07/28/2026
Homebuyer Assistance Program – Accepting Applications July 27, 2027
Program Overview
The Homebuyer Assistance Program (HAP) is funded through the U.S Department of Housing and Urban Development (HUD) Community Development Block Grant – Disaster Recovery (CDBG-DR) Program, allocated to the City of St. Petersburg in response to Hurricanes Idalia (DR-4734-FL) and Helene (DR-4828-FL). The program helps qualified homebuyers transition into stable, long-term housing within the City of St. Petersburg.
HAP is designed to support eligible households by providing financial assistance to reduce barriers to homeownership. The program will provide eligible low-to-moderate- and middle-income households with financial assistance toward down payments, closing costs, and/or principal reduction.
Program Highlights
Up to $80,000 in assistance per household
Program assistance may include:
Subsidizing interest rates and mortgage principal guarantees
Acquiring guarantees for mortgage-financing obtained
Providing up to 100% of any lender-required down payment
Paying up to $10,000 in closing costs (normally associated with the purchase of a home) incurred
Assistance will be provided through a 0% interest deferred loan
No monthly payments required
Loan forgiven over 5 years (20% annually), if program requirements are met
Can be combined with other eligible assistance programs
Lenders play a key role in application process and must submit applications on behalf of homebuyers
Program Eligibility
You may be eligible if:
You lived in St. Petersburg during Hurricane Idalia and/or Helene
You meet program income requirements. HUD requires that the majority of program funds benefit low-to-moderate income households (earning up to 80% AMI), with limited assistance available for middle income households (earning up to 120% AMI).
You are able to obtain a mortgage pre-approval from a lender
You are looking to purchase a home in St. Petersburg that you will occupy as your primary residence for a minimum of five (5) years
You do not currently own another residential property