Pinellas County First-Time Homebuyer Program

Q: How do I qualify for the Pinellas County first-time homebuyer program?

To qualify, you must have a minimum FICO score of 660, not have owned a home in the last 3 years (unless you are a veteran or buying in a Target Area), and meet household income limits ($104,300–$146,020 depending on family size and location). You must also complete a homebuyer education course.

Q: What is the income limit for Pinellas County down payment assistance in 2026?

For the 2025-2026 fiscal year, income limits for the HFA program are $104,300 for households of 1-2 people and $119,945 for households of 3+ in non-target areas. In Target Areas, these limits increase to $125,160 (1-2 people) and $146,020 (3+ people).

Q: Do I have to pay back the Pinellas County down payment assistance?

It depends on the specific program. The HFA Home Key Plus ($10,000) is a 0% interest deferred second mortgage repayable when you sell, refinance, or move. The County's Community Development assistance (up to $75,000) may be forgiven after 30 years for very-low and low-income buyers, provided they remain in the home.

Q: Can I use the down payment assistance for closing costs?

Yes. Funds from both the Home Key Plus second mortgage and the Community Development Down Payment Assistance program can be used to cover your down payment and eligible closing costs, significantly reducing the cash you need to bring to the closing table.

Q: What is a "Target Area" in Pinellas County?

Target Areas are specific census tracts designated by the federal government as areas of chronic economic distress. To encourage homeownership here, the HFA program offers higher income and purchase price limits, and often waives the first-time homebuyer requirement for applicants purchasing homes in these zones.

Q: Is there a purchase price limit for homes in Pinellas County?

Yes. For the HFA program in 2026, the maximum purchase price is $544,232 for homes in non-target areas and $665,173 for homes in Target Areas. The Community Development program generally caps the purchase price at $544,233.

Q: Can veterans use the Pinellas County First-Time Homebuyer Program?

Yes, veterans are highly encouraged to apply. A key benefit for veterans is the "first-time homebuyer" exemption; veterans may use the HFA program to purchase a home even if they have owned a primary residence within the last three years.

Q: What is the minimum credit score for Pinellas County housing assistance?

The Housing Finance Authority of Pinellas County generally requires a minimum middle FICO credit score of 660 for all applicants participating in their down payment assistance programs.

Q: Does the program work with FHA loans?

Yes. The program is designed to work with FHA, VA, USDA-RD, and Freddie Mac HFA Advantage Conventional loans. The interest rates for these loans are set by the HFA and are often competitive (e.g., approx 6.00% for FHA/VA in current terms).

Q: How long does it take to get approved for the Pinellas County program?

The timeline follows a standard mortgage process, typically taking 30 to 45 days from contract to closing. The most critical step is getting pre-approved by a participating lender early, as they handle the submission for the county assistance funds on your behalf.

2026 Funding Status: 72% Allocated

Funds are distributed first-come, first-served.

Up to $75k Assistance

Through the Community Development Down Payment Assistance program, eligible buyers can receive up to $75,000 as a 0% interest, deferred loan.

0% Deferred Interest

Many programs, including Home Key Plus ($10k), offer deferred second mortgages that require no monthly payments until you sell or refinance.

Primary Residence

Designed for homebuyers intending to occupy the property. Includes targeted areas in Pinellas County with higher income limits for 2026.

Families Helped

$0M+

Funds Awarded

Assistance Forgiven*

Day Avg. Closing

Available Programs & 2026 Terms

Housing Finance Authority (HFA) Program

Also known as Home Key + Home Key Plus. This combines a first mortgage with down payment assistance via a 0% deferred second mortgage.

Assistance: $10,000 deferred (Home Key Plus). Repayable upon sale/refinance.
Interest Rates (Est. 2026): FHA/VA 6.00% | Conventional 6.50%
Credit Score: Minimum 660 FICO required.

2026 Income Limits

Non-Target (1-2 ppl) $104,300

Target Areas (1-2 ppl) $125,160

Max Purchase Price $665,173*

*For Target Areas

Community Development Down Payment Assistance

A substantial assistance program separate from HFA. Status: Active & Accepting Applications for 2026.

Max Assistance: Up to $75,000 (0% interest, deferred).
Forgiveness: After 30 years for very-low/low income (repayment required if sold early).
Location: Must be in unincorporated Pinellas or eligible service areas.

Key Requirements

Liquid Assets Cap $50,000

Purchase Cap $544,233

Income (1 person) < $58,450*

*Example for maximum assistance tier

See If You Qualify

The Cost of Waiting

Why buying in 2026 beats waiting until 2027

Buying Now (2026)

Lock Home Price: Secure your home value before appreciation.
$75k Assistance: Secure current funding before allocation runs out.
Build Equity: Start paying yourself instead of a landlord immediately.

Waiting (2027)

Higher Prices: Projected 4-6% appreciation means paying more for the same home.
Lost Rent: Another year of rent payments ($24k+ avg) lost forever.
Uncertain Funding: County programs change annually; 2026 terms aren't guaranteed.

