Edge Home Loans
(855) 744-EDGE
Apply Online

Florida First-Time Homebuyer Programs 2024

Complete guide to first-time homebuyer programs, down payment assistance, and grants available to Florida homebuyers. Get help buying your first home in Lake Mary and throughout Florida.

Call (855) 744-EDGE

First-Time Homebuyer Programs in Florida

Florida offers numerous programs to help first-time homebuyers achieve homeownership. These programs provide down payment assistance, low-interest loans, grants, and homebuyer education. Whether you're buying in Lake Mary, Orlando, Miami, or anywhere in Florida, there are programs available to help.

Florida Housing Finance Corporation Programs

Florida First

Provides down payment and closing cost assistance up to $10,000 as a 0% interest, deferred second mortgage. Available to first-time homebuyers with income limits.

  • Up to $10,000 assistance
  • 0% interest, deferred payment
  • Must be used with Florida Housing first mortgage

HFA Preferred Grants

Provides down payment assistance grants that don't need to be repaid. Available to eligible first-time homebuyers.

  • Grant funds (no repayment required)
  • Income and purchase price limits apply
  • Must complete homebuyer education

Local Down Payment Assistance Programs

Many Florida cities and counties offer additional down payment assistance programs for first-time homebuyers:

  • Lake Mary/Seminole County: Local programs available for Seminole County residents
  • Orlando/Orange County: Orange County Housing and Community Development programs
  • Miami-Dade County: Various city and county assistance programs
  • Tampa/Hillsborough County: Local first-time buyer assistance programs

Federal First-Time Homebuyer Programs

Federal programs available to Florida first-time homebuyers include:

  • FHA Loans: 3.5% down payment with 580+ credit score, ideal for first-time buyers
  • USDA Loans: 0% down for eligible rural properties in Florida
  • VA Loans: 0% down for eligible veterans and active military
  • Conventional Loans: 3% down for first-time buyers through Fannie Mae and Freddie Mac programs

Who Qualifies as a First-Time Homebuyer in Florida?

In Florida, you're considered a first-time homebuyer if you:

  • Haven't owned a primary residence in the past 3 years
  • Are a displaced homemaker or single parent who only owned with a former spouse
  • Have never owned a home

Homebuyer Education Requirements

Many first-time homebuyer programs in Florida require completing a homebuyer education course. These courses cover:

  • Understanding the mortgage process
  • Budgeting and financial planning
  • Home maintenance and ownership responsibilities
  • Understanding your loan documents

Related Topics:

Ready to Explore First-Time Buyer Programs?

Contact Edge Home Loans in Lake Mary to learn about available programs and get pre-approved.

Call (855) 744-EDGE Apply Online