2026 Florida First-Time Homebuyer Programs and Loans

If you’re ready to purchase a home, Florida first-time homebuyer programs can jump-start your path to homeownership. These programs offer affordable mortgages, down payment assistance and other help to prospective buyers.

Learn everything you need to know about first-time homebuyer programs in Florida, including how to qualify and where to apply. 

First-time homebuyer programs in Florida

The Florida Housing Finance Corporation (Florida Housing) offers several first-time homebuyer programs designed to help residents of the Sunshine State purchase a home. These programs include affordable mortgages, down payment support and specialty loans for eligible borrowers. In addition to the statewide programs described here, many local housing authorities across Florida offer their own city- or county-level homebuyer programs.

Florida Housing Homebuyer Loan Program

The Florida Housing Homebuyer Program offers 30-year fixed-rate mortgages for first-time buyers, including conventional, FHA, FHA 203(k), VA and USDA loans. Borrowers can use the loan to purchase a single-family home, townhouse, approved condominium, approved modular or mobile home or a two- to four-unit property that they plan to live in. Applicants can also combine the mortgage with one of the agency’s down payment assistance programs. This program is a good option for first-time homebuyers with fair to good credit, looking for an affordable loan and help with their down payment and closing costs. 

Requirements

Pros and cons

Florida Assist

In addition to its first mortgages, Florida Housing offers down payment assistance (DPA) programs. Florida Assist (FL Assist) provides up to $10,000 toward down payment and closing costs as a zero-interest, deferred second mortgage. This program is a good option for borrowers participating in the Homebuyer Loan Program with limited savings for a down payment and closing costs.

Requirements

Pros and cons

Florida Homeownership Loan Program

The Florida Homeownership Loan Program (FL HLP) is another DPA program available to borrowers getting a Florida Housing first mortgage. It offers up to $12,500 in down payment and closing cost assistance as a 3% fully amortizing, 30-year second mortgage. The loan carries a monthly payment of $52.70, with the remaining balance deferred until the home is sold, refinanced, transferred or paid off. It’s a good option for homebuyers who need more down payment and closing cost assistance than FL Assist and who can afford the monthly payment.

Requirements

Pros and cons

HFA Preferred and HFA Advantage PLUS Second Mortgage

Florida Housing’s HFA Preferred and HFA Advantage PLUS program pairs a conventional first mortgage with down payment and closing cost assistance in the form of a forgivable second mortgage. In addition to a home loan, borrowers take out a second mortgage for 3%, 4% or 5% of the first mortgage amount, forgiven at 20% per year over five years. This program is a good option for conventional loan homebuyers looking for down payment and closing cost assistance and who plan to live in their home for at least five years.

Requirements

Pros and cons

Florida Hometown Heroes Housing Program

The Florida Hometown Heroes (HTH) Program offers homebuying assistance to eligible community workers employed full-time in the state. The program combines an affordable first mortgage with down payment and closing cost assistance. The first mortgage features low interest rates and reduced fees, while the down payment assistance is a 0% deferred second mortgage up to 5% of the first mortgage amount, not to exceed $35,000. This program is a good option for frontline workers such as firefighters, teachers, law enforcement officers and active military members or veterans who are looking for substantial down payment and closing cost assistance.

Requirements

Pros and cons

Florida first-time homebuyer qualifications

To qualify for a program through Florida Housing, you’ll need to follow the agency’s specific application process. Other housing agencies across the state may use different procedures for their homebuying programs.

Steps to apply for a first-time homebuyer program

Qualifying for one of these state programs requires a little legwork. Here’s a breakdown of the steps to apply for a Florida first-time homebuyer program:

Understanding Florida first-time homebuyer down payment assistance

The state of Florida offers a variety of programs to help first-time homebuyers cover their down payment and closing costs. Of the 196 DPA programs in Florida, 132 (about 67%) had available funding as of the last quarter of 2025, according to Down Payment Resource’s homeownership program index.

Down payment assistance comes in various forms; knowing the difference will ensure you apply to programs that best fit your needs. 

Deferred second mortgage

Requires repayment? Yes

A deferred second mortgage, also known as a “soft second,” is an additional home loan that does not have traditional monthly payments. In most cases, repayment occurs when you sell, refinance, pay off the mortgage or no longer live in the home. The Florida Housing FL Assist program is a deferred second mortgage. Notably, the agency’s Homeownership Loan Program is a second mortgage with a monthly payment that pays a portion of the principal while the remaining balance is deferred.

