First-time homebuyer programs in Florida.

Who qualifies as a first-time homebuyer in Florida?

For Florida Housing’s standard program, the starting test is no ownership and occupancy of a principal residence during the previous three years. Its overview lists a 640 minimum credit score, county income and purchase limits, approved education and a participating lender. These are program rules, not a universal Florida mortgage standard; exceptions and additional lender requirements need review.

Before choosing a program, confirm whose income counts, household size, prior ownership dates, the property address and any military or occupation-based eligibility. A mortgage preapproval does not settle those separate assistance questions.

Some assistance programs use total household income, while a mortgage program may use qualifying borrower income. Passing one income test does not establish that the other is satisfied. Confirm the rules for each program.

You do not always need 20% down. These educational examples describe eligible primary-home purchases, not a quote or approval. Property type, underwriting and lender requirements can change the down payment.

Low down payment does not mean low cash to close. Closing costs, prepaid taxes and insurance, any required reserves and an appraisal shortfall can require additional funds. A mortgage listed here does not automatically qualify for Florida Housing assistance; its approved first-mortgage product and participating lender must be confirmed.

Program details checked October 24, 2026. These are educational summaries of administrator programs, not offers or confirmation that Bennett Capital Partners participates in each program. Confirm the approved lending channel, current funding and compatibility before relying on assistance.

Florida Housing assistance must accompany its eligible first mortgage; it is not standalone funding. FL Assist and FL HLP can become payable upon sale, transfer, refinance, payoff of the first mortgage or loss of primary occupancy. Review the documents for exact triggers. See Florida Housing’s official program overview.

Hometown Heroes has separate occupational rules.

Hometown Heroes serves first-time, income-qualified buyers purchasing a primary residence, subject to program exceptions and requirements. The current program covers specified full-time Florida-based health care, school, first-responder, public-safety, court and child-care workers, qualifying military members, and veterans employed full-time by a Florida-based employer. It is not open automatically to everyone working in Florida.

Published assistance is up to 5% of the first mortgage, with a $10,000 minimum and $35,000 maximum. It is a 0%, 30-year deferred second mortgage, not a forgivable grant. Sale, first-mortgage refinance, deed transfer or ending primary occupancy can trigger full repayment. Income, loan limits, occupation and funding must be confirmed through the official Hometown Heroes program. A published program page does not reserve funds.

Find the correct assistance administrator.

Start with the property address. Choose a statewide resource or the local office for your area.

Confirm before you apply: A listed program does not guarantee available funding or permission to combine assistance. Check current rules with the administrator.

SHIP-supported and other local programs have their own applications, funding cycles and rules. A Miami mailing address does not establish City of Miami eligibility. The City of Miami process requires a property within city limits, an accepted counseling workshop and a participating lender submission. Its deferred loan also has resale and shared-gain provisions to review. Ask the administrator for the current purchase-price limit before signing a contract.

Do not assume state, city, county or employer assistance can be stacked. Ask each administrator and the first-mortgage lender to approve the combination, lien position and total assistance.

The program name alone does not tell you the obligation. Review the note, mortgage, deed restrictions and program documents. Ask how assistance affects refinancing, renting the property or selling later. Obtain the appropriate legal advice for terms you do not understand.

How much cash will you need to buy?

The down payment is only one line in the closing budget. Ask for a Loan Estimate and an itemized assistance calculation, then keep a separate reserve for moving, repairs and ownership expenses.

Arithmetic: $10,500 + $9,500 − $10,000 − $3,000 = $7,000. The $3,000 deposit is part of your own funds already paid, not additional assistance. This assumes both credits are accepted and all listed costs are eligible. If assistance is unavailable, additional closing cash rises to $17,000 under the same assumptions. Appraisal gaps, required reserves, repairs and moving costs are not included.

Compare the rate, payment and assistance together.

There is no single first-time-buyer interest rate. Compare written proposals for the same property, loan amount and lock period, including APR, points, mortgage insurance, second-loan payments and cash to close. Ask for an eligible option with assistance and one without it. A larger award can come with different pricing or repayment restrictions; the lowest initial cash requirement may not produce the lowest overall cost.

Use our home affordability calculator and homebuyer budget planner to prepare your numbers.

Include homeowners insurance, applicable flood insurance, property taxes, association dues, utilities and maintenance. A seller’s current tax bill may not represent your future cost. Request property-specific estimates before finalizing your budget.

For a condo, also review association finances, assessments and the lender’s project requirements. Our condo loan guide explains why borrower preapproval does not approve the building.

1. Review the budget, income, credit and available funds.
2. Identify the first mortgage and any compatible assistance program.
3. Complete the accepted education or counseling requirement when needed.
4. Confirm application, reservation and contract timing with the participating parties.
5. Review the selected home, appraisal, insurance and association requirements.
6. Satisfy underwriting and closing conditions before treating financing as complete.

A preapproval helps organize the home search, but it is conditional. Do not assume a course certificate, assistance application or rate quote represents final funding approval.

Tell us where you want to buy, who will apply, how you earn income, your approximate available funds and whether you have owned a home before. Include any program or property you are considering.

For an address in the City of Miami, the city’s first-time homebuyer process illustrates why jurisdiction and application sequencing matter. Buyers elsewhere should confirm their own local administrator. Start your broader financing comparison with our Florida home purchase page.