The Down Payment Assistance program offered by the City of Orlando provides qualified first-time homebuyers with financial assistance for their down payment and closing costs when buying an Orlando home. The program is available for homes purchased within the city limits and is based on the gross household income and need of the applicant. To be eligible, applicants must complete a pre-purchase homebuyer education workshop with an approved housing counseling agency and secure a first mortgage from a city-registered mortgage lender. The program does not require a minimum credit score, but applicants must have established residency for the last 12 consecutive months in certain counties and be able to contribute a minimum of $1,000 towards the down payment and closing costs. The property must meet certain eligibility criteria, such as being a new or existing single-family home, townhouse, or condominium, and must be located within the City of Orlando limits. Once the application is submitted, the approval process may take up to 30 days, and the assistance will be provided in the form of a check to be presented at the closing.
Who is Eligible?
To be eligible for assistance, you must meet all of the following criteria:
First-Time Homebuyer
You must not have owned a home in the past three years.
Exceptions (some requirements may apply):
- Displaced homemaker
- Single parent
- Displaced homeowner from or future resident in the Parramore Heritage Overlay District
- City of Orlando employee
- Teacher/school administrator
- Public safety personnel
Residency
You must have established residency for the last 12 consecutive months in Orange, Osceola, Lake, Polk, Seminole, Volusia or Brevard Counties.
What Properties are Eligible?
- The property must be located within City of Orlando limits.
- New or existing single-family homes, townhouses and condominiums are eligible. Mobile homes and trailers are not eligible.
- The property may be owner-occupied, vacant or occupied by the applicant; tenant-occupied properties are not eligible.
- The sales price must not exceed 90% of the median area purchase price established by the U.S. Treasury Department (Maximum sales price is $349,525.80).
How Much Assistance is Available?
| Income Level | % of the Area Median Income | Maximum Assistance |
|---|---|---|
| Very Low | Below 50% | $45,000 |
| Low | 51% – 80% | $35,000 |
| Moderate | 81% – 140% | $20,000 |