Forgivable second mortgage

Requires repayment? No (as long as you meet program terms) 

A forgivable second mortgage is also a “soft” or “silent” second mortgage. You typically don’t need to make any payments, and the loan is forgiven after you live in the home for a certain period of time. However, if you move, refinance, pay off or sell before the required time, you’ll need to pay back a portion of the loan. Florida Housing’s HFA Preferred and HFA Advantage PLUS program is a forgivable second mortgage.

Grant

Requires repayment? No 

A down-payment-assistance grant gives you a certain amount of money, usually a percentage of your home loan, to help with a down payment and closing costs. You don’t need to repay these funds.

Mortgage credit certificate

Requires repayment? No 

A mortgage credit certificate (MCC) gives qualifying homebuyers a federal tax credit of up to $2,000 for mortgage interest paid annually. The credit amount is determined by the mortgage principal and interest rate. Florida no longer offers an MCC on the state level; however, some counties or cities may offer one. 

How much of a down payment do I need to buy a house in Florida? 

Minimum down payments on mortgages range from 0% to 20% of the home price, depending on the loan program. Notably, the median down payment on a loan was 15% of the mortgage amount in 2024, and the median down payment in Florida was $45,000, according to a recent LendingTree analysis of mortgage purchase inquiries on the platform.

Can I qualify for down payment assistance in Florida?

Florida Housing’s requirements for down payment assistance include participation in its first mortgage programs and meeting the county limits for your home purchase price and income. Other down payment assistance programs throughout the state may have different requirements.

How do I apply for Florida first-time homebuyer down payment assistance? 

You must get a Florida Housing first mortgage to qualify for its down payment assistance programs. Start the process by applying with a participating lender, who will let you know what loans and down payment assistance you qualify for. To find other programs throughout the state, browse HUD’s Florida Homepage.

Other first-time homebuyer loan programs

Conventional loans

Conventional loans are mortgages that are not a part of a government program. There are different types of conventional loans, including fixed-rate loans, adjustable-rate mortgages (ARMs) and low-down-payment programs. Benefits may include competitive mortgage rates, while downsides may include a higher credit score threshold.

FHA loans 

FHA loans are mortgages backed by the Federal Housing Administration (FHA). The benefits of FHA loans include easier qualification requirements and lower down payments. Also, FHA loan rates are typically lower than conventional loan rates. Downsides to FHA loans may include lower maximum loan limits and ongoing mortgage insurance.

VA loans

VA loans are mortgages backed by the Department of Veterans Affairs (VA) and are available to veterans, service members and eligible surviving spouses. VA loans offer competitive VA loan rates, limited closing costs, no down payment requirement and no ongoing mortgage insurance.

USDA loans

USDA loans are backed by the U.S. Department of Agriculture (USDA). Available to low- and moderate-income borrowers purchasing a home in designated rural areas, USDA loans have no down payment requirement and no official minimum credit score, although some lenders look for a score of 640 or higher.

What are the best first-time homebuyer loans?

To find the right loan for you, consider factors like your credit score, income and the amount you have saved for a down payment and closing costs. Other criteria, such as whether you’re a veteran or live in a rural area, also may determine whether you qualify for certain types of loans.

Home price trends in Florida’s major areas

Home prices in Florida declined between the end of 2024 and the end of 2025, with the state seeing the largest average price drop in the country at 2.7%, according to the Federal Housing Finance Agency (FHFA) House Price Index. The depreciation contrasts with national trends; 41 states experienced home price increases with an average growth of 1.8%. Florida’s housing market has cooled in part due to slowing home purchases and growing concerns about natural disasters and rising insurance costs. In fact, 10 of the 20 U.S. metro areas with the largest price declines during that period were located in Florida, with Punta Gorda seeing the biggest drop at 9.3%.

Not all Florida metros followed that downward trend, however. Home prices in the Miami–Miami Beach–Kendall metropolitan area — the largest metro area in the state — rose 1.54%, while nearby West Palm Beach–Boca Raton–Boynton Beach saw an even larger increase of 2.55%. By contrast, prices in the Cape Coral–Fort Myers metropolitan area fell 9.1%, the steepest decline among the nation’s 100 largest metros. 

What are the current mortgage rate trends in Florida?

Interest rates on both 30-year and 15-year fixed mortgages in Florida fell throughout 2025 and into early 2026, with rates currently at their lowest level since 2022. The current LendingTree mortgage rates forecast predicts that interest rates will continue to hover around the 6% mark, with the possibility of dipping below that level later in 2026.