Down Payment & Closing Cost Assistance Programs

Do you have a dream about owning your own home? Tired of renting and paying the landlords mortgage? Need a little help with your downpayment and/or closing costs? Don't miss the opportunity to take advantage of one of the best Buyer's market in history. Thanks to multiple State and Local programs, help is just a click away. As we all know, State and County programs are not just putting anyone into a home. You still must have a steady job and/or consistent income, acceptable credit score, reasonable debt to income ratios, etc. But, if you are serious, I can help!

Feel free to review the information below and call me directly to discuss the different program details and your options for qualifying. Always remember...if you don't have a dream, you can't have a dream come true!!!


The S.H.I.P (State Housing Initiative Partnership) Program - The State of Florida has developed several proactive initiatives to encourage the provision of affordable housing at the local level. One such initiative is the State Housing Initiatives Partnership (SHIP) Program, which was created by the William E. Sadowski Affordable Housing Act of 1992. The act establishes a dedicated revenue source to be used by local governments and municipalities to create affordable housing opportunities.

The Florida Housing Bond Program - is another excellent option available for Buyer who live in Orange, Seminole, Lake and Osceola Counties. The program is designed for First-Time Homebuyers (can't have owned a home within the last 3 years). Assistance amount is up to $7,500.00 which can be used for Down Payment and/or Closing Costs. There is a maximum household income limit, but it is quite generous. You must have a minimum credit score of 640 and can only use the funds for Existing Homes, New Construction Homes, Townhomes, and Condo purchases. Please click the link below for more information.

Click here to see a flyer on Bond Program

Orange County Down Payment Assistance Program:

The purpose of Orange County's Down Payment Assistance program is to provide funds to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The program will provide assistance to qualified very low, low and moderate income persons in Orange County on a first come, first ready basis. The program also requires that potential homebuyers complete a pre-purchase and post-purchase education program. Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Orange County DPA

Lake County Down Payment Assistance Program:

Lake County offers assistance to help low and moderate income households purchase homes. The program is funded through the State Housing Initiatives Partnership (SHIP). The funds can be used for down payments, closing costs and mortgage buydowns for new homes, or for existing homes that have been or will be repaired within twelve months of transfer of title. The maximum purchase price for new and existing homes is $247,387. Up to $5,000 of the assistance can be used for repairs to existing homes. Extremely low, very low and low income households purchasing newly constructed homes will also be eligible for partial impact fee waivers. The amount of SHIP assistance available varies by income category. Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Lake County DPA

Seminole County Down Payment Assistance Program:

Follow the link below for detailed information regarding Seminole County's housing and financial assistance programs including: DPA program overview, community service block grants, first-time homebuyers program, application links, lender package, guidelines, etc.

Click here to go to Seminole County DPA

Osceola County Down Payment Assistance Program:

S.H.I.P. Down-Payment Assistance Application period will begin TBD. In order to obtain an application for assistance, the following requirements must be met:

  • 12hr - First Time Homebuyer's Education Certificate (provided by Osceola County Extension Services)
  • Current Pre-approval Letter from one of Osceola County's Participating Lenders (no more then 60 days old) Applications can be obtained in person at the Osceola County Human Services Division, located at 108 Park Place Blvd., Kissimmee, FL 34741 or here online when available. Applications must be hand-delivered to the office with the attached requirements. Have questions? Contact us at 407-742-8400.

The Osceola County housing assistance program is designed to make affordable housing available to citizens with an income that is classified as moderate or lower. The number of moderate funding is limited to funding restrictions.

The State Housing Initiatives Partnership (S.H.I.P.) program provides funding to local governments to assist citizens to become homeowners. Eligible first-time homebuyers will receive financial assistance to help with the costs of buying a home. S.H.I.P. partners in Osceola County include lending institutions, housing developers, community based housing, service organizations and affordable housing professionals. Applications are processed on a first-come, first ready, first served basis. Maximum financial assistance is:

  • Very low income = $36,000.00
  • Low income = $26,000.00
  • Moderate = $16,000.00

Follow the link below for detailed information including: DPA program overview, application, lender package, guidelines, etc.

