Assistance Programs

New Millennial Homes specializes in working with first-time buyers who often qualify for down payment assistance - if they know when, where and how to apply for those funds. In fact, the majority of our buyers qualify for some kind of assistance from state or local governments. Most of these programs are focused on income or occupation, and credit scores are typically a secondary consideration.

Assistance programs are generally available as grants, gifts or as zero-interest second mortgages that often pay themselves back over time. Every community offers slightly different programs, with different applications forms, deadlines and qualification limits. Anytime you feel confused, you can call us at 813-234-2388 for help - we've been there, done that and we can walk you through every step of the way!

New Millennial Homes is a proud member of the Florida Housing and Finance Corporation's Home Ownership Pool. That means qualified buyers may be eligible for up to 35% of the purchase price of the home that would cover all closing costs and help subsidize the total mortgage.

Individual communities also offer down payment assistance for first-time homebuyers. For instance, the city of Tampa will award up to $50,000 or 10% of a purchase price up to $226,000 to qualified residents. In Hillsborough County, first-time buyers may qualify for up to $65,000 in funds provided as a zero-interest loan deferred for 30 years. That means that you do not need to repay the loan if you stay in the house for the life of the loan.

If you are a state-certified teacher, nurse, firefighter or law enforcement officer in Hillsborough County, you may be eligible for another $5,000 as are families who purchase in specific neighborhoods targeted for redevelopment. Pinellas residents are eligible for a Hometown Heroes program that provides interest-free deferred second mortgages to people employed full-time in the military, public service or health organizations who purchase homes in specific areas.

Residents in rural areas may qualify for the USDA Guaranteed Rural Housing Loan which offers USDA funds that will finance up to 100% of the purchase price with no down payment or mortgage insurance required.

Almost all programs require that participants complete a class for first-time buyers before the grant or loan is finalized. Local classes are available in Hillsborough  and Pinellas counties. You can also take the class online at The Nehemiah Program or at Mortgage Guaranty Insurance Company.

For more information, visit the site for the community where you live or would like to live, or click here to contact a sales counselor who can help walk you through the process.

• Pinellas, Pasco and Polk counties 
• City of Clearwater, Largo and many other Pinellas counties 
• City of St. Petersburg
• Hillsborough County 
• City of Tampa 
• Statewide Programs  for families with incomes of 80% of the area's median income or  for families with moderate incomes.

Many of the government programs are based on household income as compared to the area's median income. Here's the chart they'll use to qualify your family:

Other homebuyers may qualify for assistance from the Nehemiah Program, which has helped more than 247,000 families become homeowners across the country. The not-for-profit organization offers gifts of up to 6% toward the down payment or closing costs for both first-time and repeat homebuyers.