Buying your first home in Florida? Yeah, it’s a huge deal. And if you’re feeling overwhelmed with down payments, closing costs, and figuring out if you even qualify—you’re not alone. Good news: Florida has some solid programs to help first-time home buyers get a place of their own. Some offer lower interest rates. Others help with down payments or even make closing costs more manageable. But which one is best for you? We’re going through the best first-time home buyer programs in Florida, breaking down what they offer, who qualifies, and how they stack up.
Why First-Time Home Buyer Programs in Florida Matter
Florida’s real estate market moves fast. Home prices are climbing, and for many buyers, saving for a down payment is the biggest hurdle.
That’s where these programs come in. They help make buying your first home more affordable by offering:
- Down payment assistance – Get help covering that huge upfront cost.
- Lower interest rates – Save money over the life of your loan.
- Loan forgiveness – Some programs eliminate debt after a few years.
- Help with closing costs – Reduce what you need at the closing table.
If you qualify for even one of these, it can make a massive difference.
Best First-Time Home Buyer Programs in Florida
Here’s a look at some of the most popular programs for first-time buyers:
Florida HFA Preferred & HFA Advantage
This program is a solid option if you’re looking for low mortgage insurance costs and financial help with your down payment.
Perks:
- Up to 5% of your loan amount in down payment and closing cost assistance
- No repayment required as long as you stay in the home
- Lower mortgage insurance costs, which means smaller monthly payments
Who qualifies?
- First-time home buyers
- Individuals within program income limits
- Minimum credit score: 640
The Florida Housing Finance Corporation runs the program, and it’s a favorite for anyone who needs help with upfront costs.
Florida Assist
If you need serious help with your down payment, this one’s worth a look. Florida Assist provides up to $10,000 in down payment assistance.
What makes it different?
- 0% interest on the loan
- No monthly payments
- Loan is deferred—meaning you don’t pay it back until you sell, refinance, or stop using the home as your primary residence
One drawback? It’s not free money. You’ll have to pay the loan back at some point. But if you’re short on cash to buy a home right now, this could make a huge difference.
Florida Homeownership Loan Program (FL HLP)
This is another down payment assistance program, but instead of being deferred, it comes with a 3% interest rate on a 15-year second mortgage.
Key details:
- Can borrow up to $10,000
- Must be repaid in full over 15 years
- Higher monthly payments because it’s an active loan
Not deferring the loan means you’re paying it off sooner, which is great if you don’t want lingering debt long-term.
FAQs
Who qualifies as a first-time home buyer in Florida?
A first-time home buyer is anyone who hasn’t owned a home in the last three years. Some exceptions apply, like if you’re a veteran.
How much can I get in down payment assistance?
It depends on the program. You could qualify for up to $10,000 in some programs or even receive a percentage of your loan amount as assistance.
Does Florida forgive first-time home buyer loans?
Some programs, like HFA Preferred and Florida Assist, don’t require repayment as long as you meet residency requirements. Others, like FL HLP, must be paid back.
Conclusion
We’re just getting started. There are even more ways first-time home buyers in Florida can get a better deal. Keep reading to see how you can make your dream home a reality.