Tampa's Dare to Own the Dream: Up to $50,000 for First-Time Buyers, Explained
Shebastian Burley, Realtor®
CENTURY 21 BE3 · Tampa Bay
What it is
The City of Tampa's Dare to Own the Dream program offers first-time buyers inside city limits up to $50,000 toward a home purchase. The assistance is a loan that is fully forgiven after 20 years of living in the home as your primary residence.
How much, by household income
- $50,000 for households at 50.01 to 80 percent of area median income (AMI)
- $40,000 at 80.01 to 120 percent of AMI
- $30,000 at 120.01 to 140 percent of AMI
- Households at or below 50 percent of AMI are not eligible under the current rules
The rules that matter
- Maximum purchase price: $450,000
- Minimum mid credit score: 600
- At least $2,000 of your own money, with $1,000 from verifiable funds
- Back-end debt ratio up to 50 percent
- Household income counts, not just the borrower's
The steps, in order
1. Start with an approved housing counseling agency: Housing and Education Alliance, R.E.A.C.H., Solita's House, or Tampa Bay Neighborhood Housing Services. 2. Get your reservation number. Do not go under contract before you have it. That is the mistake that disqualifies people. 3. Use a lender and a real estate agent from the city's approved lists. 4. Close, move in, and stay. The loan forgives over 20 years of owner occupancy.
The honest caveat
Funding opens and closes during the year. Reports in early 2026 said new reservations were on hold while the city waited for additional funds. Before you plan around it, check the current status with the City's Housing Information Line at 813-274-7954, or ask me and I will check for you.
*Source: City of Tampa Housing and Community Development, tampa.gov, page updated September 28, 2026. Program rules and funding change.*