Funding Source
Federal Community Development Block Grant (CDBG)
Loan Terms
0% deferred loan, 20-year term. Forgiven after 20 years.
Location
Unincorporated Manatee County only.
Who Qualifies
- First-Time Homebuyers: Must not have owned a home in the last 3 years.
- Income Limits: Must earn within Very-Low or Low Income Limits (based on HUD guidelines).
- Location Requirement: Must purchase in Unincorporated Manatee County.
Assistance Details
Assistance & Home Value
Assistance available for homes with a value up to $400,000.
Repayment Terms
- 0% deferred loan, 20-year term.
- Forgiven if the buyer occupies the home for the full 20 years.
- Repayment is required if the home is sold, rented, leased, or vacated before the term ends.
Additional Requirements & Eligibility
Buyer Responsibilities
- • Buyer contribution: minimum $500
- • Must occupy property as primary residence
Property Standards
- • Must pass Housing Quality Standards (HQS) inspection
- • Homes built after 1978 only
- • Environmental review required before approval
Eligible Property Types
Single-family homes
Condos
Townhomes
No mobile homes
Why Choose CDBG?
The Community Development Block Grant program is designed to support affordable housing for low to moderate income families in specific unincorporated areas.
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Interest-Free Assistance
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Loan Forgiveness Options
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Federal Backing
Frequently Asked Questions
What is the Manatee County CDBG Down Payment Assistance Program?
The CDBG program provides federally funded down payment assistance to eligible first-time homebuyers purchasing in Unincorporated Manatee County. It offers a 0% interest, deferred loan to help cover down payment and closing costs, making homeownership more affordable for low-income families.
Who qualifies for CDBG assistance in Manatee County?
To qualify, you must be a first-time homebuyer who has not owned a home in the last three years. Additionally, your household income must fall within the Very-Low or Low Income limits as defined by HUD guidelines, and you must purchase a home in Unincorporated Manatee County.
How much down payment assistance can I get with CDBG?
The exact amount of assistance is determined based on need and program availability, but it can be applied towards the down payment and closing costs for homes with a purchase price up to $400,000.
Do I have to repay the CDBG down payment assistance loan?
The assistance is structured as a 0% interest deferred loan with a 20-year term. If you occupy the home as your primary residence for the full 20 years, the loan is completely forgiven. Repayment is only required if you sell, rent, lease, or vacate the home before the term ends.
Can I use CDBG assistance to buy a home in Bradenton?
No, the CDBG program is specifically for properties located in Unincorporated Manatee County. If you are looking to purchase within city limits like Bradenton, you may need to explore other programs such as the HFA Bond Program or SHIP (if eligible).
Is the CDBG program only for first-time homebuyers?
Yes, the program typically requires applicants to be first-time homebuyers, which is defined as someone who has not owned a principal residence during the three-year period ending on the date of purchase of the property.
What is the maximum home price for the CDBG program?
The maximum value for a home purchased with CDBG assistance is currently set at $400,000. This limit applies to single-family homes, condominiums, and townhomes eligible under the program.
How much money do I need to contribute for the CDBG program?
Borrowers are required to make a minimum contribution of $500 towards the transaction. This ensures the buyer has a personal investment in the property, while the program assistance covers the bulk of down payment or closing costs.
Can I buy a mobile home with CDBG assistance?
No, mobile homes are not eligible for purchase under the CDBG program. Eligible property types include single-family homes, condominiums, and townhomes. All properties must also pass a Housing Quality Standards (HQS) inspection.
What kind of homes can I purchase with CDBG funds?
You can purchase single-family homes, townhomes, or condos located in Unincorporated Manatee County. The home must have been built after 1978 and must pass a mandatory environmental review and Housing Quality Standards inspection.
What happens if I sell my home before 20 years with CDBG?
If you sell, rent, refinance with cash out, or stop living in the home as your primary residence before the 20-year term is up, you will be required to repay the assistance amount. The loan is only forgiven if you maintain occupancy for the full term.
Take the First Step
See if you qualify for CDBG or other Manatee County assistance programs.
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