State Guide

First-Time Homebuyer Programs in Florida

Last updated: June 17, 2026

Overview

Florida offers one of the most active first-time homebuyer assistance landscapes in the country, driven by high home prices in coastal markets and a state government that has consistently funded down payment and closing cost programs. The primary administrator is Florida Housing Finance Corporation (Florida Housing), a state agency that works through a network of approved lenders to deliver below-market mortgages, down payment grants, and tax credits to eligible buyers statewide. Local city and county programs layer on top of state assistance in many markets, making Florida one of the few states where buyers can meaningfully stack multiple sources of aid.

Down Payment Assistance Programs

Florida First. Florida Housing's flagship mortgage for first-time buyers. Offers a 30-year fixed-rate FHA, VA, or USDA loan at a below-market interest rate. Must be paired with one of Florida Housing's down payment assistance programs. Available statewide to buyers who meet income and purchase price limits.
Florida Advantage. A conventional loan option (Fannie Mae HFA Preferred or Freddie Mac HFA Advantage) for buyers who qualify - typically those with stronger credit scores who want to avoid FHA mortgage insurance. Pairs with the same down payment assistance programs as Florida First.
Florida Assist (Second Mortgage). Provides up to $10,000 in down payment and closing cost assistance as a 0% interest deferred second mortgage. No monthly payments - the balance is due only when you sell, refinance, or pay off the first mortgage. Available statewide paired with Florida First or Florida Advantage.
Florida Homeownership Loan Program (FL HLP). Offers up to $10,000 as a 3% interest second mortgage with a $100 monthly payment over 15 years. Unlike Florida Assist, this is a repayable loan rather than a deferred balance. The tradeoff is that it may be easier to qualify for in some underwriting scenarios.
HFA Preferred and HFA Advantage PLUS. Down payment assistance of 3%, 4%, or 5% of the loan amount structured as a forgivable second mortgage. Forgiven at 20% per year over five years - meaning if you stay in the home five years, the balance is fully forgiven. This is the most commonly used DPA structure for Florida buyers who plan to stay long-term.
Salute Our Soldiers Military Loan Program. Exclusively for active duty military, veterans, and surviving spouses. Offers a below-market fixed-rate mortgage paired with down payment assistance of up to 5%. Does not require first-time buyer status - any eligible military borrower can use it regardless of prior homeownership.

City and County Programs Worth Knowing

Florida's local assistance programs are among the most generous in the country and are frequently overlooked.

Orange County (Orlando area). The Orange County Down Payment Assistance Program offers up to $35,000 for eligible buyers purchasing in Orange County, structured as a deferred second mortgage forgiven after 10 years.
Miami-Dade County. The Home Access Program provides up to $35,000 for first-time buyers in Miami-Dade, with income limits tied to area median income. Given Miami home prices, stacking this with state assistance is often essential.
City of Tampa. Tampa's Community Redevelopment Agency offers assistance programs targeting specific neighborhoods, with amounts varying by zone. The Tampa Mortgage Assistance Program has provided up to $14,900 in recent cycles.
City of Jacksonville. The City of Jacksonville offers forgivable loans of up to $7,500 for down payment and closing costs for buyers purchasing within city limits.

These programs change frequently and funding can be exhausted mid-year. Always confirm availability directly with the administering agency or an approved lender before counting on local assistance.

Income and Purchase Price Limits

Florida Housing income limits vary by county and household size, generally ranging from $90,000 to $130,000 in most markets. High-cost counties including Miami-Dade, Broward, Palm Beach, and Monroe have higher limits reflecting local median incomes. Purchase price limits typically range from $350,000 to $450,000, with higher ceilings in federally designated targeted areas. As of 2025, Florida Housing has periodically raised purchase price limits in response to rising home values - confirm current figures at FloridaHousing.org or with an approved lender before assuming a property qualifies.

FHA Loan Requirements in Florida

FHA loans are the most common mortgage product used by first-time buyers in Florida and are fully compatible with Florida Housing's down payment assistance programs.

Minimum requirements to qualify for an FHA loan in Florida:

Credit score: 580 or higher for 3.5% down payment. Scores between 500 and 579 may qualify with 10% down at lender discretion.
Down payment: 3.5% of the purchase price with a 580+ credit score. Florida Housing DPA programs can cover this entirely.
Debt-to-income ratio (DTI): Generally 43% or below, with lender flexibility up to 50% for borrowers with compensating factors such as strong cash reserves or a long employment history.
Employment history: Two years of consistent employment or verifiable income history.
Primary residence: FHA loans require owner occupancy - not eligible for investment properties or vacation homes.
Mortgage insurance: FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount at closing, plus an annual premium of 0.45% to 1.05% depending on loan term and down payment size.

FHA loan limits in Florida for 2025:

FHA loan limits vary significantly by county in Florida given the wide range of home prices across the state. Standard single-family limits in most inland counties are $524,225. High-cost coastal counties have higher limits - Monroe County (Florida Keys) reaches the national ceiling. Confirm the current limit for your specific county at HUD.gov before assuming a property qualifies.

