Ask Nanci
Is there down payment assistance for first-time buyers in Florida?
Short Answer
Yes. Florida Housing and county programs can assist with a down payment and closing costs for eligible first-time buyers. Florida Assist offers up to $10,000 as a zero-interest deferred second mortgage, and HFA forgivable second mortgage options cover 3 to 5 percent of the loan. Programs carry income limits, purchase price caps, and credit requirements, and funding cycles open and close, so timing matters.
General information, not legal or financial advice.
The main programs
Florida Housing runs the state's homebuyer programs. Florida Assist provides up to $10,000 at zero interest as a deferred second mortgage for the down payment and closing costs, repaid when you sell, refinance, or pay off the first mortgage.
The HFA Preferred and HFA Advantage PLUS options pair a second mortgage of 3, 4, or 5 percent of the loan with an eligible first mortgage, and part of that assistance is forgiven over five years of ownership.
Who qualifies
Programs generally require a credit score around 640 or higher, first-time buyer status, and completion of an approved homebuyer education course. There are income limits and purchase price caps that vary by county, so your exact eligibility depends on where you buy and what you earn.
Some programs also have local versions through county housing offices, including Miami-Dade and Broward, which can offer their own assistance on top of the state programs.
The parts that trip buyers up
Funding is awarded in cycles, and some programs run out of money within months of reopening. It matters to check current availability before you plan around a specific program.
Assistance also comes with conditions: the education course, the income and price caps, and how the second mortgage is repaid or forgiven. Understanding those conditions up front keeps the closing smooth.
How it fits a real budget
Down payment assistance lowers the amount you need in cash, which can be the difference between buying now and waiting. It does not change the monthly payment by itself, so we still build the full picture: mortgage, taxes, insurance, and any HOA fees.
A lender who works with Florida Housing programs daily will give you the most accurate path, and I work with lenders who know these programs well.
How Nanci can assist
I connect you with a lender who stays current on what is open in Miami-Dade and Broward, review the program requirements with you, and make sure the offer and contract line up with the program's rules and deadlines.
This is general information, not financial advice. Your lender confirms the program details and your eligibility.
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