The Purchase Assistance programs is currently paused while we focus on a Disaster Assistance Grant for Hurricanes Helene and Milton. We are still accepting applications.
Loan funds are available to help homebuyers cover part of their down payment and closing costs when purchasing a home. The Home Purchase Assistance Program(PDF, 194KB) is funded through the federal HOME Investment Partnership (HOME Program) and the State Housing Initiatives Partnership (SHIP) Program.
The city of Clearwater, through its approved non-profit housing agencies, provides down payment and closing costs assistance to income-eligible households who meet program criteria. Assistance is provided in the form of a loan, 50% of which will be amortized over 20 years, payment on the other 50% will be deferred and forgiven at loan maturity, so long as no event of default exists. If the borrower defaults on any of the terms of the mortgage, the deferred amount will become due and payable. If the home is sold prior to the maturity date, the entire outstanding balance will be due to the City.
Payments will begin on the 50% amortized balance after a five-year deferral period. The property to be purchased must be the borrower’s principal residence and must be located within the city limits of Clearwater. For loans approved after July 1, 2024 the maximum loan amount is $75,000. The maximum sales price is $481,176 for both newly constructed and existing homes.
The Home Purchase Assistance Program is funded through the federal HOME Investment Partnership (HOME Program) and the State Housing Initiatives Partnership (SHIP) Program. In accordance with the Federal Fair Housing Act, or Title VIII of the Civil Rights Act of 1968, as amended in 1988. The City of Clearwater will not discriminate on the basis of race, color, religion, sex, disability, familiar status, age or national origin.