First Time Home Buyer Programs In Florida
Make Your First Home Purchase in Florida a Reality. At Bennett Capital Partners, we provide access to exclusive first-time homebuyer programs and expert guidance, helping you confidently take the next step toward homeownership.
Explore Our First Time Home Buyer Programs In Florida
At Bennett Capital Partners Mortgage Brokers, we are committed to making your journey toward homeownership in Florida as seamless as possible. Specializing in first time homebuyer programs, we offer personalized guidance to help you find the perfect loan, whether you’re looking for first time homebuyer grants or competitive mortgage rates.
Whether you're located in Miami or anywhere else in Florida, our experienced team will walk you through every step of the process—from identifying the right financing options to securing the most favorable terms. We understand that buying your first home can be overwhelming, which is why we’re here to simplify it for you.
With access to a wide network of lenders and a variety of Florida first time homebuyer programs, we tailor solutions that fit your financial goals. Our expertise includes down payment assistance, low-interest rates, and government-backed loans that make homeownership more accessible.
Start your homeownership journey with confidence—contact Bennett Capital Partners Mortgage Brokers today and take the first step toward owning your dream home in Florida.
Key Takeaways
✅ Flexible Solutions: Bank statement loans allow self-employed borrowers in Miami and Florida to qualify for mortgages without traditional income documentation like W-2s or tax returns.
✅ No Tax Return Required: Bennett Capital Partners Mortgage Brokers help freelancers, contractors, and small business owners secure financing using personal or business bank statements, offering a simplified approval process.
✅ Competitive Rates for Non-Traditional Borrowers: Our 12-month and 24-month bank statement loan programs provide competitive rates, helping self-employed borrowers get favorable mortgage terms tailored to their financial situation.
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Our Florida First Time Home Buyer Loan Programs
Our Florida First Time Home Buyer Loan Programs provide a range of options to make owning your first home achievable and affordable. From FHA and VA loans to conventional financing, we customize solutions to meet your unique needs.
Florida Hometown Heroes Program
The Florida Hometown Heroes Program aims to make homeownership affordable for eligible community workforce members. This program offers down payment and closing cost assistance to first-time, income-qualified homebuyers, allowing them to purchase a primary residence in the community where they work and serve.
Borrowers can receive up to 5% of the total loan amount, with a minimum of $10,000 and a maximum of $35,000, to cover down payment and closing costs.
This assistance is provided through a 0%, non-amortizing, 30-year deferred second mortgage, which becomes due in full upon the sale, refinancing, or transfer of the property, or if the home is no longer the primary residence. Unlike other programs, the Hometown Heroes loan is not forgivable.
Reach out to us for more details on income and loan limits, or to get started with the Hometown Heroes Program.
FHA Loan Program
Our FHA Loan Program requires a low down payment of only 3.5% for borrowers with a FICO score of 580 or higher, making it easy for first-time buyers to get started. For those with credit scores as low as 500, a higher down payment of 10% may be required, but the program remains flexible and accessible.
You can purchase a single home or finance up to four units, as long as you live in one of them, making this program a great choice for those looking to invest in real estate.
Whether you're in Miami, Orlando, Tampa, Jacksonville, or other areas throughout Florida, we’re here to help you find the right mortgage solution tailored to your needs.
With good interest rates and fast approvals, owning a home in Florida is possible. Contact us today, and we can help explain how to qualify for an FHA loan and guide you through the process to secure your dream home.
FHA 100% Financing Program
For Florida borrowers, Our FHA 100% Financing Program helps you buy a home with no down payment. If your FICO score is 600 or higher, you might qualify. You can use gift money from family or friends to help buy the home. You can also get up to 6 percent in seller concessions towards closing costs.
Loans range from $498,257 to $1,786,950, depending on your county, making it easier to purchase a home in Florida.
This program is great for first-time buyers who want a primary home. Take advantage of competitive mortgage rates and boost your buying power.
Let us help you get a mortgage loan that fits your needs.
