National DPA: Down Payment Help With No Income Limits and No First-Time Requirement

If you earn too much for state programs, are not a first-time buyer, or state funding has run out — national DPA programs are your path forward. These are privately funded programs that operate year-round without the restrictions that limit Florida-specific options.

Chenoa Fund

Chenoa Fund is the most flexible DPA program available anywhere. Key facts:

• Amount: Up to 3.5% of the purchase price (covers your entire FHA down payment)
• Credit score: 600 minimum (lower than any state program)
• Income limits: None
• First-time buyer: Not required
• Funding: Continuously available — never runs out
• Structure options:
  • Repayable: 10-year second mortgage, 0% interest, fixed payments — paired with a lower first-mortgage rate
  • Forgivable: $0 owed after 36 consecutive on-time first-mortgage payments

Chenoa Fund math example

On a $350,000 purchase with FHA financing:

• FHA down payment (3.5%): $12,250
• Chenoa Fund covers: $12,250 (full 3.5%)
• Your out-of-pocket down payment: $0

If you choose the forgivable option and make 36 on-time first-mortgage payments, the $12,250 drops to $0. You effectively received a free down payment.

National Homebuyers Fund (NHF)

NHF is another strong national option with slightly different terms:

• Amount: Up to 5% of the loan amount
• Credit score: 640 minimum
• Income limits: None in most areas
• First-time buyer: Not required
• Structure options:
  • Grant: True grant — never repaid under any circumstances
  • 3-year forgivable: Forgiven after 3 years of owner-occupancy

NHF math example

On a $400,000 loan:

• NHF grant (5%): $20,000
• Applied to: Down payment + closing costs
• Repayment: $0 ever (if structured as a grant)

Bank of America Grants

Bank of America offers location-based grants that can combine for significant help:

• America's Home Grant: Up to $7,500 toward closing costs (lender credit)
• Down Payment Grant: Up to $10,000 toward down payment in qualifying areas
• Combined maximum: Up to $17,500 in true grants — never repaid
• Requirements: Must use BofA as lender, property in eligible census tract

Who should use national DPA?

National programs are the right choice when:

• Your income exceeds Florida program caps ($156,450+ in Hillsborough/Pinellas/Pasco)
• You are not a first-time buyer and do not qualify for a veteran exemption
• State funding (Hometown Heroes, FL Assist) has been exhausted for the year
• Your credit score is between 600-639 (below state program minimums)
• You want guaranteed availability without worrying about funding pools

Figures are 2026 estimates — your lender confirms current limits and funding availability.

National DPA vs. Florida state programs

Related programs

• Hometown Heroes — best state option if you qualify
• HFA Preferred Plus — forgivable state alternative
• FL Assist — simple $10K deferred
• County SHIP — local funds with lower income caps