City of St. Petersburg Down Payment Assistance
Up to $75,000 toward your down payment for qualifying buyers in the City of St. Petersburg.
Call (727) 642-1166Buying a home in St. Petersburg with down payment assistance
The City of St. Petersburg offers down payment assistance to make homeownership more attainable for qualifying buyers. It is only for homes inside the City of St. Petersburg.
City and county down payment assistance programs do not work directly with buyers — a qualified mortgage company processes your application with the program. Generation Mortgage Associates processes your down payment assistance application and provides the first mortgage, an FHA or conventional loan depending on your credit score.
City of St. Petersburg down payment assistance at a glance
- Assistance up to $75,000
- Maximum purchase price $544,233
- Credit score 640+
- Income limits apply
- Borrower minimum contribution: 1% of the purchase price
- Typical closing time: about 60 days
- Only for homes within the City of Saint Petersburg
Not inside the city limits?
Homes in unincorporated Pinellas County can use the Pinellas County SHIP down payment assistance; Clearwater and Largo have their own programs (City of Clearwater down payment assistance, City of Largo down payment assistance). Anywhere in Florida, our all-Florida FHA program with a free 3.5% down payment has no income limits.
How it works with us
Before you start, read our steps to qualify for down payment assistance and the first-time home buyer programs in St. Petersburg guide.
Frequently Asked Questions
How much is the City of St. Petersburg down payment assistance?
Up to $75,000 for qualifying buyers, with a maximum purchase price of $544,233.
What credit score do I need?
A credit score of 640 or higher.
Are there income limits?
Yes, income limits apply to the City of St. Petersburg program.
How much do I need to contribute?
The borrower minimum contribution is 1% of the purchase price.
Can I apply with the city directly?
The program does not work directly with buyers; a qualified mortgage company processes your application. We do that and provide your FHA or conventional loan.
How long does it take to close?
About 60 days.
What if the home is outside the city?
Use the Pinellas County, Clearwater or Largo program, or the all-Florida FHA program with a free 3.5% down payment, which works anywhere in Florida.
Buying in St. Petersburg? Let’s check your down payment assistance.
Call (727) 642-1166Generation Mortgage Associates, LLC · 1155 South Pasadena S, Suite H, South Pasadena, FL 33707 · Call (727) 642-1166 · Monday–Friday, 9:00 AM–5:00 PM EST · NMLS 1283562. We are a private mortgage company, not affiliated with or endorsed by any government program, county, city, FHA or housing authority. Program terms are set by each program and can change; all loans are subject to approval.