Florida VA Loans
We offer VA home loans to Florida resident veterans and active-duty service members with no down payment. Enjoy low interest rates that make buying a home easier. You do not need to have owned a home in the last three years to qualify.
Our VA Mortgage program is designed to help those who have served our country.
Many veterans can qualify with a credit score as low as 500, though most lenders prefer a score of 580 or higher. Higher credit scores may help you secure better interest rates and terms.
USDA Loans Florida
USDA Loans in Florida offer a no down payment option for low- to moderate-income borrowers in eligible rural areas. These loans make homeownership more accessible with affordable interest rates and 30-year fixed terms.
To qualify, the home must be in a USDA-eligible area, and the buyer must meet income requirements. The specific income restriction is that a household's income must not exceed 115% of the area's median income (AMI)
You can check property eligibility using the USDA eligibility tool.
Fannie Mae Standard 97% LTV Loan
Our Fannie Mae Standard 97% LTV Loan requires only a 3% down payment, making it ideal for buyers with limited savings. There are no income limits, making this option accessible to a wide range of buyers. We offer fixed-rate mortgages with flexible terms of up to 30 years.
Homeownership education is only required if you're a first-time homebuyer. This program is perfect for those looking to purchase a home as their primary residence with flexible, low upfront costs.
Freddie Mac HomeOne
Freddie Mac HomeOne™ offers a 3% down payment option for first-time homebuyers. There are no income or area limits, making it easier to qualify. This program is only for fixed-rate purchases, so your monthly payments stay the same.
All first-time buyers must take a homeownership course to be ready for owning a home. This program can help lower your down payment and closing costs. With Freddie Mac HomeOne, you can have more buying power and make a home in Florida your own.
Learn how this grant program can help you buy your first home.
HomeReady Program
The HomeReady® Program helps first-time home buyers in Florida with a down payment as low as 3%. It offers flexible income limits to allow more people to qualify, and if you have very low income, you might also be eligible for a $2,500 credit toward your purchase.
To qualify, your household income must not exceed 80% of the area median income (AMI). You can check your specific income eligibility using the HomeReady Income Eligibility Lookup Tool.
The program includes homeownership education to prepare you for purchasing your first home. You may also qualify for assistance with closing costs, lowering your upfront expenses. This program is for those buying a primary home in Florida.
We support you through every step to make sure you understand the process. Let us help you use the HomeReady program to achieve your homeownership goals.
Home Possible Program
The Home Possible® Program helps first time home buyers in Florida with a low down payment of just 3%. It is perfect for those who need payment help and may have credit challenges.
To qualify, your income must be 80% or less of the Area Median Income (AMI). You can check your specific income eligibility using the HomePossible Income Eligibility Lookup Tool.
You can include non-occupying co-borrowers, making approval easier. Mortgage insurance is reduced and can be canceled when your loan balance is below 80% of the home’s value.
The Home Possible Program makes buying your first home in Florida simple and affordable.
FHFA First-Time Home Buyer Discount
With the FHFA First-Time Home Buyer Discount, you can save up to 1.75% on your mortgage interest rate. This lowers your monthly payments and saves you money over your loan. To qualify, you must not have owned a home in the past three years.
This program removes loan-level pricing adjustments, making it easier to get a better rate. This program makes buying a home more affordable by reducing your loan amount. We will guide you through the eligibility requirements and help you use this valuable assistance program.
Local First Time Home Buyer Programs: Grants & Down Payment Assistance
At Bennett Capital Partners Mortgage Brokers, we want to make you aware of the local grants and down payment assistance programs available for first time homebuyers in Florida. While we don’t assist directly with these programs, we can point you in the right direction to get the help you need.
These programs can also be combined with the loan options we offer, like Conventional, FHA, VA, or USDA loans. Together, they can make owning your first home more affordable and within reach.
Explore these opportunities with us to find the best fit for your home purchase journey.
