03
Processing
Our team handles paperwork
04
Close
Typically 14–21 days
FAQ

Down Payment Loans FHA Loan Questions

Does down payment loans work with an FHA loan in Florida?

Yes. FHA's 3.5% minimum and forgiving credit rules make it a natural fit, and down payment loans stacks with Florida Hometown Heroes to lower your cash to close. We confirm the FHA numbers against your file before you apply.

What is the difference between a down payment loan and a grant?

A grant is money you never repay; a down payment loan is a second mortgage you repay eventually — often only when you sell or refinance, and sometimes at 0%. Florida Hometown Heroes is a deferred loan, while some county SHIP funds are grants. We explain which you are getting.

Does a down payment loan affect my approval?

It can. Even a deferred 0% second adds to your total debt, which underwriters weigh in your ratios. The good news is the programs are designed to approve alongside a first mortgage. We structure both so the combined payment fits your qualifying numbers.

Keep Going
Down Payment Loans GuideDown Payment Loans · ConventionalDown Payment Loans · First-Time BuyersDown Payment Loans · FloridaAll Down Payment OptionsApply for Pre-Approval

Down Payment Loans FHA Loan?

A licensed Florida mortgage broker who shops the loan and the assistance for you — 5-minute pre-approval, honest numbers.

(561) 300-0380

Figures are illustrative only and based on a sample purchase price. APR, payments, and assistance amounts vary by credit score, loan amount, income, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.