"Dare to Own the Dream" (DARE)

Mortgage Assistance Program

Housing and Community Development Division

“Dare to Own the Dream” Homeownership Program

The City of Tampa offers down payment assistance loans to income eligible home buyers of property within the City limits of Tampa. The loan is in second position behind primary financing from a mortgage lender and is typically known as a “silent second” because of the 0% rate and $0 monthly payment. The Deferred Payment Loan (DPL) will become due and payable when the primary mortgage is satisfied or ownership is transferred, whichever comes first. The program provides up to $30,000.00 to assist income eligible first time home buyers to achieve the dream of home ownership.

Here are the basic highlights of the City-Wide “Dare to Own the Dream” Homeownership Program:

Potential buyer must begin process with one of the six approved Housing Counseling agencies and MUST NOT be under contract before receiving a reservation number. The Counseling agency will provide education, assist the client with application completion and collect the required documentation (See list of approved agencies below).
$30,000.00 max award toward down payment & closing costs: $30,000.00 to eligible buyers whose household income is 80% AMI or below; $15,000.00 to eligible buyers whose household income is above 80% up to 140% AMI.
 Due and payable when the first mortgage is satisfied or the property is sold, whichever comes first.
 Income calculated based on HOUSEHOLD income, not just the loan applicant.
 Household income must be at or below 140% Area Median Income (AMI).
 Debt ratios of 33/41%. Mid-Credit Score of 600.
 Maximum purchase price is $240,000.00 (if your income can qualify for the payment)
 Minimum of $2,000.00 investment from the borrower with at least $1,000.00 from borrower’s own verifiable funds. The additional $1,000 may include POC’s (appraisal, inspections, etc.)
 Loan types are flexible – Includes fixed and fully amortized products: FHA, VA and Conventional Affordable Housing Products allowed; ARM loans are not allowed.
 A full independent Home Inspection by the Buyer & a Pass HQS Inspection by the City are required before closing. 




The City of Tampa’s Housing and Community Development Division (HCD), through its Housing Counseling Agency partners, will be providing Homebuyer Education classes (English and Spanish), Homebuyer Counseling services and Mortgage Assistance Program for qualified home buyers. To participate, contact any of the following housing counseling agencies to begin the process:  

Participating Housing Counseling Agencies:

CDC of Tampa, Inc.
1907 E. Hillsborough Ave., Ste. 100
Tampa, FL 33610
(813) 231-4362

Housing & Education Alliance
9215 N. Florida Ave., Ste. 101
Tampa, FL  33612
(813) 932-HOME (4663)

4006 S. MacDill Ave.
Tampa, FL 33611
(813) 397-6208

Solita’s House, Inc.
3101 E. 7th Ave.
Tampa, FL 33605
(813) 425-4847