Click here to go to Osceola County DPA

For more information on any of the Downpayment Assistance Programs (SHIP) throughout the Central Florida area, or if you would like direct assistance in applying for a program, please complete the form below and I will contact you shortly. Or feel free to call me, Joe Bornstein, Broker/Owner, Rock Springs Realty at toll free 877-333-2811, cell# 407-252-8092, or email at

Do you have a question?

Simply complete the form below and let us know how we can help. One of our staff will get right back to you. We guarantee and respect your privacy.

Your Information
Your Question?
Mortgage News Daily:
MBS RECAP: Bond Markets Go out at May"s Best Levels
5/29/2015 4:30 PM
Posted To: MBS CommentaryIt came right down to the wire . The best 3pm closing level for 10yr yields was previously seen on May 1st at 2.117. We hovered near those levels for much of the day today, but ultimately hit 2.095 by 3pm. Even though bonds continue to trade until 5pm, most market participants rega...Read More
Mortgage Rates Back Into the 3"s to End The Month
5/29/2015 3:00 PM
Posted To: Mortgage Rate WatchMortgage rates moved lower again today , making this the 7th straight day where rates have either held steady or improved. Over that time, no single day stands out as clearly better than the others. Instead, the gains have been slow, steady, and varied by lender to a greater degree...Read More
State, CFPB win Judgment against Florida Loan Mod Scheme
5/29/2015 12:57 PM
Posted To: MND NewsWireA Florida law firm and its several affiliates which had already been shuttered by the State of Florida and the Consumer Financial Protection Bureau (CFPB) were ordered on Friday to pay a total of $27.7 million in damages and penalties. The judgment arose out of a lawsuit filed by CFPB and the Flori...Read More
Realtors Confronting Problems of Structure, Leadership, and Technology
5/29/2015 12:53 PM
Posted To: MND NewsWireThe Definitive Analysis of Negative Game Changers Emerging in Real Estate or D.A.N.G.E.R report prepared for the National Association of Realtors® (NAR) by author Stefan Swanepoel is blunt in addressing vulnerabilities of the Association itself. Swanepoel is especially critical of NAR"s leaders...Read More
MBS MID-DAY: After Data, Bonds on Cruise Control at Slightly Stronger Levels
5/29/2015 12:15 PM
Posted To: MBS CommentaryToday has quickly become the 3rd day of exceptionally calm trading relative to a heretofore tumultuous month. The even-keeled vibes began right from the start of the overnight session with 10yr yields trading in a 2.12-2.14 range during Asian hours. The onset of European trading br...Read More
Good Trends in House Prices; 45 Business Days until TRID! Survey Says 92% Will Be Ready
5/29/2015 9:52 AM
Posted To: Pipeline PressAccording to the U.S. Census Bureau, there are now ten cities that have a population of greater than 1 million with California and Texas each home to three of these cities. San Jose, CA has now been added to the top 10 most populous cities, which also includes Los An...Read More
MBS Day Ahead: Month-End on a Friday. Time to Lock?
5/29/2015 6:33 AM
Posted To: MBS CommentaryJust yesterday morning, I noted that bond markets may be seeing the light at the end of the tunnel for May. Indeed, things have been going well enough this week compared to recent weeks. Even the big financial media outlets are chiming in with headlines such as " Call it a Sig...Read More
Mortgage Rates Microscopically Lower
5/28/2015 4:44 PM
Posted To: Mortgage Rate WatchMortgage rates barely budged today. Those that budged moved almost imperceptibly lower from yesterday"s latest rate sheets. In general, there was simply very little movement in underlying markets and lenders" rate sheets matched the tone. Ironically, Freddie Mac"s weekly rate surve...Read More
MBS RECAP: Increasingly Calm Trading Heading into Month-End
5/28/2015 4:39 PM
Posted To: MBS CommentaryThere's 'month-end' and then there's 'month-end.' In a general sense, this entire week can be referred to as month-end as far as bond markets are concerned. It's a time where money managers are adjusting portfolios to match adjustments made in the indice...Read More
MBS MID-DAY: Week-Long Positive Trend Running Out of Steam
5/28/2015 11:12 AM
Posted To: MBS CommentaryAfter the last visit to May's weakest levels (last Wednesday morning), MBS and Treasuries have been in a fairly linear trend back toward stronger levels . But as we approach those levels, bond markets are visibly having second thoughts . It's all right here in this easy-to-...Read More