First-time homebuyer loans.
If you haven't owned a primary residence in the last three years — even if you've owned before — you may qualify for first-time buyer programs that include down payment assistance, reduced PMI, and dedicated counseling.
Who qualifies as a first-time buyer?
The federal definition of a first-time buyer is broader than most people think. You typically qualify if you have not owned a primary residence in the last three years — even if you’ve owned before. Investment properties you’ve never lived in usually don’t count against you either.
You may qualify even if you’ve owned before
Sold a home five years ago and rented since? You typically qualify. Owned a rental but never lived in it as a primary residence? You may still qualify. First-time buyer status unlocks down payment assistance and, in many cases, reduced mortgage-insurance pricing.
Florida programs you may not know exist.
Florida is one of the most generous states for down payment assistance. Eligibility, income limits, and funding levels change frequently — confirm current rules before relying on the numbers.
Hometown Heroes
For eligible full-time Florida workers — teachers, law enforcement, healthcare, firefighters, military, child welfare, and others. Typically offered up to roughly $35,000 in deferred-payment assistance pairable with a 30-year fixed FHA, VA, USDA, or conventional first mortgage. Income limits apply and funding can change.
Florida Bond Program
Florida HFA Preferred Plus and similar bond programs offer below-market interest rates plus down payment assistance for first-time buyers within income and purchase-price limits. Multiple variants exist depending on county and household composition.
County & city grants
Pasco, Pinellas, and Hillsborough counties each have local programs that may stack on top of state assistance. Some buyers see total help that exceeds $40,000 when programs combine — subject to availability and qualification.
Conventional 3% vs. FHA 3.5% — which fits?
The two most common first-time-buyer paths. Choosing well is mostly a credit-score and total-cost question.
HomeReady / Home Possible / Conv 97
The Fannie Mae and Freddie Mac low-down-payment programs — sometimes overlooked but often a better long-term deal for buyers with strong credit.
- 3% minimum down payment
- Typically requires 620+ credit score
- PMI removable once you reach ~20% equity
- Income limits apply on HomeReady/Home Possible
The flexible-credit alternative
FHA’s lower credit thresholds and softer underwriting make it the most common path for first-time buyers who don’t fit the conventional box.
- 3.5% minimum down with 580+ credit score
- Possible from 500 with a 10% down payment
- Mortgage insurance typically lasts the life of the loan
- Gift funds may cover the entire down payment
Step-by-step first-time-buyer roadmap
Most first-time purchases follow the same eight stages. Knowing what comes next makes the whole process feel less overwhelming.
- Pull your credit — know your score before you start shopping.
- Get pre-approved — a real pre-approval with credit and income documentation tells you your maximum purchase price.
- Identify down payment assistance you may qualify for.
- Complete homebuyer education — required for most assistance programs.
- Find a real estate agent who works regularly with first-time buyers.
- Make an offer on a home within your pre-approved price range.
- Underwriting and appraisal — typically 30–45 days after contract.
- Close on your home — sign final documents and receive the keys.
Programs designed to get you to the closing table.
Low-down-payment loans
Conventional 97, HomeReady, Home Possible, FHA, and VA loans may allow as little as 3% down — or $0 down for eligible veterans — when paired with first-time buyer programs.
Down payment assistance
Florida Hometown Heroes typically offers up to $35,000 in deferred-payment assistance for eligible workers. Bond programs and county-level grants may stack on top — eligibility and funding can change.
Coaching, not just paperwork
Pre-approval, credit review, document checklist, and weekly check-ins so you always know what's next. First-time buyers get the same attention every other client gets — usually more.
Florida programs you may not know exist.
Florida is one of the most generous states for first-time buyer assistance. Hometown Heroes, the Florida Bond Program, and county-level grants in Pasco, Pinellas, and Hillsborough may be combined for total help that often exceeds $40,000 — paired with FHA, VA, USDA, or conventional first mortgages.
Eligibility, income limits, and funding levels change frequently. The application still has to qualify on credit, income, and property — but most first-time buyers don't realize how much help they're typically eligible for until they ask.
Free 8-page Florida buyer guide.
The First-Time Homebuyer Roadmap walks through credit prep, every Florida down payment assistance program, the documents you'll gather, and what to expect at closing — written for Florida buyers, not the rest of the country.
Common first-time buyer questions.
What counts as a "first-time" buyer in Florida?
Federal first-time buyer programs typically define a first-time buyer as anyone who has not owned a primary residence in the last three years. So if you sold a home five years ago and have been renting since, you may still qualify. Investment properties you've owned but never lived in don't usually count against you.
What is the Florida Hometown Heroes Housing Program?
Hometown Heroes is a Florida program that typically offers eligible full-time Florida workers — teachers, law enforcement, healthcare workers, firefighters, military, and many others — up to $35,000 in down payment and closing cost assistance through a 0% interest, deferred-payment second mortgage. Income limits, eligibility, and program funding can change, so confirm current rules before relying on the numbers.
Can I combine a first-time buyer program with FHA or VA?
Often, yes. Hometown Heroes and many county DPA programs are designed to be paired with a 30-year fixed conventional, FHA, VA, or USDA first mortgage. The rules vary by program, and not every combination is allowed in every county, so confirming the structure up front is part of every first-time buyer pre-approval.
What credit score do I need for first-time buyer programs?
Minimum credit thresholds vary by program. FHA may go as low as 580 (sometimes 500 with a larger down payment), conventional 97 / HomeReady / Home Possible typically require 620+, and Hometown Heroes generally requires a 640 minimum FICO. Higher scores typically unlock better pricing across all programs.
Will using down payment assistance slow down my closing?
Sometimes — DPA files involve a second loan and additional documentation, and processing the assistance funds may add a few days. With early-stage planning and complete documentation, many DPA-assisted purchases still close in roughly 30–45 days. The biggest variable is funding availability, which can change.
What does the buyer roadmap PDF actually walk me through?
The free 8-page Florida buyer roadmap covers credit prep, the documents you'll need to gather, every major Florida down payment assistance program, the homebuyer education requirement, what underwriting and appraisal involve, and what actually happens on closing day — written specifically for Florida buyers.