Down Payment Assistance Programs

Raymond James Bank offers a variety of key programs designed for first-time homebuyers across Florida. They are designed to provide eligible homebuyers a below-market interest rate when purchasing their first home.

Home Loan Programs Comparison

Please call to learn more about additional programs offered through Raymond James Bank.

  Florida Assist
FHA and VA Programs
Home Key Plus – Conventional,
FHA and VA Programs
Florida Housing HFA Conventional Programs

Program Features

  • $7,500 in down payment assistance at 0% interest rate and 0.18% annual percentage rate (APR)
  • Repayment is deferred for 30 years, except in the event of the sale, transfer or satisfaction of the first mortgage
  • $7,500 in down payment assistance at 0% interest rate and 0.18% APR
  • Repayment is deferred for 30 years, except in the event of the sale, transfer or satisfaction of the first mortgage
  • $7,500 in down payment assistance at 0% interest rate and 0.18% APR
  • Repayment is deferred for 30 years, except in the event of the sale, transfer or satisfaction of the first mortgage

Homebuyer Requirements

  • Must be a first-time homebuyer or have not owned a home in the previous three years
  • Minimum credit score of 640
  • Homebuyer education course required
  • Must be a first-time homebuyer or have not owned a home in the previous three years
  • Minimum credit score of 660 for FHA and VA loan types
  • Minimum credit score of 640 for conventional loan type
  • Homebuyer education course required
  • Must be a first-time homebuyer or have not owned a home in the previous three years
  • Minimum credit score of 640 for 5% down
  • Minimum credit score of 680 for 3% down
  • Homebuyer education course required
  • Two months’ mortgage payment in reserve after closing is required

Income Limits

  • $70,300 for 1- and 2-occupant households
  • $80,845 for 3-occupant or more households
  • Borrower cannot receive any funds back at closing

Conventional Programs

  • $55,360 for all households

FHA and VA Programs

  • $70,300 for 1- and 2-occupant households
  • $80,845 for 3-occupant or more households
  • $80,845 for 1- and 2-occupant households
  • $84,360 for 3-occupant or more households

Property Requirements

  • $294,601 maximum purchase price in Hillsborough, Pasco and Pinellas counties (purchase price limits vary in other Florida counties)
  • Loans are issued by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs (VA), so properties must meet the standards outlined by those authorities. No rehab on the home is allowed
  • Interest rates are set by the Florida Housing Finance Corporation
  • $294,600 maximum purchase price in Pasco, Pinellas and Polk counties
  • Conventional loans are issued by Freddie Mac (FHLMC). Other loans types are issued by the Federal Housing Administration (FHA) or the U.S. Department of Veterans Affairs (VA). Properties must meet the standards outlined by those authorities. No rehab on the home is allowed
  • Interest rates are set by the Florida Finance Authority of Pinellas County
  • $360,067 maximum purchase price in Hillsborough, Pinellas and Pasco counties (purchase price limits vary in other Florida counties)
  • Loans are issued by Fannie Mae (FNMA), so properties must meet the standards outlined by this authority. No rehab on the home is allowed
  • Interest rates are set by the Florida Housing Finance Corporation

Other

 

Raymond James Bank Community Heroes Grant Program

  • Grant program for law enforcement officers, firefighters, EMT-certified first responders, paramedics and full-time public and charter school teachers in pre-kindergarten through 12th grade
  • For more information, contact one of our mortgage consultants, Linda Kemp or Mike Huffman
 

Products, terms, and conditions subject to change. Subject to standard credit criteria. Property insurance is required. Flood insurance is required if property is in a designated flood zone of 'A' or 'V.'