Fort Lauderdale Down Payment Assistance Program | $75,000 for First-Time Homebuyers

Buying a home in Fort Lauderdale can be challenging, especially for first-time buyers facing high upfront costs.

The City of Fort Lauderdale Purchase Assistance Program helps bridge that gap by offering up to $75,000 in down payment and closing cost assistance.

Check Your Eligibility for Fort Lauderdale Down Payment Assistance

This guide explains how the program works, who qualifies, and what buyers need to know to take advantage of this opportunity.

Fort Lauderdale First-Time Homebuyer Down Payment Assistance Program Overview

The City of Fort Lauderdale Purchase Assistance Program, also called the First-Time Homebuyer Down Payment Assistance Program, helps residents take their first step into homeownership.

The program provides up to $75,000 for down payment and closing costs. The exact amount depends on income, need, and available funds.

The money is given as a 0% interest, deferred-payment second mortgage. There are no monthly payments. Repayment is only required if the home is sold, rented, or transferred before the required occupancy period ends.

If the buyer stays in the home and meets program rules for 7 to 15 years (depending on funding), the loan is forgiven and does not need to be repaid.

The city’s loan is recorded as a second lien behind the first mortgage. Refinancing for a better rate is usually allowed with city approval, but cash-out refinancing is not permitted until forgiveness.

In short: assistance is interest-free, no-payment money upfront that becomes a grant if the homeowner stays in the property long enough.

Benefits of the Fort Lauderdale Down Payment Assistance Program

This program delivers specific financial and educational benefits that directly lower the cost of buying a home and improve long-term affordability for first-time buyers.

Up to $75,000 in Assistance
Buyers can receive as much as $75,000 toward down payment and closing costs. This reduces or even eliminates the need to save a large lump sum before purchasing.

Zero-Interest, No-Monthly-Payment Loan
The assistance is provided as a 0% interest loan with no monthly payments. You do not owe anything on this second mortgage while you live in the home.

Forgiveness After Required Occupancy
If you stay in the home for the required number of years (commonly 7 to 15 years depending on funding), the entire loan is forgiven. That means the $75,000 effectively becomes a grant that you never have to repay.

Lower Monthly Housing Costs
Because the assistance lowers the size of your first mortgage, it reduces your monthly payment. In some cases, it may also remove the need for private mortgage insurance (PMI), saving hundreds of dollars each month.

Who the Fort Lauderdale Purchase Assistance Program Is For

The program is designed to help buyers who are ready to own but need financial support to make it possible.

• First-time buyers – People who have not owned a home in the past three years.

• Low- to moderate-income households – Buyers earning up to 80% of AMI, and in some cases up to 120% if funds allow.

• Residents committed to Fort Lauderdale – Buyers who plan to live in their home long-term, not investors or flippers.

In short, the program supports mortgage-ready buyers with limited savings who want to put down roots in Fort Lauderdale.

Check Your Eligibility for Fort Lauderdale Down Payment Assistance

Requirements to Qualify for the Fort Lauderdale Purchase Assistance Program

To be approved for assistance, buyers must meet all of the following criteria:

• First-time homebuyer – No homeownership in the past 3 years (with limited exceptions for veterans or displaced homemakers).

• Income within limits – Household income must be at or below the published area median income (AMI) thresholds, adjusted by family size.

• Property location – Home must be inside Fort Lauderdale city limits and meet program guidelines (single-family, condo, or townhome).

• Primary residence – Must live in the home; renting out, selling, or moving before the affordability period ends will trigger repayment.

• Credit and mortgage ready – Must qualify for a first mortgage, typically requiring a 660+ credit score and acceptable debt-to-income ratios.

• Homebuyer education – Completion of an 8-hour HUD-approved course with a certificate of completion is required.

• Buyer contribution – Must invest at least $1,000 or 1% of the purchase price from personal funds.

• Funding availability – Applications are processed on a first-come, first-qualified basis until funds run out.

Meeting these requirements positions buyers to access up to $75,000 in down payment and closing cost assistance through the program.

Income and Purchase Price Limits for the Fort Lauderdale Purchase Assistance Program

To qualify, buyers must meet household income guidelines based on Area Median Income (AMI) and purchase a home within affordability standards.

2025 Income Limits (Broward County, by Household Size)

• Households at or below 80% AMI are the primary target group.

• Households up to 120% AMI may qualify if funding allows, but priority is given to lower-income applicants.

• All household income is verified by HUD standards.

Purchase Price Limits

• Affordable housing only – Homes must be priced at a level affordable to the buyer’s income and mortgage qualification.

• FHA loan limits as a ceiling – In 2025, the FHA cap for a single-family home in Broward County is $654,350. Homes priced above this are not eligible. Most program purchases fall in the $200,000–$300,000 range.

• Eligible property types – Single-family homes, condos, and townhomes. Properties must be in good condition and pass inspection.

• Not eligible – Manufactured homes, co-ops, properties with code violations, or recently flipped homes at inflated prices.

Together, these income and purchase price rules ensure the program supports modest, affordable housing for first-time buyers in Fort Lauderdale.

Check Your Eligibility for Fort Lauderdale Down Payment Assistance

Frequently Asked Questions

Here are quick answers to the most common questions about the Fort Lauderdale Purchase Assistance Program.

How do I apply?

Contact the City of Fort Lauderdale’s Housing and Community Development Division to start the application process. You’ll need a mortgage pre-approval and proof of completing a homebuyer education course.

Do I have to live in Fort Lauderdale already?

No. You just need to purchase a home within Fort Lauderdale city limits and plan to live in it as your primary residence.

Is this a grant or a loan?

It’s a forgivable loan with 0% interest and no payments. Stay in the home for the required period, and it becomes a grant.

What are the main conditions?

You must live in the home as your primary residence for the full affordability period. Renting it out, selling too early, or cash-out refinancing can trigger repayment.

Are there any fees?

The city doesn’t charge major fees. You may pay small costs like the homebuyer class fee, inspection, or any closing costs beyond what assistance covers.

What credit score do I need?

A minimum credit score of 660 is typically required, along with meeting standard debt-to-income ratios to qualify for a first mortgage.

Do I need to put in my own money?

Yes. Buyers must contribute at least $1,000 or 1% of the purchase price from personal funds.

What types of homes qualify?

Single-family homes, townhomes, and condos within Fort Lauderdale are eligible. The home must be in good condition and pass inspection.

Is there a price cap on homes?

There is no fixed cap, but homes must be affordable for your income. As a guide, they must fall under the FHA loan limit (about $654,350 in 2025).

What if I sell or move before the required years?

You’ll have to repay some or all of the assistance, depending on how long you lived in the home.

Can I refinance my mortgage?

Yes, but the city must approve it. Refinancing for a better rate is allowed; cash-out refinancing is not until the loan is forgiven.

Can I combine this with other programs?

Sometimes. It depends on funding sources and program rules, so always check with the city before layering assistance.

When do I get the money?

The funds are applied at closing to cover down payment and closing costs. You won’t get a check; the money goes directly into the transaction.

The Bottom Line

The Fort Lauderdale Purchase Assistance Program gives first-time buyers a real path to homeownership by offering up to $75,000 in down payment and closing cost help.

It’s structured as a 0% interest loan that becomes a grant if you stay in the home long enough, making it both generous and practical.

For buyers who are mortgage-ready but short on savings, this program can be the difference between continuing to rent and finally owning a home in Fort Lauderdale.

Check Your Eligibility for Fort Lauderdale Down Payment Assistance