FHA property requirements in Florida:

Florida's climate introduces a few property considerations that come up more frequently in FHA appraisals than in other states. An FHA-approved appraiser will flag:

Roof condition and remaining useful life - FHA requires at least two years of useful life remaining
Evidence of water intrusion, mold, or moisture damage - common in Florida's humidity
Wind mitigation - not an FHA requirement directly, but affects insurability, which affects loan approval
Flood zone status - FHA does not prohibit flood zone properties but requires flood insurance, which has become a significant cost factor in Florida

Properties that fail FHA inspection can still close if the seller makes required repairs before closing, or if the buyer uses an FHA 203(k) rehabilitation loan to roll repair costs into the mortgage.

Stacking FHA with Florida state assistance:

The most efficient structure for most Florida first-time buyers is an FHA loan through Florida Housing's Florida First program (for the below-market rate), paired with the HFA Preferred PLUS forgivable second mortgage for down payment and closing costs, and a Florida MCC for annual tax savings. An approved Florida Housing lender can confirm which combination applies to your income, credit profile, and target county within a single conversation.

Florida Mortgage Credit Certificate (MCC)

Florida Housing offers a Mortgage Credit Certificate that converts a portion of the mortgage interest you pay each year into a direct federal tax credit. The credit is worth 50% of annual mortgage interest paid, up to a maximum of $2,000 per year, and remains in effect for the life of the loan as long as the home is your primary residence. Unlike a tax deduction, the MCC reduces your tax bill dollar for dollar. A buyer with a $250,000 mortgage at 7% interest paying roughly $17,500 in interest the first year would receive a $2,000 tax credit - the annual maximum - every year they remain in the home. The MCC is compatible with Florida First and Florida Advantage loans and is issued at closing through an approved lender.

How to Apply

Confirm first-time buyer status - you have not owned a primary residence in the past three years. Veterans and buyers in federally targeted areas are often exempt from this requirement.
Check your credit score. Florida Housing programs generally require a minimum of 640 for conventional loans and 600 for FHA. The FHA minimum is 580, but state program overlays are typically higher.
Review current income and purchase price limits for your county at FloridaHousing.org.
Research local city and county programs in your target market - these can add thousands in additional assistance on top of state programs.
Select an approved lender from Florida Housing's participating lender directory. The lender must be approved by Florida Housing specifically, not just FHA-approved.
Complete a HUD-approved homebuyer education course. Florida Housing requires this for all programs - most courses are available online for $75 to $100 and take 6 to 8 hours.
Apply through your approved lender, who will coordinate the state assistance application, MCC issuance, and any local programs simultaneously.

FAQ

What credit score do I need for first-time homebuyer programs in Florida?

Florida Housing sets a minimum of 640 for conventional loan programs and 600 for FHA-backed programs. The FHA itself allows scores as low as 580 for 3.5% down, but Florida Housing's overlay is higher. If your score is between 580 and 599, an FHA loan is still available through non-Florida Housing lenders, but you would not be eligible for the state down payment assistance simultaneously.

Can I use Florida Housing assistance with an FHA loan?

Yes. Florida First is specifically designed as an FHA loan vehicle and pairs directly with Florida Housing's down payment assistance programs. This is the most common loan structure used by first-time buyers in Florida.

How much down payment assistance is available in Florida?

Through Florida Housing's state programs, buyers can access up to $10,000 through Florida Assist or FL HLP, or 3% to 5% of the loan amount through the HFA Preferred PLUS forgivable second. In high-cost counties like Miami-Dade and Orange County, local programs can add up to $35,000 on top of state assistance.

Is Florida expensive for first-time buyers?

Florida's coastal markets - Miami, Fort Lauderdale, Tampa, Orlando, Jacksonville - have seen significant price appreciation since 2020, making affordability a genuine challenge. The combination of state programs, local assistance, and MCC tax savings can meaningfully close the gap, but buyers in high-cost coastal markets will face tighter qualification hurdles due to purchase price limits. Inland and northern Florida markets remain more accessible.

Do Florida first-time buyer programs work in all 67 counties?

Florida Housing programs are available statewide across all 67 counties. Income limits, purchase price limits, and available assistance amounts vary by county. Some rural counties also qualify for USDA loans, which offer 0% down with no FHA mortgage insurance requirement - worth confirming for buyers outside metro areas.

How long does it take to close using Florida Housing programs?

Expect 30 to 45 days, consistent with a standard mortgage timeline. Florida Housing loans do not inherently take longer than conventional mortgages, but working with a lender who processes Florida Housing loans regularly reduces the risk of delays. Avoid lenders who are technically on the approved list but rarely use the programs - ask directly how many Florida Housing loans they close per month.

What happens to my Florida Assist second mortgage if I sell the home?

The Florida Assist deferred second mortgage becomes due and payable when you sell, refinance, or pay off the first mortgage. It does not accrue interest, so the amount you repay equals the amount you borrowed. The HFA Preferred PLUS forgivable second, by contrast, forgives 20% of the balance per year - if you sell after five or more years, nothing is owed.