2024 Guide to Florida First-Time Homebuyer Programs and Loans

Navigating the journey to homeownership can be daunting, especially for first-time buyers in Florida. However, the Sunshine State offers several programs tailored to make this process more accessible and affordable. If you’re a first-time homebuyer in Florida—or haven’t owned a home in the past three years—you might be eligible for various programs that provide down payment assistance, affordable mortgage options, and more. Here’s a detailed overview of these opportunities to help you secure your dream home in 2024.

Florida First-Time Homebuyer Programs

The Florida Housing Finance Corporation oversees various programs designed to assist first-time homebuyers. These programs aim to make homeownership affordable through low-interest first and second mortgages for down payment and closing cost assistance.

Florida Housing Homebuyer Loan Program

This statewide initiative offers multiple 30-year fixed-rate mortgage options via approved lenders. Eligibility for this program includes:

  • A minimum credit score of 640.
  • Income and purchase price limits vary by county.
  • Mandatory completion of a homebuyer education course.


  • Wide availability across all 67 Florida counties.
  • No waiting periods due to continuous funding.
  • Access to various loan types, including FHA, VA, and USDA.


  • Restrictive income and purchase price limits.
  • Requirement to use an approved program lender.
Florida Assist

Known as FL Assist, this program provides up to $10,000 in down payment assistance via a 0% interest, deferred second mortgage.


  • No monthly payments.
  • Broad compatibility with loan types.


  • It is not forgivable and must be repaid upon sale, refinancing, or if the property is no longer the primary residence.
Florida HLP (Homeownership Loan Program)

Offers a $10,000 second mortgage at a 3% interest rate, fully amortized over 15 years.


  • Helps those who do not qualify for a deferred payment loan.
  • A clear pathway to full repayment over 15 years.


  • Monthly payments are required.
  • The loan is not forgivable.

It includes programs like HFA Preferred and HFA Advantage PLUS, which provide down payment and closing cost assistance forgivable over five years.


  • No interest rate and no payments are required.
  • Loan forgiveness after five years of residence.


  • Must reside in the home for five years for complete loan forgiveness.
Hometown Heroes

Aimed at frontline community workers, this program offers substantial assistance through low-interest first mortgages and up to $35,000 in down payment and closing cost assistance.


  • Competitive mortgage rates and reduced fees.
  • Significant financial assistance for eligible community heroes.


  • Limited to specific professions.
  • Payable in full if the home is sold or refinanced.

Applying for First-Time Homebuyer Programs in Florida

  1. Check Your Credit: Ensure your credit score is above 640 to qualify for most programs.
  2. Choose the Right Lender: Work with a lender approved by the Florida Housing Finance Corporation.
  3. Get Preapproved: Demonstrates to sellers that you are a serious buyer.
  4. Find the Funds: Consider Florida down payment assistance if savings are insufficient.
  5. Take a Homebuyer Education Course: Required for most programs to help you understand the buying process.
  6. Select a Real Estate Agent: A knowledgeable agent can guide you through the home selection and buying.
  7. Finalize Your Loan and Close: Complete the official loan approval process and close on your new home.

Additional Considerations

While these programs offer significant help, it’s essential to understand all conditions associated with them. Some programs require repayment under certain conditions, while others are forgivable after a certain period. Always review each program’s specific terms and conditions and consult with a housing counselor to ensure you choose the best option for your circumstances.

These supportive programs can make your home-buying journey in Florida much more attainable. Whether you’re looking to settle in vibrant Miami or the more laid-back settings of Cape Coral-Fort Myers, Florida’s first-time homebuyer programs are designed to help you achieve your homeownership dreams with financial ease and confidence.


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