Miami-Dade Advocacy Trust Grant
The Miami-Dade Economic Advocacy Trust (MDEAT) Homeownership Assistance Program (HAP) offers up to $28,500 in assistance for down payments and closing costs. This zero-interest deferred loan helps low-to-moderate income first-time homebuyers in Miami-Dade County. The loan has no monthly payments, and if you remain in the home for 20 years, it is fully forgiven.
To qualify, buyers must contribute 1% to 3% of the home's purchase price based on income. The program applies to new or existing single-family homes, townhomes, or condos that will be used as your primary residence. Short sales and foreclosed properties may also be considered on a case-by-case basis.
The HAP funds can be combined with other local, state, or federal assistance programs, making it easier for you to qualify for a mortgage and reduce your overall loan amount
$100,000 Hallandale Beach CRA First-Time Homebuyer Assistance
The $100,000 Hallandale Beach CRA (HBCRA) program helps you buy your first home in the Hallandale Beach CRA district. Eligible affordable housing buyers can receive up to $100,000 for down payments and closing costs. This assistance is a 0% interest loan, and if you follow the program rules and stay in the home for ten years, the loan is forgiven.
To apply, you must earn between 50% and 120% of Broward County’s median income. Additionally, an extra $10,000 incentive is available for workforce housing buyers earning between 120% and 140% of the median income.
First responders, teachers, and nurses may also receive an additional $5,000. Your new home must be your primary residence.
Broward County Home Buyer Purchase Assistance Program
The Broward County Home Buyer Purchase Assistance Program offers a 0% interest deferred loan for down payments and closing costs. This second mortgage has a 15-year term, and if you live in the home for the full 15 years, the loan is forgiven. The program helps first-time homebuyers reduce upfront costs, making homeownership more affordable.
To qualify, buyers must contribute 3% of the purchase price, complete a homebuyer education course, and secure a first mortgage approval. Eligible properties include single-family homes, condos, townhomes, and villas, with a maximum property price of $636,806. Some areas, like Weston, may offer higher limits.
Funds are available on a first-come, first-qualified basis, and the program has income limits based on 80% of the area median income (AMI). The approval process typically takes 5-6 weeks after submitting the required documents
Plam Beach County HOME First-Time Homebuyer Program
The Palm Beach County HOME First-Time Homebuyer Program offers up to $100,000 in assistance for down payments, closing costs, and home acquisition. This is a 0% interest deferred payment loan, forgiven after 30 years if the property remains your primary residence. The program is open to income-eligible buyers in Palm Beach County. The maximum home price is $568,557, and applicants must meet income limits based on 80% of the area median income (AMI).
Applications open on October 9, 2024, and are processed on a first-come, first-served basis.
Tampa: Dare to Own the Dream (DARE) Program
The Dare to Own the Dream program in Tampa provides down payment assistance loans for income-eligible homebuyers. This 0% interest deferred payment loan is a “silent second,” meaning no monthly payments are required as long as the home remains the buyer’s primary residence. The loan is forgivable after 10 years of owner occupancy.
Eligible buyers can receive up to $40,000 depending on household income, which is calculated for the entire household. The program supports home purchases up to $350,000, and buyers must contribute a minimum of $2,000, with at least $1,000 coming from their own funds.
Orlando: Down Payment Assistance Program
The Orlando Down Payment Assistance Program offers financial support to eligible first-time homebuyers for down payment and closing costs. Assistance is based on household income, with $70,000 available for very low-income buyers, $40,000 for low-income buyers, and $10,000 for moderate-income buyers.
To qualify, applicants must complete a pre-purchase homebuyer education program and secure a first mortgage. This program aims to make homeownership more accessible by reducing upfront costs for buyers within Orlando city limits.
Jacksonville: Home Sweet Home Program
The Home Sweet Home Program, offered by the Jacksonville Housing Finance Authority (JHFA), provides a 30-year fixed-rate mortgage for first-time homebuyers in Duval County. The program includes up to $20,000 in down payment and closing cost assistance as a 0% interest deferred second mortgage. However, this second mortgage must be repaid if the home is sold, refinanced, or if the owner no longer lives in the property.
