State and Orange County programs that can cover your down payment and closing costs, and how to stack them the right way.
Reviewed and updated October 3, 2026 by Ryan and Megan Winslow, Winslow Homes
For most first-time buyers in Windermere, the monthly payment is not the hardest part. The cash needed at closing is. Florida Housing and Orange County both offer help, usually as a second loan that sits behind your first mortgage.
Assistance only works through approved lenders, and each program has income limits, price limits and education rules. Ryan and Megan are Mortgage Bankers with The Federal Savings Bank and licensed brokers, so they can match a program to the loan and to the house. Read the statewide down payment help guide for more.
Florida Housing Finance Corporation offers these through approved lenders in every county, including Orange County.
Up to 5% of the first mortgage, $10,000 minimum and $35,000 maximum, as a 0% deferred second mortgage over 30 years.
Up to $10,000 as a 0% deferred second mortgage.
Up to $12,500 at 3% fixed, fully amortizing over 30 years.
3%, 4% or 5% of the loan amount with a conventional first mortgage.
General Florida Housing rules: minimum 640 credit score, approved homebuyer education, county income and price limits, and no ownership of a primary residence in the past three years for first-time buyer programs.
The State Housing Initiatives Partnership (SHIP) sends state housing dollars to counties, which run their own purchase assistance. Orange County's program serves income eligible first-time buyers, and amounts depend on your income tier.
County programs open and close as funds allow. Check the Orange County program page for current status, then call Ryan and Megan so your loan approval is ready when funds open.
| Program | Amount | Structure | Works with |
|---|---|---|---|
| Hometown Heroes | 5% of first mortgage, $10,000 to $35,000 | 0% deferred, 30 years | Florida Housing FHA, VA, USDA, conventional |
| Florida Assist | Up to $10,000 | 0% deferred | Florida Housing first mortgages |
| Florida HLP | Up to $12,500 | 3%, 30 year monthly payment | Florida Housing first mortgages |
| HFA Preferred / Advantage PLUS | 3%, 4% or 5% of loan | Forgiven over 5 years | Conventional only |
| Orange County SHIP | Set by income tier | County deferred loan | Approved first mortgages |
Funding levels and limits change during the year. Ryan and Megan confirm availability for Windermere buyers before you reserve.
Assistance is almost always a second or third loan behind your first mortgage. The first mortgage type sets the rules for what can sit behind it.
Assistance covers the 3.5% down payment and closing costs. Budget for upfront and annual FHA mortgage insurance.
No down payment is needed, so assistance goes to closing costs and prepaid items.
HFA Preferred or Advantage PLUS pairs with reduced mortgage insurance and forgivable help.
Timing matters. State and county money can run out, so the buyers who get it are the ones with a completed approval and education certificate in hand.
Apply at WinslowLoan.com and get income, credit and assets reviewed.
Complete approved homebuyer education early.
Ryan and Megan check state and Orange County options together.
Stay under program price limits while you search Windermere.
Your lender reserves assistance once you are under contract.
Assistance requires the home be your primary residence.
Yes. Florida Housing programs work statewide, including in Windermere, and Orange County runs SHIP funded purchase assistance for income eligible first-time buyers. Availability depends on funding at the time you apply.
Up to 5% of the first mortgage, with a $10,000 minimum and a $35,000 maximum, as a 0% deferred second mortgage. It is for full-time employees of Florida based employers in eligible occupations, plus active military and veterans.
Often yes. Many buyers use a Florida Housing first mortgage with a state second and a county SHIP loan, as long as each program's rules allow the layering. Ryan and Megan check the combination before you sign a contract.
Most Florida Housing programs and county SHIP programs require that you have not owned and lived in a home in the past three years. Some Hometown Heroes and veteran rules differ, so ask.
Florida Housing generally requires a minimum 640 credit score, along with homebuyer education and county income and price limits.
Most is a deferred second mortgage repaid when you sell, refinance, transfer the home or stop living in it. HFA Preferred and Advantage PLUS assistance is forgiven 20% per year over 5 years.
A short call with Ryan and Megan can show which programs fit your income, job and the homes you want in Windermere.
Ryan and Megan Winslow are licensed real estate brokers in Florida, Massachusetts, Connecticut and Rhode Island and Mortgage Bankers with The Federal Savings Bank. Ryan Winslow NMLS 2426605. Megan Winslow NMLS 2692933. Email [email protected].
Sources: Florida Housing Hometown Heroes, Florida Housing homebuyer programs, Orange County SHIP purchase assistance, HUD Single Family Housing Policy Handbook 4000.1, VA.gov funding fee and closing costs, Zillow Home Value Index, U.S. Census Bureau QuickFacts. Updated October 2026. Rules change; confirm with Ryan and Megan before you act.
Instant answers on programs, payments, towns and homes, any time, in English or Spanish. Ryan and Megan follow up personally.
Estimates from your inputs only. Not a loan offer, rate quote or approval. Ryan and Megan, Mortgage Bankers with The Federal Savings Bank (NMLS #411500), confirm real numbers.
