Conventional Down Payment Help: St. Pete and Nearby Counties

If you no longer fit a typical FHA-tied assistance program, you may still have down payment help. Some of it pairs with a conventional first mortgage. The City of St. Petersburg has its own homebuyer assistance, and Pasco, Hernando, Manatee, and Sarasota counties run homebuyer assistance programs of their own. Rules and funding change. Check current terms before you count on a dollar amount.

This complements my Fall 2026 Pinellas and Hillsborough down payment assistance guide. It is not a rewrite. Use that post for the Pinellas and Hillsborough programs. This one covers conventional and high-balance pairings, St. Petersburg, and the nearby counties. See also how Florida down payment assistance programs actually work and how much down payment you need in Florida.

Why would FHA assistance no longer fit?

Common reasons I see: income or price is above the current cap, you're not a first-time buyer under that program's definition, the first mortgage needs to be conventional (sometimes at a larger loan amount), or the condo or insurance bind is a problem on FHA. See FHA Loan Requirements in Florida. That does not automatically mean you have to bring the full down payment in cash. It means we look at conventional and local options instead. First-time buyer steps are in What are the first-time home buyer steps in Tampa Bay?

What conventional down payment help can look like

Florida Housing Finance Corporation offers down payment and closing cost assistance only when it is paired with a Florida Housing first mortgage, not as stand-alone help. On Florida Housing's homebuyer page (checked November 10, 2026), that first mortgage can be FHA, VA, USDA, or conventional, depending on the assistance type. Confirm the current credit, income, and purchase price limits on that page.

If FHA is no longer the plan, two details matter. Florida Assist and the Homeownership Loan Program second mortgages can be used with a conventional Florida Housing first mortgage, on current terms. Florida Housing also has a forgivable "PLUS" second mortgage that is available only with its conventional first-mortgage products. Amounts belong on Florida Housing's current page, or in the table in my fall 2026 guide, then updated for your file.

Fannie Mae also purchases first mortgages paired with a Community Seconds loan, which is down payment or closing cost help secured by a second mortgage or similar agreement. Those seconds can come from a city, county, state housing finance agency, or another eligible source. Whether a given second can be used with a high-balance conventional first depends on the program. Some allow a larger loan amount. Some don't. I check the current overlay on your file.

What should buyers check on City of St. Petersburg assistance?

The city offers assistance to first-time buyers purchasing a home, condo, townhome, or cooperative apartment inside city limits. See my St. Petersburg community guide for the area, then read the city's Housing Down Payment Assistance Program page. I checked that page on November 10, 2026.

As of that date, the page said assistance is a second mortgage equal to 20% of the sales price, plus $5,000 toward closing costs, up to $75,000. Buyers must make a minimum contribution set by the city, complete an 8-hour homebuyer education class from a HUD-approved housing counseling agency, keep the price at or below $544,233, have all inspection deficiencies fixed before closing, and apply for homestead after purchase. Income cannot exceed the city's posted limit. The page said loans for buyers at or below 80% of area median income are forgiven after 10 years of continued occupancy. For higher incomes, the terms depend on whether the home is inside the South St. Petersburg Community Redevelopment Area, and some of those tiers have to be repaid. The lender, not the buyer, submits the application.

Re-check funding the same day you plan to apply. On November 10, 2026, the city's page said the CRA-funded program was open and accepting applications, and that for homes inside the South St. Petersburg CRA it was still accepting applications up to 140% of area median income. The page was not consistent about the SHIP-funded program. The notice at the top and a note lower on the page said SHIP applications were closed or paused citywide, while another section said SHIP was reopening with limited funds. If the home is outside the South St. Petersburg CRA, don't count on SHIP funding until the city or your lender confirms it is taking new applications.

Homebuyer assistance in Pasco, Hernando, Manatee, and Sarasota

Figures below are from official pages checked November 10, 2026. Confirm them again before you rely on them. Several of these programs exclude manufactured homes and flood-hazard or sinkhole properties.

Pasco County. The county's Community Development page said it was accepting applications from low- and very-low-income buyers, up to 80% of area median income, who have not owned a home in the last 3 years. The home must be in Pasco County, with a maximum purchase price of $330,000. The page listed maximum assistance of $65,000 for very-low-income households and $50,000 for low-income households, as a second mortgage that is deferred and then forgiven after 30 years if you meet the program terms. The balance becomes due if you sell, rent the home out, lose the homestead exemption, or stop living there. A county-sponsored class and a county-approved lender are required.

