Grant Amount and Terms

Pinellas County provides Housing Grants up to $75,000 to assist with down payments and closing costs. The funds are in the form of a loan at 0% interest, with repayment required upon sale, transfer, lease, refinancing, or when the property is no longer used as the primary residence. The loan cannot be used to pay off other debts, and no cash back is permitted at closing.

Borrower Eligibility Requirements

The Pinellas County Homebuyer Down Payment Assistance Program is designed for first-time homebuyers who meet specific criteria. To qualify:

Borrowers must not have owned a home within the past three years and must be U.S. citizens or legal residents.

Household liquid assets cannot exceed $50,000, excluding retirement accounts. Borrowers must have the required personal funds for the type of first mortgage selected.

Completion of a HUD-approved homebuyer education class is mandatory, with certification valid for one year.

Borrowers must contribute at least $1,000 of their own funds, which can include expenses such as earnest money, appraisal fees, home inspection fees, or homeowner’s insurance, documented as paid outside closing.

Annual Income limits are provided below. If first mortgage guidelines impose stricter income limits, those guidelines will take precedence.

Property Eligibility Requirements

The program applies to properties located within unincorporated areas of Pinellas County or cooperating cities. Eligible properties must meet the following conditions:

Must be single-family homes, condominiums, or townhomes (detached or attached) with a permanent foundation and utility hookup.

Properties must either be vacant, owner-occupied, or occupied by the homebuyer at the time of purchase.

The acquisition limit is $349,525. Properties exceeding this value are not eligible.

All properties are subject to inspection to ensure compliance with program standards. Newly built properties may provide a Certificate of Occupancy dated within six months of closing in lieu of an inspection.

Loan and Occupancy Requirements

Borrowers must meet specific loan and occupancy requirements:

The borrower(s) must occupy the property as their primary residence, and all co-borrowers must also occupy the property.

Borrowers cannot own any other residential property at the time of closing.

The second mortgage is a deferred loan at 0% interest. Repayment is triggered upon sale, transfer of title, refinancing with cash-out, or when the borrower ceases to occupy the property as their primary residence.