To qualify, buyers must have a minimum FICO score of 640 and meet specific income criteria, with a household income limit of $78,865 for one to two-person households and $90,694 for households of three or more. The maximum property sales price is $299,000, covering various types of homes, including detached or attached units, condos, and townhomes.
Florida First Time Home Buyer Programs: Grants & Down Payment Assistance
Florida offers many statewide grants and down payment assistance for first-time homebuyers. While we don’t provide these programs directly, they can be used alongside our loan options to help you buy your first home.
Florida Housing Homebuyer Program
The Florida Housing Homebuyer Program provides 30-year fixed-rate mortgage loans to first-time homebuyers across Florida through approved lenders. It also offers various down payment assistance options, making it easier for eligible buyers to cover upfront costs like down payments and closing fees.
To qualify, borrowers must have a minimum credit score of 640 and complete an approved Home Buyer Education course. Additionally, buyers must meet income and purchase price limits specific to their county, ensuring the program supports those who need it most. The program is available to individuals who meet the IRS definition of a first-time homebuyer, meaning they haven’t owned or occupied a primary residence within the past three years.
For more details, Click here for the "Opening the Door to Homeownership" ebook
Florida Assist Program
The Florida Assist (FL Assist) program provides up to $10,000 for down payments and closing costs on FHA, VA, USDA, and Conventional loans. This assistance is a 0% interest, deferred second mortgage, meaning there are no monthly payments unless the property is sold, refinanced, or the borrower ceases to occupy the home. However, the loan is not forgivable, and repayment is due when one of these events occurs.
Florida Homeownership Loan Program (FL HLP)
The Florida Homeownership Loan Program (FL HLP) offers $10,000 as a 3% fully-amortizing second mortgage with a 15-year term. Borrowers make monthly payments on this loan, and the unpaid balance becomes due if the home is sold, refinanced, or no longer used as the primary residence.
This program helps buyers who can afford a monthly payment, as the loan is factored into their debt-to-income ratio.
HFA Preferred and HFA Advantage PLUS Programs
The HFA Preferred and HFA Advantage PLUS programs offer 3%, 4%, or 5% of the loan amount in the form of a forgivable second mortgage. This mortgage is forgiven at 20% per year over five years, provided the borrower continues to occupy the property as their primary residence.
These programs are only available with Florida Housing's conventional first mortgage products, helping buyers with flexible and affordable down payment solutions.
State Housing Initiatives Partnership (SHIP)
The State Housing Initiatives Partnership (SHIP) program, administered by Florida Housing, provides funding to local governments to support affordable homeownership and multifamily housing. This program is designed to serve very low, low, and moderate-income families by offering financial assistance through local housing initiatives.
Each of Florida’s 67 counties and 55 Community Development Block Grant cities receive SHIP funds to help increase affordable housing options. At least 65% of SHIP funds support buying homes. At least 30% is for very-low income families.
SHIP helps with down payments and closing costs, making it easier to buy a home. The program also assists with emergency repairs, new construction, and home rehab. Buyers must meet income and price limits and have a good credit score.
"Working with Philip Bennett and the Bennett Capital Partners team made buying my first home an amazing experience. As a first-time homebuyer in Florida, I was unsure about the process, but Philip’s expertise and the team’s guidance made everything simple and stress-free. They helped me find the perfect first-time buyer program, and their attention to detail ensured I got the best mortgage rate available. I felt informed and supported every step of the way. If you're a first-time buyer looking for a reliable mortgage broker in Florida, I highly recommend Bennett Capital Partners." — Brain K., Pinecrest, FL
📞 Give Us A Call Today 1-800-457-9057
Benefits of First Time Home Buyer Assistance Programs
Our first-time homebuyer assistance programs in Florida provide essential support to make buying your first home achievable. These benefits help reduce financial barriers and increase your purchasing power.
