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City of St. Petersburg Down Payment Assistance

City of St. Petersburg Down Payment Assistance is a forgivable loan for homebuyers in St. Petersburg, Florida.

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Check if this fits me Official program site ↗

The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course
  • A home inside St. Petersburg city limits

It doesn’t cover

  • Purchases above the $544,233 price cap
  • Households above 140% of area median income
  • Homes outside St. Petersburg

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

140% of Pinellas County’s area median income

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

$104,700
Area median income, 4-person household (HUD, 2026)
Income limits in Florida

Where it applies

St. Petersburg’s homes

  • 55.3% single-family
  • 3.4% townhouse
  • 7% 2–4 units
  • 32% 5+ units
  • 2.3% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$371,100

St. Petersburg median home value

70.1%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in St. Petersburg

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Questions about this program

What is City of St. Petersburg Down Payment Assistance?

City of St. Petersburg Down Payment Assistance is a forgivable loan for homebuyers in St. Petersburg, Florida. City of St. Petersburg provides up to $75,000 in deferred/forgivable 0% interest loan for eligible first-time homebuyers within city limits. Funding comes from State.

Do you have to pay it back?

City of St. Petersburg Down Payment Assistance is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, and No longer primary within compliance period. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of St. Petersburg Down Payment Assistance is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 620. A homebuyer education course is required.

What are the income limits?

City of St. Petersburg Down Payment Assistance limits household income to 140% of the area median income, which varies by county and household size. Income up to 140% AMI for Pinellas County; funding for 81-140% AMI is limited and prioritized to <=80% AMI, special-needs, and essential services personnel per SHIP. Max purchase price $544,233. Assistance = 20% of sales price + $5,000 closing, up to $75,000, as 0% second mortgage; forgiven after 10 yrs for <=80% AMI. Min 1% buyer contribution; 8-hr HUD homebuyer education required. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of St. Petersburg Down Payment Assistance caps the purchase price at $544,233. Eligible property types include Single Family, Condo, and Townhouse.

Where does it apply?

City of St. Petersburg Down Payment Assistance serves homebuyers purchasing in St. Petersburg, Florida.

How do you apply?

Applications for City of St. Petersburg Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Also for St. Petersburg homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 92 programs for St. Petersburg

Program terms are set by the administering agency and can change; confirm on the official site before you apply.