Down Payment Assistance
Down Payment Assistance
Generation Mortgage Associates works closely with the City of St Petersburg (Win Program) and the Tampa Bay CDC, to provide down payment assistance to low and moderate income households.
Comparing Programs
Win Program
- Saint Petersburg: up to $16,000
- Property Price: $158,000 max. existing homes and new construction up to $203,000
- School Requirement: 8 hours, call (727) 893-1313
- Your contribution: 2% from your pocket
- This is a 2nd loan, you start making payments from the first month
- The loan is for 240 months, after 120 payments the balance is forgiven
Tampa Bay CDC
- Clearwater (tax code CW): $14,000
- Largo (tax code LA): up to $25,000
- School Requirement: 8 hours, call (727) 442-7075
- Unincorporated Pinellas County (all other tax codes except SP): $10,000
- Max. Property Price:
$158,000 - Clearwater (Properties with Tax Code CW)
$138,000 - Largo (Properties with Tax Code LA)
$158,000 - Unincorporated Pinellas County - Your contribution: 2% from your pocket
- Income Certification Fee: ($25.00 for one person; $40.00 for two people - non refundable)
- This is a 2nd loan, you start making payments after the 5th year
Income pre-qualification
| People living in the house | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
|---|---|---|---|---|---|---|---|---|
| Max. Income 80% | $33,050 | $37,800 | $42,500 | $47,200 | $51,000 | $54,800 | $58,550 | $62,350 |
How to calculate?
If the total number of people living in the house is 5, these means the total income of all the people living in the house can't exceed $49,600