Access to Forgivable Mortgages for First Time Home Buyers
We provide forgivable mortgages. You receive 3-5% to help with your down payment. After five years, this money is forgiven. It improves your finances. To qualify, you need a good credit score.
This is a flexible financing option.
Lower Interest Rates for First Time Home Buyers
Our first-time homebuyer programs in Florida offer lower interest rates. Factors like Loan Level Price Adjustments (LLPAs), credit score, and loan type can influence the rate you receive. These considerations help ensure your mortgage is affordable over time, making homeownership more accessible to qualified borrowers.
Work with us to get lower rates and help with closing costs for your home purchase.
Tax Benefits for First Time Home Buyers
Mortgage Credit Certificates (MCCs) are a valuable but lesser-known benefit for first-time homebuyers in Florida. They provide a federal tax credit for a portion of the mortgage interest paid each year, up to $2,000, helping reduce a homeowner's tax burden. Florida Housing provides this benefit to help low- and moderate-income buyers own a home.
Homeowners can also take advantage of the mortgage interest deduction, lowering taxable income based on interest paid on their mortgage. When selling a home, the capital gains tax exclusion allows up to $250,000 ($500,000 for couples) in profit to be excluded from taxes, reducing the tax burden on home sales.
Closing Cost Assistance Programs for First-Time Home Buyers
Closing costs can significantly increase the overall cost of buying a home, often ranging between 2-5% of the purchase price. For example, on a $300,000 home, these fees can be between $6,000 and $15,000, depending on location, lender, and other factors. These costs typically cover expenses such as appraisal fees, attorney fees, title insurance, and taxes.
Closing cost assistance programs can help reduce the upfront costs by covering part or all of these closing fees, making the homebuying process more affordable and accessible.
Increased Purchasing Power for Home Purchasers
Financial help boosts what you can buy. Programs like the Florida Assist Second Mortgage offer up to $10,000 for your down payment or closing costs. This help lets you qualify for bigger loans, so you can buy a pricier home in Florida.
With more buying power, you can look at more homes. This gives you more choices in popular neighborhoods in South Florida. This support makes it easier to get the home you want.
Understanding First Time Homebuyer Programs & Grants
At Bennett Capital Partners Mortgage Brokers, we help you navigate grants and assistance for your first home. Understanding these options can make buying your home easier and more affordable.
Forgivable Second Mortgage
Forgivable second mortgages are available through the Advantage PLUS Second Mortgage program. You can choose a rate of 3%, 4%, or 5%. These loans help with your down payment and closing costs. The loan is forgiven 20% each year over five years.
You must live in the home as your main residence. This help is for eligible first-time homebuyers in Florida. You need a good credit score and must meet income limits.
Loan forgiveness means you do not have to repay the amount after five years. Take advantage of these programs for first-time homebuyers in Florida.
Down Payment Loans
Down payment loan programs offer flexible options designed to assist first-time homebuyers with upfront costs, providing up to $25,000 for down payment and closing costs. Programs like the Florida Hometown Heroes Program can offer up to $35,000 in assistance. It's important to note that while some of these programs may offer forgivable loans, others may require repayment over time, depending on the specific terms.
Deferred Mortgages
Deferred mortgage assistance programs can provide up to $40,000 for down payment and closing costs. These second mortgages defer payments, allowing you to prioritize settling into your new home without the immediate financial burden of monthly payments.
Typically, these loans are structured so that no payments are required until certain conditions are met, such as selling or refinancing the home. After 10 years of ownership, some programs offer loan forgiveness, further reducing your financial burden.
Mortgage credit certificate
The Mortgage Credit Certificate helps first-time homebuyers by offering a tax credit on part of their mortgage interest. This credit lowers the federal income tax you pay each year.
Florida Housing provides this benefit to help low- and moderate-income buyers own a home.
With an MCC, you can save money and reduce your ongoing mortgage costs. It gives you more buying power, making it easier to qualify for a loan.
