First-Time Home Buyer Programs in Florida: Your Guide to Down Payment and Closing Cost Assistance

By Stacy Ann Stephens, Mortgage Broker at Jhenesis Mortgage | Published: May 6, 2025

Buying your first home in Florida is an exciting milestone, but the upfront costs—like down payments and closing costs—can feel overwhelming. As a top mortgage broker at Jhenesis Mortgage, I often hear, “How do I get into a first-time home buyer program?” Many buyers hope for no-money-down or no-closing-cost options, but the reality is that most programs have specific guidelines and requirements. This comprehensive guide explores Florida’s first-time home buyer programs, eligibility criteria, assistance amounts, deadlines, and more to help you navigate the process.

Who Is Considered a First-Time Home Buyer in Florida?

In Florida, a first-time home buyer is defined as someone who:

• Has not owned and lived in a primary residence in the past three years.
• Meets income and purchase price limits set by the program and county.
• Intends to use the home as their primary residence.

This means even if you owned a home years ago, you may still qualify as a first-time buyer. For example, if you rented for the last three years after selling your home, you’re eligible.

Average Down Payment and Closing Costs in Florida

The down payment and closing costs depend on the home’s purchase price and loan type. In 2025, Florida’s median home price is approximately $388,454, according to recent market data. Here’s a breakdown:

• Down Payment: Typically 3–5% for first-time buyer programs like FHA or conventional loans. For a $388,454 home, that’s $11,654–$19,423.
• Closing Costs: Usually 3–5% of the purchase price, or $11,654–$19,423 for a $388,454 home. This includes lender fees, title insurance, and taxes.

These costs can be a barrier, but Florida’s assistance programs can significantly reduce the upfront burden.

Top Florida First-Time Home Buyer Programs for 2025

Florida offers a variety of programs through the Florida Housing Finance Corporation (Florida Housing), local governments, and other entities. Below are the key programs, their guidelines, assistance amounts, and sources.

1. Florida Housing Homebuyer Program

Source: Florida Housing Finance Corporation
Description: Offers 30-year fixed-rate mortgages (conventional, FHA, VA, USDA) through approved lenders, often paired with down payment assistance.
Assistance:

• FL Assist: Up to $10,000 as a 0% interest, deferred second mortgage. Repayment is due upon sale, refinance, or if the home is no longer your primary residence.
• FL HLP: Up to $10,000 as a 3% interest, 15-year second mortgage with monthly payments of approximately $69.06.
• FL PLUS: 3%, 4%, or 5% of the first mortgage amount (e.g., $11,654–$19,423 on a $388,454 loan) as a 0% interest, forgivable second mortgage. Forgiven at 20% per year over five years.

Eligibility:

• First-time buyer (no homeownership in the past three years).
• Minimum FICO score of 640 (580 for FHA loans).
• Complete a homebuyer education course (HUD-approved or Florida Housing-approved).
• Income and purchase price limits vary by county (e.g., Miami-Dade: $127,200 income limit for a family of four; $475,000 purchase price limit).
• Primary residence only; eligible properties include single-family homes, condos, townhomes.

Deadlines: Ongoing, subject to funding availability. Apply through a Florida Housing-approved lender like Jhenesis Mortgage.
Programs: Let's see if you're eligible

2. Florida Hometown Heroes Housing Program

Source: Florida Housing Finance Corporation
Description: Targets community workers (e.g., teachers, nurses, firefighters, police officers) with low-rate mortgages and significant assistance.
Assistance: Up to $35,000 (max 5% of the loan amount) as a 0% interest, deferred second mortgage for down payment and closing costs. Repayment is due upon sale, refinance, or if the home is no longer your primary residence.
Eligibility:

• First-time buyer or not having owned a home in the past three years.
• Employed full-time by a Florida-based employer in a qualifying profession.
• Minimum FICO score of 640.
• Income and purchase price limits by county.
• Homebuyer education course required.

Deadlines: Ongoing, but funds are limited. Apply early through an approved lender.
Programs: Let's see if you're eligible

3. State Housing Initiatives Partnership (SHIP)

Source: Local county/city governments via Florida Housing
Description: SHIP funds are distributed to Florida’s 67 counties and Hawkins for affordable housing programs.
Assistance: Varies by county; typically $7,500–$50,000 as grants, zero-interest deferred loans, or forgivable loans for down payment and closing costs.
Examples:

• Pensacola/Escambia County: Up to $25,000 (deferred loan).
• Volusia County: Up to $44,000 (down payment) + $6,000 (closing costs).
• Panama City: Up to $50,000.

Eligibility:

• First-time buyer or no homeownership in three years.
• Income limits based on Area Median Income (AMI).
• Homebuyer education course (often 8 hours).
• Primary residence; purchase price limits apply.

Deadlines: Vary by county; funds are often first-come, first-served. Contact your local SHIP office.
Programs: Let's see if you're eligible

4. Local County/City Programs

Source: City/County Housing Authorities
Description: Many cities and counties offer unique programs, often funded by SHIP or federal grants.
Examples:

• Miami-Dade County: Up to $35,000 as a 0% interest loan for down payment.
• Orlando: Up to $30,000 for down payment and closing costs.
• Hillsborough County: Up to $20,000 as a 0% interest, deferred second mortgage.

Eligibility: Similar to SHIP (first-time buyer, income limits, homebuyer education). Specific requirements vary by program.

Deadlines: Vary; check with local housing authorities.
Source: Local government websites (e.g., Miami-Dade, Orlando)

Scenarios: How These Programs Work

Frequently Asked Questions (FAQ)