Housing Finance Authority Bond Program
Habitat for Humanity
Homebuyer’s Rights: Lenders are not allowed to discriminate in any way against a potential borrower. If a lender is refusing to provide services based on race, color, religion, sex, national origin, age, marital status, familial status, disability, sexual orientation, pregnancy, gender identity or expression, or veteran or service member status, contact HUD’s office of fair housing at 800-669-9777
Loan Fraud: Loan Fraud is purposely giving incorrect information when applying for a loan. Fraud may result in civil liability or criminal penalties. A victim of fraud or predatory lending can contact a HUD at 800-347-3735 to report it.
Downpayment and Purchase Assistance
The City's downpayment program seeks to help households reach the dream of homeownership.
The program can help with a 0% interest rate loan toward downpayment and closing costs.
- Households at or below 50% median income: Up to $75,000, loan is deferred for 25 years and forgiven after 25 years if remains in compliance during that time (federal HOME funding only)
- Households between 51-80% median income: Up to $75,000, loan is deferred for 5 years, 1/2 of loan is paid back in monthly payments over the next 20 years, and the other half is forgiven at the end of that term if remains in compliance during that time (federal HOME funding only)
- Households between 81-120% median income: Up to $40,00, loan is deferred for 5 years, and then full loan is paid back in monthly payments over 20 years (Limited funding available for this income level) (state SHIP funding only)
- Households between 121-140% median income: Up to $15,000, loan is deferred for 5 years, and then full loan is paid back in monthly payments over 10 years (Limited funding available) (state SHIP funding only)
- Additional down payment funds may be available through State Bond Program
- Income levels available to serve may be limited by funding availability throughout the year
To get started, contact the City's third-party program administrator:
Suncoast Housing Connections (727) 442-7075
General Eligibility Requirements
- Must qualify for a 30-year first mortgage through a lender
- Household must contribute at least $1,000 toward the purchase
- Home must be located in Largo City Limits (household does not have to currently live in City limits); and
- Household must be income-eligible
- Purchase price cannot exceed maximum the program's maximum purchase price (depends on funding source)
- Home must pass a Uniform Physical Condition Standard (UPCS) inspection
- Property cannot be in a Special Flood Hazard Area
- If purchasing a unit through the City's Affordable Housing Program, the program requires purchase by first-time homebuyers. The City's Sold on Largo Downpayment Assistance Program for other units does not have this requirement.
To get started, call one of the City's program administrator:
Suncoast Housing Connections at (727) 442-7075
Additional downpayment opportunities may also be available:
Pinellas County - (727) 464-8210
Pinellas Housing Finance Authority - (727) 223-6419
Downpayment Program Income Limits & Maximum Purchase Prices
Income Limits by Household Size (based on Tamp-St. Pete Area Median Income (AMI))
|Income Level||1 Person||2 People||3 People||4 People||5 People||6 People|
|50% Median Income*||$30,450||$34,800||$39,150||$43,450||$46,950||$50,450|
|80% Med. Income*||$48,650||$55,600||$62,550||$69,500||$75,100||$80,650|
|81-120% Med. Income||$73,080||$83,520||$93,960||$104,280||$112,680||$121,080|
|121-140% Med. Income||$85,260||$97,440||$109,620||$121,660||$131,460||$141,260|
Maximum Purchase Prices
The Maximum Purchase Price is different for the two funding sources used by the City. The majority of funding available for downpayment assistance comes from the Home Investment Partnership (HOME) Program, which is listed below for the Maximum Purchase Price. Your household must still be able to qualify for a first mortgage through a lender and then lender may qualify your household at a lower purchase limit than the limit listed below (what is affordable to your household).
- HOME Program Maximum Purchase Price: $342,000
- SHIP Program Maximum Purchase Price: $349,525.80
Homebuyer Classes & Counseling
Not sure if you are ready to buy a home? Completing a homebuyer class and using the free housing counseling services will help you explore the homeownership process and prepare you for buying a home.
Applicants for the Sold-on-Largo and Affordable Housing Development Homebuyer Assistance programs must complete a Homebuyer Education class and a one-on-one housing counseling session for eligibility for the program. The City contracts with the agency below to provide the class and counseling: Visit the links below for more information.
Household Budgeting/Credit Counseling:
- One-on-One counseling is available through Suncoast Housing Connections to help prepare you for homeownership.
Consejera de Vivienda
Clases para el Comprador de Casa:
Si usted está interesado en nuestro taller en español para el horario de clases y el registro, llame al (727)442-7075 a Suncoast Housing Connections.
Para Más Información: Suncoast Housing Connections
Se requieren clases para la asistencia de pago inicial.
Asesoramiento de Vivienda y Crédito:
- Mejurar su Crédito
- Hacer un Presupuesto
- Establecer Metas Financieras
Para Más Información: Suncoast Housing Connections
Para servicios legales (desalojo, discriminación) en sue lenguaje, contacte a:
Other Available Downpayment Programs
First-Time Homebuyer Key 1st Mortgage
Pinellas Housing Finance Authority offers up to $7,500 toward downpayment and closing costs. This can be used with the City's Sold on Largo program. When you apply for the City's program, ask about this program through the Housing Finance Authority funding as well. Pinellas County Purchase Assistance Program
Florida Hometown Heroes Housing Program
This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers to purchase a primary residence in the community in which they work and serve.
The Florida Hometown Housing Programs makes homeownership affordable for eligible frontline community workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans. For more information and eligibility requirements visit: Hometown Heroes (floridahousing.org)
Housing Choice Voucher to Homeownership
Do you already receive a Housing Choice Voucher from Pinellas County Housing Authority? If so, the Housing Authority has a program that can help apply your voucher toward your monthly homeownership cost so that you can reach your dream of homeownership.