FL Assist vs. FL HLP: Comparing Florida's Down Payment Assistance Programs

FL Assist and FL HLP are two of Florida's most common down payment assistance programs — but they work very differently. Here's how to tell which one might fit you.

If you've started researching down payment assistance in Florida, you've probably come across two names that sound similar but work very differently: FL Assist and FL HLP. Both are second mortgage programs offered through Florida Housing to help with your down payment and closing costs — but the terms are different enough that which one you get matters. Here's the breakdown.

FL Assist: $0 Interest, No Monthly Payment

FL Assist provides up to $10,000 in down payment and closing cost assistance as a deferred second mortgage. That means:

• 0% interest — no interest accrues on the loan
• No monthly payments — you don't pay anything toward it while you live in the home
• Deferred repayment — the full balance becomes due only when you sell, refinance, or no longer occupy the home as your primary residence

For a lot of buyers, this is the more attractive option simply because it doesn't add anything to your monthly housing payment — it's assistance now, with repayment pushed to a future event rather than a recurring bill.

FL HLP: A Second Mortgage with Monthly Payments

FL HLP (the Homeownership Loan Program) also provides up to $10,000, but structured differently:

• 3% interest rate
• Fully amortizing over 15 years — meaning you make a monthly payment toward this loan for up to 15 years
• Like FL Assist, the remaining balance is due immediately if you sell, refinance, or move

FL HLP tends to make sense for buyers whose debt-to-income ratio can absorb an additional monthly payment, or for those who don't qualify for FL Assist for one reason or another.

So Which One Is "Better"?

Neither one is universally better — it depends entirely on your financial picture. If keeping your monthly payment as low as possible is the priority, FL Assist's zero-interest, no-monthly-payment structure is usually the more comfortable fit. If you need the assistance but your lender determines FL Assist isn't available to you or doesn't fit your loan program, FL HLP can still get you to the closing table with a manageable, predictable monthly cost.

A Few Things Both Programs Have in Common

• Both are structured as second mortgages behind your primary loan — not grants, and not something you can walk away from without repayment.
• Both require you to work with a participating lender and typically require completing a homebuyer education course.
• Both are subject to income limits and purchase price limits that vary by county, so eligibility isn't automatic just because you're a first-time buyer.
• Neither program is something you apply for directly — your lender determines eligibility and layers it into your loan application.

The Bottom Line

FL Assist and FL HLP solve the same problem — the down payment and closing cost gap — in two different ways. Which one actually applies to you depends on your loan program, your debt-to-income ratio, and what your lender is able to layer into your financing. That's not a decision to make from a blog post alone.

Curious which program you might actually qualify for? Let's talk, and I'll connect you with my preferred lender who can walk through your real numbers and tell you which assistance option fits your situation.