Скачать или смотреть First Time Home Buyers Must Know This Before Getting Down Payment Assistance Loan

Are you trying to buy a home in Florida in 2026 but don’t have a big down payment saved? In this video I break down Down Payment Assistance (DPA) in Florida the simple way — what it is, how it works, and the real pros and cons most buyers don’t find out until it’s too late.

I’m Luis Mendez, a Central Florida Realtor, and I’ve helped many buyers move into homes with very little money out of pocket by combining down payment assistance with seller credits (when the deal allows it). But DPA is not “free money” in most cases, and some programs can make your offer harder to win, take longer to close, or raise your monthly payment.

In this video you’ll learn:

The 3 most common types of down payment assistance (forgivable, deferred, repayable second mortgage)

Why some down payment assistance programs aren’t actually “free”

How DPA can affect your interest rate and monthly payment

When sellers may reject DPA offers (and how to make your offer stronger)

Why certain programs can take 60–90 days to close

Income limits, price limits, and location rules that can disqualify you

How DPA can affect refinancing later

When down payment assistance is a smart move (and when it’s not)

If you want a personalized plan (DPA vs FHA vs Conventional), comment below with:

Your county in Florida

Your target monthly payment

About how much you have saved

Need help buying in Central Florida?
Call/Text: 407-796-232 (Luis Mendez)

(Real estate info can change by program and lender. Always confirm details with your licensed lender.)

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📍 Chapters:
00:00 Intro: Florida market + why buyers are winning right now
01:34 Real example: moving into a home with low out-of-pocket costs
02:03 What is Down Payment Assistance (DPA)?
02:49 1) DPA is NOT always free money
03:18 The 3 common DPA types explained
04:34 What happens if you sell or refinance early
05:38 2) Higher interest rates (the hidden cost)
07:17 Real client example: compare two DPA options
10:21 3) Why sellers may reject DPA offers
12:13 Program warning: stricter DPA requirements + delays
15:43 Income limits, price limits, location limits
16:35 Best-case strategy: when new construction can help
17:52 4) Refinancing later can get complicated
19:20 5) Monthly payment reality check
20:57 When conventional is better (if possible)
21:38 Emergency repairs: why keeping cash matters
23:09 6) When DPA is actually a great option
26:46 Next steps + how to get help

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📍 Additional Communities Mentioned:
Hilltop, Haines City
New Community in Lake Hamilton
Conveniently located near Orlando, Disney, and community amenities like pools.

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Luis Mendez | Polk County, FL Real Estate Expert
💼 Licensed Real Estate Agent in Florida
🏡 Brokered by Exp Realty LLC

#RichmondAmericanHomes #LakeWalesRealEstate #LuisMendezRealtor #PolkCountyRealEstate