Forgivable down payment grant for Florida homebuyers

Short answer

Yes. QMS Lending offers a down payment grant equal to 2% or 3.5% of the purchase price that you never repay and that puts no second lien on your home. It works with an FHA loan, needs a 620 minimum credit score, and is open to a wide range of buyers, not just first-timers.

How the grant works

The grant is paid at closing and goes toward your down payment. You choose between two sizes: 3.5% or 2% of the purchase price.

• No repayment. It is a gift toward your purchase, not a loan.
• No second lien. Nothing is recorded against your home, so there is nothing to pay off when you sell or refinance.
• Seller help still allowed. The seller can still pay up to 6% of the price toward your closing costs.
• Works with renovation loans. Use it with a standard FHA loan, an FHA repair escrow, or an FHA 203(k) limited or standard renovation loan.
• Fixed rate only. 20, 25 or 30-year fixed terms.

This grant program has no affiliation with HUD or FHA. It is offered through private lending partners and paired with an FHA first mortgage.

Who qualifies

You need a 620 minimum credit score and income and credit that meet FHA underwriting. Beyond that, the grant is open to a wide range of buyers. You may qualify if any one of these fits:

• Your household income is at or below 140% of the median income for your county or state
• You are a first responder: police, firefighter, public safety officer, paramedic or EMT (volunteers count)
• You are an educator
• You work in health care: nurse, doctor, phlebotomist, hospital or American Red Cross worker, or similar
• You are a federal, state or local government employee
• You are active military
• You are a first-time homebuyer
• The home is in an underserved census tract

If none of these apply, you can still use the grant as long as your income and credit meet FHA's standard underwriting.

Which homes are eligible

• 1 to 4 unit homes you will live in as your primary residence
• Condos in FHA-approved buildings (check any Miami building on HUD's FHA condo lookup)
• Townhomes and homes in planned communities (PUDs)
• Manufactured homes, including single-wide, multi-wide and manufactured home condo projects

The loan amount can't go above the lower of the conforming loan limit or your county's FHA limit. See Miami-Dade FHA limits.

Grant or Hometown Heroes?

You can't stack this grant with another down payment program, so pick the one that fits. QMS offers both.

• This grant: 2% or 3.5% of the price, never repaid, no second lien, FHA only, 620+ credit, first-time status not required.
• Florida Hometown Heroes: 5% of the loan ($10,000 to $35,000), but it is a 0% second mortgage you repay when you sell, refinance or move out. It requires first-time buyer status, an eligible job and a 640 credit score.

Want the bigger amount up front and have an eligible job? Hometown Heroes may fit. Want money you never pay back and no lien on the house? The grant usually wins. We run both side by side for you. See every option on our Florida down payment assistance page.

How to get it

1. Get pre-approved with QMS. We check your FHA eligibility and which grant size works best.

2. Complete a homebuyer education course from any HUD-approved counseling agency, online or in person. Framework is also accepted. We credit up to $100 of the course cost back to you at closing.

3. Shop for a home that fits the property rules above, then make your offer.

4. The grant is applied at closing. There is nothing to repay afterward.

Programs, limits and availability can change, and all loans are subject to credit approval. Call 305-425-1990 or get your quote to see if you qualify.