Housing Grants
Housing grants provide financial assistance that doesn't need to be repaid, helping first-time buyers in Florida cover down payment and closing costs. Eligible buyers may receive up to $35,000 in grant money, depending on the program.
For example, the Miami-Dade Advocacy Trust Grant offers up to $28,500 for qualified buyers in Miami-Dade County. Additionally, the Florida Hometown Heroes Program provides up to $35,000 for down payment and closing cost assistance.
"Working with Philip Bennett and the team at Bennett Capital Partners was amazing from start to finish. Philip knows the Miami real estate market well and helped me find the best mortgage for my needs. The process was simple, quick, and stress-free. I got a same-day pre-approval and closed in just 8 business days after the contract was signed! The hardest part was getting the sellers to agree to close early! Thanks to their great rates and guidance, I got a fantastic mortgage for my new home in Brickell. I highly recommend Bennett Capital Partners to anyone who needs a trustworthy and helpful mortgage broker in Miami."
— Joe H., North Miami Beach, FL
📞 Give Us A Call Today 1-800-457-9057
Eligibility and Requirements for Florida First Time Buyer Grants & Down Payment Assistance
We help you determine if you qualify as a first-time homebuyer by reviewing your income and credit score. Our team at Bennett Capital Partners Mortgage Brokers guides you through each step of the application process.
Defining a First Time Home Buyer
A first-time home buyer in Florida has not owned a main home in the last three years. They need a good credit score and their debts should not be too high compared to their income.
Applicants must have a steady job history to qualify. The home must be their main place to live. Working with an approved mortgage lender helps meet all the rules. These buyers might get help with the down payment and closing costs if they qualify.
Income and Purchase Price Limits
Income and home price limits vary based on the size of your household and the county where you plan to buy. Each county in Florida has specific maximum home prices, and your income must fall below the county threshold to qualify for assistance.
These limits ensure that help is available to those who need it most. By confirming your eligibility early, you can confidently plan your down payment, knowing that you meet all the necessary qualifications for purchasing your new home.
Importance of Credit Score in Qualifying
Having a good credit score is important for Florida’s first-time homebuyer programs. Most programs require a score of at least 620 to 640. Higher scores get better interest rates and loan terms.
If your score is lower, it may be harder to qualify, but programs do exist for lower credit scores with larger down payments. You must also take a homebuyer education class.
This class helps you understand the mortgage process and makes sure you can live in the home as your main residence. A strong credit score improves your chances of getting help with the down payment and closing costs.
Eligibility Requirements for Down Payment Assistance
To qualify for down payment assistance, you typically need a credit score of 620 or higher. The property must be your primary home in Florida. Your income must be within the program's limits to ensure help goes to those who qualify.
Some programs only offer assistance in specific areas, like Broward County or Hallandale CRA. Assistance can come as grants or loans to cover your down payment and closing costs.
Key Considerations for Down Payment Assistance Programs
We evaluate repayment terms and eligibility criteria to help you select the best down payment assistance program—discover more below.
Payback Rules
Repayment terms differ by program and source. Some down payment assistance is forgiven after a certain period, such as 20 years, if you remain in your home. Others require repayment when you sell, transfer, or refinance the property. It’s essential to know these rules beforehand to avoid unexpected costs.
Understanding the specific repayment conditions of each program ensures that you can make informed financial decisions. Misunderstanding these rules could impact your long-term homeownership strategy.
Forgiveness Conditions
Forgiveness conditions dictate when down payment assistance is forgiven or deferred. Programs like the HFA Preferred Plus program forgive the loan after five years, as long as the property remains your primary residence. Other programs, like the Florida Assist Second Mortgage, require repayment once you sell or refinance your home.
It’s important to stay informed about the forgiveness conditions for any assistance you receive, as it can significantly impact your financial planning and stability as a homeowner.
