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Tampa DARE down payment help hits record 71 closings

Published · Homebuyer update · By the DPA Finder editorial team

Tampa's Dare to Own the Dream program closed a record 71 home purchases in fiscal 2026 and is taking applications, with up to $50,000 for eligible first-time buyers.

The City of Tampa says its Dare to Own the Dream (DARE) Homeownership Program recorded 71 homebuyer closings in Fiscal Year 2026, beating its previous annual record of 70. The city puts total assistance for the year at $5.31 million, including East Tampa Community Redevelopment Area (CRA) funding, and says applications are open now.

DARE is a 0% interest, $0 monthly payment deferred second loan for income-eligible first-time buyers purchasing inside Tampa city limits. The city's program page lists the amount by household income: $50,000 at 50.01% to 80% of area median income (AMI), $40,000 at 80.01% to 120%, and $30,000 at 120.01% to 140%. Households at or below 50% AMI are not eligible. The loan is fully forgivable after 20 years if you still live in the home.

Other listed rules include a 600 middle credit score, a debt-to-income ratio no higher than 50%, a purchase price up to $450,000, and at least $2,000 invested by the buyer, with at least $1,000 from your own verifiable funds. You must start with one of the city's approved housing counseling agencies before going under contract, and use a loan officer and real estate agent on the city's approved lists. ARM loans are not allowed.

You can also compare the Hillsborough First DPA and statewide options like Florida Assist on our Florida page, read how forgivable down payment loans work, or follow our step-by-step application guide. Confirm current terms with the City of Tampa before you shop.

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