Defining "First-Time Homebuyer" Status for 2026

To qualify for the Pinellas County First-Time Homebuyer Program, you generally must not have owned a primary residence in the past three years. This "three-year rule" resets, meaning if you owned a home previously but sold it more than three years ago, you may regain eligibility as a first-time buyer.

Important Exception: Veterans using the HFA Preferred or HFA Advantage products may be exempt from the first-time homebuyer requirement. Additionally, those purchasing homes in federally designated "Target Areas" within Pinellas County may not need to meet the first-time buyer criterion to access down payment assistance funds.

Key Qualification Criteria

Credit Score: A minimum middle FICO score of 660 is strictly required for most HFA programs.
Debt-to-Income: Lenders typically look for a DTI ratio below 45-50% to ensure affordability.
Education: Completion of a HUD-approved homebuyer education course is mandatory before closing.

Eligible Properties & "Target Areas"

Where Can You Buy?

The Community Development Down Payment Assistance program ($75k limit) generally requires the home to be located in unincorporated Pinellas County or specific contracting municipalities. However, the HFA First-Time Homebuyer Program (Home Key) is available throughout the entire county, including St. Petersburg and Clearwater.

What is a Target Area?

Target Areas are federally designated zones that allow for higher income limits (up to $146,020 for families of 3+) and higher purchase price limits (up to $665,173 in 2025-2026). Buying in these zones often provides more flexibility for applicants.

Think You Can't Buy?

Let's address the most common barriers stopping renters.

"I don't have a 20% down payment saved."

Reality: You don't need 20%. Most first-time buyers put down 3-5%. With Pinellas County assistance (up to $75k), many of our clients bring little to no money to the closing table.

"My credit score isn't perfect."

Reality: You don't need an 800 score. The minimum FICO requirement for these county programs is 660. We can also help guide you on rapid credit improvement if you're close.

"Interest rates are too high right now."

Reality: "Marry the house, date the rate." You can refinance later when rates drop, but you can't lock in today's home prices once they rise. Plus, the $75k assistance effectively lowers your monthly cost significantly.

Common Questions

Frequently Asked Questions

How do I qualify for the Pinellas County first-time homebuyer program?

To qualify, you must have a minimum FICO score of 660, not have owned a home in the last 3 years (unless you are a veteran or buying in a Target Area), and meet household income limits ($104,300–$146,020 depending on family size and location). You must also complete a homebuyer education course.

What is the income limit for Pinellas County down payment assistance in 2026?

For the 2025-2026 fiscal year, income limits for the HFA program are $104,300 for households of 1-2 people and $119,945 for households of 3+ in non-target areas. In Target Areas, these limits increase to $125,160 (1-2 people) and $146,020 (3+ people).

Do I have to pay back the Pinellas County down payment assistance?

It depends on the specific program. The HFA Home Key Plus ($10,000) is a 0% interest deferred second mortgage repayable when you sell, refinance, or move. The County's Community Development assistance (up to $75,000) may be forgiven after 30 years for very-low and low-income buyers, provided they remain in the home.

Can I use the down payment assistance for closing costs?

Yes. Funds from both the Home Key Plus second mortgage and the Community Development Down Payment Assistance program can be used to cover your down payment and eligible closing costs, significantly reducing the cash you need to bring to the closing table.

What is a "Target Area" in Pinellas County?

Target Areas are specific census tracts designated by the federal government as areas of chronic economic distress. To encourage homeownership here, the HFA program offers higher income and purchase price limits, and often waives the first-time homebuyer requirement for applicants purchasing homes in these zones.

Is there a purchase price limit for homes in Pinellas County?

Yes. For the HFA program in 2026, the maximum purchase price is $544,232 for homes in non-target areas and $665,173 for homes in Target Areas. The Community Development program generally caps the purchase price at $544,233.

Can veterans use the Pinellas County First-Time Homebuyer Program?

Yes, veterans are highly encouraged to apply. A key benefit for veterans is the "first-time homebuyer" exemption; veterans may use the HFA program to purchase a home even if they have owned a primary residence within the last three years.

What is the minimum credit score for Pinellas County housing assistance?

The Housing Finance Authority of Pinellas County generally requires a minimum middle FICO credit score of 660 for all applicants participating in their down payment assistance programs.

Does the program work with FHA loans?

Yes. The program is designed to work with FHA, VA, USDA-RD, and Freddie Mac HFA Advantage Conventional loans. The interest rates for these loans are set by the HFA and are often competitive (e.g., approx 6.00% for FHA/VA in current terms).

How long does it take to get approved for the Pinellas County program?

The timeline follows a standard mortgage process, typically taking 30 to 45 days from contract to closing. The most critical step is getting pre-approved by a participating lender early, as they handle the submission for the county assistance funds on your behalf.

Can I rent out the house if I use down payment assistance?

No. These programs are strictly for owner-occupied primary residences. If you rent out the home, sell it, or refinance it, you will trigger the repayment clause for the down payment assistance loan immediately.

The Application Process

Check Eligibility

Complete the form below to connect with an approved lender.

Education

Take the required Homebuyer Education class.

Shop

Work with your realtor to find a home within price limits.

Close

Secure your funding and move into your new home.