Category: State Programs | Published: September 11, 2025 | Reading Time: 12 minutes
Quick Summary: Florida offers excellent first-time home buyer assistance through the Florida Housing Finance Corporation providing up to $10,000 in down payment assistance, competitive interest rates, and various tax benefits. This complete guide walks you through every step with a free printable checklist.
Free Florida First-Time Buyer Checklist
Download our comprehensive printable checklist to track your progress through every step of the Florida first-time home buyer process.
Florida Housing Finance Corporation First-Time Homebuyer Program
Up to $10,000 assistance
The flagship program providing down payment and closing cost assistance through competitive interest rates and assistance loans.
Down payment assistance: Up to $10,000 for qualified buyers
Interest rate: Below-market fixed rates
Loan terms: 30-year fixed rate mortgages
Assistance loan: Deferred payment, 0% interest
Homeownership Pool Program
Competitive rates
Traditional fixed-rate mortgages with competitive interest rates for qualified first-time buyers.
Loan types: 30-year fixed rate
Down payment: As low as 3%
Credit score: Minimum 640
Available statewide: All 67 counties
HFA Preferred Plus
Enhanced benefits
Enhanced program offering additional benefits for qualified borrowers including reduced mortgage insurance.
Down payment: As low as 3%
Mortgage insurance: Reduced or eliminated
Credit score: Minimum 680
Special features: Enhanced underwriting flexibility
Step-by-Step Process for Florida First-Time Buyers
1
Determine Your Eligibility
First-Time Buyer Definition:
Haven't owned a home in the past 3 years
Single parent who owned with former spouse only
Displaced homemaker
Individual who owned non-traditional property only
Income Limits (2025):
Miami-Dade County: Up to $112,800 (1-person) / $161,200 (4-person)
Orange County (Orlando): Up to $105,000 (1-person) / $150,000 (4-person)
Hillsborough County (Tampa): Up to $98,700 (1-person) / $141,000 (4-person)
Broward County: Up to $112,800 (1-person) / $161,200 (4-person)
2
Complete Homebuyer Education
Required for all FHFC programs:
Choose HUD-approved counseling agency
Complete 8-hour homebuyer education course
Obtain certificate of completion
Course must be completed within 2 years of application
Tip: eHome America offers free online courses that are HUD-approved. Budget 2-3 days to complete the full course at your own pace.
3
Gather Required Documents
Income Documentation:
Pay stubs for past 30 days
W-2 forms for past 2 years
Tax returns for past 2 years
Bank statements for past 2 months
Employment verification letter
Asset Documentation:
Savings account statements
Checking account statements
Investment account statements
Retirement account statements
Gift letter (if applicable)
4
Find FHFC-Approved Lender
Use FHFC's Lender Directory:
Visit FloridaHousing.org lender directory
Search by your county or city
Contact multiple lenders for rate quotes
Verify lender offers your desired program
Important: Only FHFC-approved lenders can originate Florida Housing programs. Working with non-approved lenders will disqualify you from the programs.
5
Apply for Pre-Approval
Submit Complete Application Package:
FHFC loan application
Down payment assistance application
All required documentation
Homebuyer education certificate
Pre-approval fee (varies by lender)
Timeline: Pre-approval typically takes 3-5 business days
6
Shop for Homes
Property Requirements:
Must be your primary residence
Single-family homes, condos, townhomes eligible
Property must meet FHFC inspection standards
Purchase price must not exceed county limits
2025 County Loan Limits:
Miami-Dade County: $766,550
Orange County: $498,257
Hillsborough County: $498,257
Broward County: $766,550
Other counties: $498,257
7
Submit Purchase Contract
After Offer Acceptance:
Submit signed purchase contract to lender
Order home inspection and appraisal
Finalize loan application
Provide any additional documentation requested
Timeline: Standard 30-45 day closing period
8
Complete Final Loan Processing
Underwriting Process:
Lender submits file to FHFC for approval
Final income and asset verification
Property appraisal review
Clear any final conditions
Timeline: 7-14 days for final approval
9
Close on Your Home
Closing Day Tasks:
Review all closing documents
Sign loan documents and deed
Receive keys to your new home
Down payment assistance funds applied at closing
Pro Tip: Bring a cashier's check for any down payment amount not covered by assistance programs. Personal checks are typically not accepted at closing.
