Updated · Mike Certo, NMLS #260555
Florida First-Time Home Buyer Guide
Florida first-time buyers have one of the strongest DPA program menus in the US. Florida Hometown Heroes, FHFC HFA Preferred, HFA Advantage, Florida Assist, plus county and city programs combine to make Florida one of the more navigable states for FTHB if you know which program fits your scenario.
First-time buyer loan types in Florida
- FHA: 3.5% down, 580+ FICO published (620+ practical lender overlay). Pairs with most Florida DPA programs.
- Conventional 97: 3% down, 620+ FICO. Pairs with HFA Preferred and HFA Advantage.
- VA: Zero down for eligible veterans. Florida has the third-largest veteran population in the US.
- USDA: Zero down for USDA-eligible rural Florida areas. Eligibility map favors inland and panhandle Florida; most coastal and metro areas excluded.
FHFC programs (the headline)
- Florida Hometown Heroes: Up to 5% of first mortgage (capped) as a 0% deferred-payment second for eligible front-line workers — teachers, law enforcement, firefighters, healthcare, military, and many other professions. Income and purchase-price limits apply.
- FHFC HFA Preferred: Conventional first mortgage with up to 4-5% DPA second mortgage. 30-year, 0% interest, deferred.
- FHFC HFA Advantage: Conventional first mortgage with reduced MI for income-eligible buyers. Pairs with DPA second.
- Florida Assist (FA): Up to $10,000 in 0% deferred-payment second mortgage. Pairs with FHA/VA/USDA/conventional first mortgage.
- 3% HLP (HFA Preferred 3% PLUS Conventional): 3% DPA grant for income-eligible buyers — no repayment required.
County and city DPA
Several Florida counties and cities run additional DPA programs. Most do not combine with FHFC programs — you choose ONE assistance program per transaction.
- Miami-Dade County Surtax: Documentary stamp surtax-funded DPA
- Hillsborough County DPA
- Orange County (Orlando-area) DPA
- Broward County DPA
- Pinellas County DPA
- City of Tampa, City of St. Pete, City of Tallahassee, City of Jacksonville programs
One assistance program per transaction
Florida DPA programs do not combine with each other. Hometown Heroes does not pair with Florida Assist. Local programs do not pair with FHFC. You select ONE assistance program to pair with your first mortgage.
Florida-specific considerations
- Flood insurance: Many Florida properties require flood insurance. Citizens or private market premiums vary widely.
- Hurricane/wind insurance: Coastal properties face hurricane deductibles and possibly Citizens windstorm policy. Premium adds to monthly DTI calculation.
- Condo association financials: Florida lender review of condo HOA financials, reserves, and post-Surfside structural integrity inspection requirements has tightened. Some condos may not be lender-financeable.
- Documentary stamps and intangible tax: Florida transactional taxes affect closing costs.
Next step
20-minute call. Bring county, household income, FICO ballpark, FTHB status, profession. We map your top 2-3 Florida program fits.
Related
FAQ
Who qualifies as a "Hometown Hero" in Florida?
Front-line workers in many qualifying professions — teachers, law enforcement, firefighters, healthcare workers, military, and 50+ additional eligible occupations. Income and purchase-price limits also apply.
Can I combine Hometown Heroes with Florida Assist?
No. You select one DPA program per transaction. Most Florida DPA programs don't combine with each other.
Are there income limits on Florida DPA?
Yes — FHFC programs have county-specific income limits. National programs (Chenoa, Arrive, Essex) typically have no income limits — useful for Florida buyers who exceed FHFC caps.
Does Florida condo financing work the same way for first-time buyers?
Condos require additional lender review of HOA reserves, financials, and post-Surfside structural integrity certification. Some Florida condos may not be lender-financeable currently.