City of St. Petersburg Purchase Assistance Program – 80% AMI

Special Alert

Maximum Purchase Price


Contact Info: 727-893-7247


Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Waiting Period: 10 years Affordability Period: 10 years Forgiven Portion: 100%

Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA

Homeowners Education Class:


Is Forgivable?

After 10 years of continued occupancy, the Purchase Assistance loan will be 100% forgiven and the City’s subordinate mortgage loan will be satisfied, and no monies will be owed to City.


St. Petersburg Property must be within the city limits of St. Petersburg, FL.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2023 80% AMI guidelines Uses HUD’s 80% AMI of Pinellas County.

Maximum Assistance

$60,000 Purchase Assistance is provided in the form of a subordinate mortgage loan not to exceed $60,000 and shall be made available to eligible homebuyers whose total household income does not exceed 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Community Development for the St. Petersburg geographic area. The loan amount is determined by the property’s sales price and costs associated with closing the transaction. An amount equal to 20% of the purchase price shall be attributed to the down payment and a maximum of $5,000 shall be provided to fund standard closing fees and service charges.

Education Requirements Info:

Homebuyers receiving assistance through the City’s Purchase Assistance Program are required to attend and receive a certificate of completion for an 8-hour Homebuyer Education Class provided by a HUD-approved housing counseling agency: Suncoast Home Solutions 727-442-7075 St. Petersburg Neighborhood Home Solutions 727-821-6897

Eligible Property Types:

Single Family Detached Condo Co-Op Townhome/PUD

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $48,650$55,600$62,550$69,500$75,100$80,650$86,200$91,750 *Income limits as of 05/30/2023

Qualifying Ratios:

Determined by first mortgage product or lender.