Printable Florida First-Time Buyer Checklist
Florida First-Time Home Buyer Checklist
Pre-Application Preparation
Verify first-time buyer eligibility (no home ownership in past 3 years)
Check income limits for your county
Complete HUD-approved homebuyer education course
Obtain homebuyer education certificate
Document Collection
Pay stubs for past 30 days
W-2 forms for past 2 years
Tax returns for past 2 years (complete with schedules)
Bank statements for past 2 months (all accounts)
Employment verification letter
Social Security card and driver's license
Investment/retirement account statements
Gift letter and gift funds documentation (if applicable)
Lender Selection & Pre-Approval
Research FHFC-approved lenders in your area
Contact multiple lenders for rate quotes
Submit complete loan application
Apply for down payment assistance
Receive pre-approval letter
Home Shopping & Purchase
Find qualified real estate agent
Verify properties meet FHFC requirements
Confirm purchase price within county limits
Submit purchase offer and negotiate terms
Order home inspection
Review inspection report and negotiate repairs
Loan Processing & Closing
Submit signed purchase contract to lender
Complete loan application and provide additional docs
Review appraisal report
Clear all underwriting conditions
Schedule final walk-through
Review closing disclosure
Prepare cashier's check for closing costs
Attend closing and sign documents
Post-Closing
Set up homeowner's insurance
Transfer utilities to your name
Register for loan servicing account
Keep all loan documents for tax purposes
Florida Tax Benefits for First-Time Buyers
Mortgage Credit Certificate (MCC) Program
Annual Tax Credit: Available in select counties, receive up to 20% of your mortgage interest as a federal tax credit each year. For example, if you pay $10,000 in mortgage interest, you could receive a $2,000 tax credit.
Property Tax Benefits
Homestead exemption reduces taxable value by up to $50,000
Additional exemptions for seniors and disabled veterans
Mortgage interest deduction on federal taxes
No state income tax in Florida
Important Florida Contacts
Florida Housing Finance Corporation (FHFC)
Phone: (850) 488-4197
Website: FloridaHousing.org
Hours: Monday-Friday, 8:00 AM - 5:00 PM EST
eHome America
Phone: (866) 240-9368
Website: eHomeAmerica.org
Service: Free online homebuyer education
❓ Frequently Asked Questions
How long does the Florida Housing loan process take?
From application to closing typically takes 30-45 days, similar to conventional loans. Allow extra time for homebuyer education completion if not already done.
Can I use Florida programs for condominiums?
Yes, condos are eligible if they meet FHFC requirements and are located in approved developments. Your lender can verify eligibility.
Is the down payment assistance forgivable?
The assistance loan is typically a deferred payment loan at 0% interest that becomes due when you sell, refinance, or no longer occupy the home as your primary residence.
Are there credit score requirements?
Minimum credit scores vary by program: typically 640 for most Florida Housing programs. Higher scores may qualify for better rates and terms.
Ready to Calculate Your Florida Mortgage?
Use our advanced mortgage calculator to estimate your monthly payments with current Florida interest rates and down payment assistance.
Florida's first-time home buyer programs provide excellent assistance to help you achieve homeownership. The Florida Housing Finance Corporation programs can provide up to $10,000 in down payment assistance, while offering competitive rates and flexible terms.
Success with these programs requires careful preparation, especially completing homebuyer education early and working with FHFC-approved lenders. Use the printable checklist above to stay organized throughout your home buying journey.
Remember that program requirements and benefits can change, so always verify current details with FHFC or your approved lender before making decisions.
Need help with your mortgage calculations?
Our mortgage calculator includes Florida-specific features to help you plan your home purchase with state assistance programs.