FHA down payment help · Florida and Georgia
Grant or loan? Know what your down payment help really costs.
Most programs called "down payment help" are 0% loans you repay when you sell or refinance. A true grant you never repay does exist, but it comes with a higher interest rate. Here's how each option works with an FHA loan in Florida and Georgia, side by side.
Short answer: FHA loans have a minimum down payment that HUD sets, called the minimum required investment. How much you need depends on your credit score and the home's price, and HUD sets out the rules in its Single Family Housing Handbook 4000.1 (checked November 2, 2026). An FHA loan on its own isn't a no-money-down loan. Some government and state housing agency programs, like Florida Hometown Heroes, can help cover some or all of that minimum for buyers who qualify. Not all applicants will qualify.
Most "grants" are loans
Florida Hometown Heroes is a 0% second mortgage. You pay it back when you sell, refinance or pay off the home.
A true grant costs rate
Grants you never repay are available through our partner lenders. In exchange, your interest rate and monthly payment go up.
You usually pick one
The partner-lender grant can't be combined with any other down payment program, so compare them before you choose.
Compare the programs
Four ways to get help with an FHA loan
Each program sets its own rules, funding and limits, and those can change. A licensed loan officer can tell you which ones fit your income, job, credit and the home you want.
Florida
Florida Hometown Heroes
Type: 0% second mortgage
Repay: when you sell, refinance or pay off
Help: 5% of the loan, $10,000 to $35,000
For: full-time workers at Florida employers in eligible fields, and veterans
Score: 640
With FHA: yes
Florida + Georgia
Partner-lender grant
Type: grant, no second mortgage
Repay: never
Cost: a higher interest rate and monthly payment
For: moderate incomes, first responders, educators, medical workers, civil servants, military, first-time buyers and more
Score: 620
With FHA: purchases only
Read the cost section below before choosing this one.
The true grant, in detail
How the partner-lender grant works
FLO Mortgage arranges FHA loans through partner lenders, and some of them offer a down payment grant through a government program they administer. Open each section for the rules.
What you get
The grant covers part of the money FHA asks you to bring at closing. You don't repay it, and no second mortgage goes on your home. The grant is a set share of the purchase price, and your Loan Estimate shows the exact figure. The seller can still pay up to 6% of the price toward your closing costs.
What it costs you (read this first)
The grant isn't free money. The program gives you a higher interest rate than you'd get without it, so your monthly payment is higher and you pay more interest over the life of the loan. If family can give you gift money for the down payment, that usually costs less. When you use this grant, FLO Mortgage's compensation is paid by you as the borrower and shows on your Loan Estimate. Ask us to show you both versions, with and without the grant, before you decide.
Who qualifies
You need a credit score of at least 620 and FHA approval. You also need to fit one of these:
• household income at or below 140% of your area's median
• first responder, including volunteers
• educator
• medical worker
• federal, state or local civil servant
• military
• first-time home buyer
• the home sits in an underserved census tract
Rules to know
• Purchases only, on a 1 to 4 unit home you'll live in. FHA-approved condos and manufactured homes can qualify.
• 20, 25 or 30-year fixed-rate FHA loans, including 203(k) renovation loans.
• Not available on FHA high-balance loans, and you can't combine it with another down payment program.
• One borrower finishes a HUD-approved homebuyer course. The lender credits back up to $100 of the course fee at closing.
• The program isn't affiliated with HUD or FHA.
Timeline
The program needs three business days between clear-to-close and your closing, so plan your closing date with your agent and the seller.
Before you choose
• Ask family first. FHA accepts documented gift money for your down payment, and it costs nothing in rate.
• Price both ways. Compare the monthly payment with a state program, with a grant, and with no help at all.
• Check funding. State programs can run out of money for the year.
• Plan to stay? A 0% second mortgage comes due when you sell or refinance, so factor it into future plans.
See every FHA rule in our FHA requirements guide, or start from the FHA loan overview.
Down payment help: common questions
Are there down payment grants for FHA loans in Florida and Georgia?
Yes. Some partner-lender programs offer a grant you never repay, with no second mortgage, but they raise your interest rate. Florida Hometown Heroes is a 0% second mortgage, not a grant. It is not forgivable and must be repaid in full when you sell, refinance, transfer the home or stop living in it.
Is Florida Hometown Heroes a grant?
No. It's a 0% second mortgage with no monthly payment. You repay it when you sell, refinance or pay off the home.
What's the catch with a down payment grant?
The grant comes with a higher interest rate, so your monthly payment and total interest go up. Compare it with gift money from family or a state program before you choose.
Can I combine Hometown Heroes with other down payment help?
Florida Housing sets the rules for combining programs, and they can change each program year. Your loan officer will check the current guidelines for your loan.
What credit score do I need for down payment help?
At least 620 for the partner-lender grant, and 640 for Florida Housing's programs. HUD's own FHA minimum is 500.
Let's price it both ways
A licensed loan officer can show you the payment with a state program, with a grant and with no help, so you pick with real numbers.
This page is general education, not a commitment to lend or an offer of specific terms. All loans are subject to credit approval, underwriting guidelines and property eligibility. Not all applicants will qualify. Down payment programs are set and funded by the Florida Housing Finance Corporation, the Georgia Department of Community Affairs and our partner lenders. Amounts, rules and availability can change, and funds can run out. Grant programs offered through partner lenders aren't affiliated with HUD or FHA and come with a higher interest rate. FLO Mortgage arranges FHA loans through partner lenders and does not underwrite or fund them. Program details checked October 22, 2026. FLO Mortgage, LLC, company NMLS #1835856. Licensed mortgage lender in Florida (MLD2621), Georgia and Tennessee. Joy McCoy Flores, Broker Owner and licensed loan officer, individual NMLS #1096400. Equal Housing Opportunity. Licensing & Disclosures.