Hernando County. The county's SHIP page describes a deferred, forgivable second mortgage for first-time buyers at or below 120% of area median income. The public FAQ stated a maximum award of $50,000. The county's application packet lists lower maximums as income rises: up to $50,000 at or below 50% of area median income, up to $30,000 from 50.01% to 80%, and up to $10,000 from 80.01% to 120%, with up to $20,000 more for needed repairs for buyers at or below 80%. The county's Local Housing Assistance Plan shows different figures for some tiers, so confirm the current award with the county. Applications go to Housing and Supportive Services in Brooksville, must include a mortgage pre-approval, and are not accepted by email or fax.

Manatee County. There are two programs, and they do not cover the same map. County SHIP assistance, per the county's guidelines and its May 1, 2026 income and purchase-price sheet, is a deferred loan that is forgiven at the end of its 20-year term if you still live there, and it has to be repaid if you sell, rent, lease, or move out before then. Homes must be in unincorporated Manatee County or the City of Palmetto. The posted maximum sales price was $400,000, and the posted maximum assistance was up to $70,000. A minimum buyer contribution, a required homeownership course, a certified lender, and a signed contract apply. Separately, the Housing Finance Authority of Manatee County offers first-time buyers a first mortgage that can be paired with a deferred second mortgage, and possibly a mortgage credit certificate, anywhere in the county, including Bradenton. The program guide says that second mortgage has to be repaid when you sell, refinance, rent the home, or move out, or at the end of its term, and is never forgiven. Confirm current HFA amounts on that site.

Sarasota County. The county HERO SHIP page said applications were open. It listed a deferred loan forgiven at 5% a year over 20 years if the home stays your primary residence, with a published maximum of up to $75,000. That maximum is not automatic. The county also posts a sample mortgage, note, and shared appreciation rider, so read those before you count on full forgiveness. Eligible areas listed were unincorporated Sarasota County, North Port, Venice, Osprey, Nokomis, and Englewood. Properties in the City of Sarasota are not eligible for this county program. If the home is inside the City of Sarasota, check with the city's housing office about any city program and its current funding, because this county program does not cover city properties.

What usually trips these files up

The first mortgage and the assistance have to work together. Some help comes due when you sell, refinance, or move out. Education often has to be finished on the program's timeline. City and county lines matter, especially in St. Petersburg, Palmetto, Bradenton, and Sarasota.

How I can help

I'm a Realtor, and I'm also a Mortgage Loan Originator. Each program named in this post has its own rules, funding, and participating lender requirements, and not every lender takes part in every program. I am not claiming that PMF, Inc. is a participating lender for any of them, so confirm lender participation for your purchase before you count on the assistance. I can help you see which first mortgage and assistance pairings may fit, and keep the contract and the reservation timing from working against each other. PMF, Inc. is a mortgage broker that works with many wholesale lenders, so I can compare options for your situation. Rates and terms vary by lender, program and borrower, and I can't promise any particular rate or approval. They are separate companies, and you don't have to use both. Bring your household income, the area you want, and whether you need a conventional first mortgage. Then book a consultation. When you're ready, apply for a loan. You can also compare options on Financing.

Common questions

If I no longer fit FHA assistance, is conventional help automatic?

No. Conventional assistance still has income, price, occupancy, and first-mortgage rules.

Can I use Florida Housing assistance with any conventional lender?

No. It has to be used with a Florida Housing first mortgage from a participating lender.

Is St. Petersburg assistance open right now?

It depends on the funding source and whether the home is in the South St. Petersburg CRA. On November 10, 2026, the city's page said the CRA-funded program was open, and its notices about SHIP funding were not consistent. Re-check the city's current notice before you count on it.

Sources, checked November 10, 2026: Florida Housing Finance Corporation homebuyer page; Fannie Mae Community Seconds page; City of St. Petersburg Housing Down Payment Assistance Program page; Pasco County Down Payment Assistance Program page; Hernando County SHIP Purchase Assistance page; Manatee County SHIP guidelines and May 1, 2026 income and maximum purchase price sheet; Housing Finance Authority of Manatee County; Sarasota County HERO SHIP Purchase Assistance page.

This article is for education only. It is not an offer of any loan terms and not a commitment to lend. Program rules change. We confirm what applies to your file.

Jonathan Loescher, Realtor, Florida real estate license SL3546365, Realty of America. Jonathan Loescher, Mortgage Loan Originator, NMLS 2621894. Mortgage loans are originated through PMF, Inc., NMLS 1980, a Florida licensed Mortgage Broker. Real estate and mortgage services are provided by separate companies, and you don't have to use both. Verify licensing at www.nmlsconsumeraccess.org. Equal Housing Opportunity.

Education only. This is not a commitment to lend. All loans are subject to credit approval, underwriting, and property eligibility. Not all applicants will qualify. Any loan approval is conditional until all underwriting conditions are met. Programs, rates, terms and conditions may change without notice.