"I had been working with my bank for almost 30 days and was already on a two-week extension when I reached out to Philip Bennett and his team at Bennett Capital Partners. Philip was able to use my bank's appraisal and still close the loan within the contract extension period! The whole process was smooth, fast, and stress-free. Thanks to Philip’s knowledge of first-time homebuyer programs and his great rates, I was able to buy my first home in Florida without any more delays. I highly recommend Bennett Capital Partners if you need a mortgage broker who gets things done."
— Juan G., Miami, FL
📞 Give Us A Call Today 1-800-457-9057
Work With Bennett Capital Partners Mortgage Brokers for First-Time Home Buyer Services
Choose Bennett Capital Partners for first-time homebuyer services and rely on our local expertise—read more to get started.
Access to a Variety of Loan Options
We connect you with various loan options through multiple lenders in Florida. Whether you need an FHA loan, VA mortgage, or conventional financing, we can help you find the right program.
Our relationships with wholesale lenders give you access to solutions like FHA 100% Financing DPA Program, Fannie Mae HomeReady, and Freddie Mac's HomeOne .
Our local expertise helps you navigate the housing programs listed. Eligible borrowers can get assistance for down payments and closing costs. We support those who want to make the home their primary residence or invest in property.
With many options, you can secure the best rates and terms that fit your needs.
Local Expertise in the Florida Real Estate Market
With over 20 years of experience in Florida’s real estate market, our deep-rooted knowledge spans local neighborhoods in major markets such as Miami, Orlando, Tampa, and Jacksonville. Whether it's Brickell, Coral Gables, Sunny Isles Beach, or beyond, we are equipped to expertly guide you through the homebuying process.
As a Florida-based firm, we understand the unique dynamics of the state's diverse housing markets and tailor our services to meet the specific needs of first-time home buyers across the region.
Specialization in First-Time Homebuyer Programs
Our team at Bennett Capital Partners specializes in helping first-time homebuyers navigate the process with ease. We offer one-on-one consultations to review the best loan programs you qualify for, ensuring that you’re matched with the right mortgage option.
We also go over all closing costs line by line, so you have a clear understanding of every expense involved. Let us provide the expert support you need to make confident decisions as you move toward homeownership.
Contact Us Today
Call us at 1-800-457-9057 or email info@bcpmortgage.com. Visit our Brickell office at 1101 Brickell Ave STE 800, Miami, FL 33131. As a trusted mortgage broker, we help qualified first-time homebuyers secure down payment and closing cost assistance through various housing programs.
Whether you want to live in the home or invest, we can help. We provide grants and loans, including support for spouses of veterans who died and for lower-income applicants. Make sure you have a good credit score and meet other requirements.
Let us help you achieve your homeownership goals.
FAQs First Time Home Buyer Programs In Florida
What is the definition of a first-time homebuyer in Florida?
A first-time homebuyer in the state of Florida is someone who has never owned a home or hasn’t owned one in the last three years. These programs help eligible individuals purchase a home as their primary residence and occupy the home.
How much assistance can I receive through Florida's first-time homebuyer programs?
Florida provides up to $5,000 in assistance. This assistance may come in the form of down payment and closing costs, or as a credit amount, such as $500 toward the purchase, depending on the program and your eligibility.
What are the eligibility requirements for these programs?
You must have a credit score that meets the program’s standards and work with an approved participating lender. Assistance is available to lower-income buyers, and the home must pass a city inspection to ensure it meets safety and habitability standards.
How do I apply for first-time homebuyer assistance in Florida?
Start by calling a mortgage broker at Bennett Capital Partners who may be able to help you navigate the application process. They will guide you in providing down payment and closing assistance, ensuring you meet all criteria for assistance for eligible buyers.
Are there specific areas in Florida where these programs are available?
Yes, assistance is available within areas like the East Tampa Community Redevelopment Agency (CRA). Check with your approved lender to see if your desired location qualifies for first-time homebuyer programs in the Sunshine State.
Alex S.
Philip was highly recommended to me and he did not disappoint. He was incredibly helpful and honest throughout the entire process, getting us the best program that matched our needs. We really didn't think we had a chance and luckily Philip …