Florida

Down payment assistance for Florida

Two programs listed below can help with the cost of buying a home in Florida, and each can sit inside a riba-free structure.

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Florida Housing

Along with a fixed mortgage program for first-time homebuyers, Florida Housing also offers assistance programs to aid cover the down payment and closing costs associated with the purchase.

Click here for products under the Florida Housing Program.

Learn more about the program here

Requirements

Minimum Credit Score of 640.

Must work with an approved, participating, Program Lender

"Approved" Home Buyer Education is required to be completed.

Property purchase price must be below the limits for the county in which you purchase.

Income must be below the limits for the county in which you purchase.

Cannot have owned AND occupied your primary residence for the last three years prior to purchase

Florida Housing Program Products

Florida Assist Program

Up to $10,000 on FHA, VA, USDA, and Conventional loans
0%, non-amortizing, deferred second mortgage

FL HLP Second Mortgage

Up to $12,500
3% fully-amortizing, second mortgage
30-year term

HFA Preferred / Advantage PLUS

Can receive 3%, 4% or 5% of the total loan amount
Forgivable second mortgage at 20% annually

Hometown Heroes

Another program by Florida Housing, Hometown Heroes makes owning a home more affordable for eligible applicants working under Florida-based employers. This program provides down payment and closing cost assistance of up to 5% of the total mortgage amount in a 0%, non-amortizing, 30-year deferred mortgage.

Learn more about the program here

Requirements

Must be a full-time employee under a Florida-based employer as an eligible occupation

Servicemember under US military or military reserves, US Coast Guard or reserves, or Florida National Guard

Veteran employed full-time by a Florida-based employer

Available programs

Features of Sharia-compliant programs

Through partnerships with investors, ijaraCDC offers a diverse list of programs that will fit the needs of any Muslim home buyer.

No Credit Program

Get a home even without established credit history.

Low Credit Program

Low credit score? No problem!

VA Program

Take advantage of VA housing offers for veterans.

Down Payment Assistance

Get up to 3.5% grant for your down payment.

USDA 100% Financing

100% financing for homes in USDA-designated areas.

Physician Program

Helping residents reside in their forever homes the sharia way.

Frequently asked questions

Florida down payment questions

Our team answers by phone or email during business hours, and confirms what is available where you are buying.

Is down payment assistance available in Florida?

Yes. The two programs listed above can help with the cost of buying in Florida, and ijara CDC can pair them with a riba-free structure.

Can DPA be used with Sharia-compliant financing?

Yes. The assistance covers your contribution to the co-ownership, and the agreement itself stays free of riba.

How much can I receive?

It depends on the program and your household income. Contact us for the current position where you are buying.

How long does pre-qualification take?

About ten minutes, and it does not affect your credit.

What can I finance in Florida?

Residential and commercial property, plus residential and auto conversions from an existing riba-bearing loan.