What is the Fort Pierce Home Purchase Assistance Program?

The City of Fort Pierce Home Purchase Assistance Program is a government-sponsored initiative funded by the State Housing Initiatives Partnership (SHIP). It is designed to bridge the financial gap for low-to-moderate income households who can afford monthly mortgage payments but lack the funds for a substantial down payment.

This program essentially acts as a "silent second mortgage," providing critical capital to cover entry costs so you can stop renting and start building equity in your own home.

Program Benefits & Terms

The City of Fort Pierce Home Purchase Assistance Program provides substantial aid to eligible buyers through SHIP funding. Here is exactly what the program provides.

$15,000 Assistance

Typical assistance amounts range between $10,000 and $15,000. Funds can be used for down payment and/or closing costs to reduce your out-of-pocket expense.

0% Deferred Interest

The loan is recorded as a second mortgage but carries 0% interest and requires no monthly payments. It is entirely deferred during the affordability period.

Potential Forgiveness

If you maintain the home as your primary residence for the full term (typically 10-15 years), the loan generally does not have to be repaid.

Happy new homeowner holding house keys after qualifying for Fort Pierce down payment assistance

Who is this program perfect for?

The Fort Pierce Down Payment Assistance Program is specifically tailored to help responsible residents overcome the hurdle of upfront cash requirements. It is an ideal solution for:

Renters Ready to Buy

You have steady income and good credit, but high rent has made it difficult to save the $15,000+ needed for closing.

Growing Families

Households needing more space that fit within the moderate-income limits (up to $110k for a family of 4).

First-Time Homebuyers

Those looking to establish roots in Fort Pierce and take advantage of 0% interest financing.

Core Eligibility Requirements

The City determines funding separate from your lender. To qualify for the 2026 cycle, applicants must meet specific property and borrower criteria.

  • Age of Home: Property must be 10 years old or newer.
  • Location: Home must be within Fort Pierce city limits.
  • Financing: Must secure a first mortgage.
  • Education: Pre-purchase homebuyer education course required.
  • Contribution: Must contribute at least $500 of your own funds.
  • Minimum Income: Household must have at least $30,000 gross annual income.

2026 Moderate Income Limits (Max)

Gross household income must be at or below these limits:

Household Size Maximum Income
1 Person $77,040
2 Persons $88,080
3 Persons $99,120
4 Persons $110,040
5 Persons $118,920
*Low and Very Low income categories also eligible.

Frequently Asked Questions

Common questions about the City of Fort Pierce Home Purchase Assistance Program.

How much down payment assistance can I get in Fort Pierce?
Eligible homebuyers can typically receive between $10,000 and $15,000 in assistance. This funding is provided as a zero-interest, deferred-payment second mortgage to help cover down payment requirements and closing costs associated with purchasing a home within city limits.
Do I have to repay the Fort Pierce down payment assistance?
Generally, no. If you occupy the home as your primary residence for the full affordability period (typically 10 to 15 years), the loan is forgiven and does not need to be repaid. However, selling the home, refinancing, or moving out before the term ends may trigger repayment.
What are the income limits for Fort Pierce homebuyer assistance?
Income limits depend on your household size. For the moderate-income category (up to 120% AMI), the 2024 limits cap at $110,040 for a family of 4. Households must also have a minimum gross annual income of $30,000 to qualify for the program.
What is the interest rate for the assistance loan?
The City of Fort Pierce provides this assistance as a 0% interest loan. It is a deferred second mortgage, meaning you make no monthly payments on this specific loan while you live in the home during the affordability term.
Can I buy any home in Fort Pierce with this program?
No. The property must be located within the Fort Pierce city limits and must be 10 years old or newer. This age restriction is a key difference between the Fort Pierce program and other county-wide assistance programs.
Is the Fort Pierce Home Purchase Assistance Program currently open?
The program opens and closes periodically based on available SHIP funding. For example, recent cycles have had limited funding windows (e.g., $150,000 allocated). It is critical to check eligibility early so you are ready to apply immediately when funds are released.
Do I need my own money for closing costs?
Yes. While the program assists with closing costs, borrowers are required to contribute at least $500 of their own funds toward the transaction. This is a minimum investment requirement to ensure borrower commitment.
What happens if I refinance my home later?
Refinancing the first mortgage typically triggers a requirement to repay the City's deferred loan. Exceptions may exist if the refinance reduces your interest rate or monthly payment and involves no cash out, but this requires City approval.
Does the City of Fort Pierce approve my mortgage?
No. The City only provides the second mortgage for assistance. You must secure a first mortgage approval from a participating lender separately. The City's funding decision is independent of your lender's approval.
Is homebuyer education required?
Yes. All applicants must complete a pre-purchase homebuyer education course. This class covers budgeting, the closing process, and homeownership responsibilities, ensuring you are prepared for the financial commitment of buying a home.
What credit score do I need for the program?
The City program itself does not publish a strict minimum credit score, but you must qualify for a first mortgage with a private lender. Most lenders participating in down payment assistance programs typically require a minimum credit score of 640 or higher.

Don't Miss Out on $15,000 in Assistance

Funding is limited and distributed on a first-come, first-served basis. Check your eligibility today to secure your spot in the 2026 program cycle.

See If You Qualify

No credit check required to view eligibility

Serving Communities Across the City of Fort Pierce

The Home Purchase Assistance Program helps buyers purchase homes located specifically within the city limits of Fort Pierce. We proudly serve homebuyers looking in key neighborhoods and zip codes throughout the area.

Downtown Fort Pierce Lincoln Park Fort Pierce South Sunrise Zip Code 34950 Zip Code 34947 Zip Code 34982

*Property must be within strict city limits to qualify.

See If You Qualify