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First-time home buyer programs in Florida

By Mariela Lovo Ol, REALTOR® · Updated

First-time home buyer programs in Florida come from two main places. One is Florida Housing Finance Corporation, the state's housing finance agency. The other is federal loan programs such as FHA, VA and USDA. Some add down payment help. Others lower the cash you need at closing. Here is how each one works and where to check today's terms.

Who counts as a first-time home buyer?

Under the federal housing rule, you are a first-time buyer if you have not owned a home in the three years before you buy. The same goes for your spouse. The rule also covers single parents and displaced homemakers who owned a home only with a former spouse. It also covers buyers whose only past home was not on a permanent foundation.

Each program uses its own version of this rule. Some waive it for veterans or in certain areas. Check your status with the lender before you plan around a program.

What does Florida Housing offer first-time buyers?

The Florida Housing Homebuyer Program is a 30-year fixed-rate first mortgage. You get it through lenders that take part in the program. You need a credit score of at least 640 and first-time buyer status. You also need to finish an approved homebuyer class, and your household income must be under the county limit. Price limits change by county.

Florida Housing pairs that mortgage with loans for down payment and closing costs. These include Florida Assist and the Florida Homeownership Loan Program. Amounts and repayment terms are on the Florida down payment assistance page.

Is Florida Hometown Heroes available right now?

Hometown Heroes gives first-time buyers who meet income limits up to 5% of the first mortgage amount. The minimum is $10,000 and the maximum is $35,000. It is a 0%, deferred second mortgage, and it is not forgiven. You pay it back when you sell, refinance, transfer the deed or stop living in the home.

Buyers who can qualify include health care workers, school staff and first responders. Public safety and court workers, child care workers, service members and veterans can qualify too. Funding comes in rounds and goes fast. Florida Housing reported that all of the 2025 round was committed within six months. eHousingPlus runs Florida Housing's home buyer loans. On September 24, 2026, it listed funds available for the 2026 round.

How do FHA, VA and USDA loans help first-time buyers?

FHA loans are insured through HUD. They allow a down payment as low as 3.5% of the price. VA loans let eligible service members and veterans buy with no down payment, as long as the price is not above the appraised value. VA loans also skip monthly mortgage insurance. A one-time funding fee still applies, and you need a Certificate of Eligibility.

USDA guaranteed loans offer 100% financing in eligible rural areas. They are for households earning up to 115% of the area median income. Eligibility is set address by address. Check any Lee County home on USDA's eligibility map before you count on this option.

How do I choose between these programs?

Start with a lender that offers Florida Housing programs as well as FHA, VA or USDA loans. Ask for Loan Estimates side by side. Compare the rate, the total cash to close, and how any help is paid back. A forgivable or deferred second loan can make a low-cash option cost more later.

Test the monthly payment with the affordability calculator and the mortgage calculator. Then watch current mortgage rates in Florida while you shop.

What should I do before I make an offer?

Finish your homebuyer class early, since several programs require it before closing. Get pre-approved with a lender in the program. Ask which programs you qualify for today. Then talk with Mariela about homes in your price range. She is a REALTOR®, not a lender. She works out dates with your loan officer.

Programs change, and funding can run out with little notice. Check current terms, limits and funding with Florida Housing and a lender in the program before you sign a contract.

Common questions

Do I have to be a first-time buyer to get help in Florida?

For most Florida Housing first mortgages and for Hometown Heroes, yes. Under the federal rule, that means you have not owned a home in the past three years. FHA and VA loans have their own rules. Ask a lender which options fit your history.

What credit score do Florida Housing programs require?

Florida Housing lists a credit score of at least 640 for its Homebuyer Program. Lenders can add their own rules. A lender in the program will tell you what applies to you.

Is Hometown Heroes money forgivable?

No. Hometown Heroes is a 0% deferred second mortgage. You pay it back when you sell, refinance, transfer the deed or stop living in the home. There is no monthly payment on it while you live there.

Can I use a USDA loan in Lee County?

Only if the exact address is in a USDA eligible area and your household meets the income limit. Check the address on USDA's eligibility site. Then confirm with a USDA-approved lender.

How much house can I afford? Contact

Sources

  1. Primary Mortgage Market Survey (PMMS), Freddie Mac (read 2026-09-24)
  2. Loan Estimate explainer, Consumer Financial Protection Bureau (read 2026-09-24)
  3. What is a Loan Estimate?, Consumer Financial Protection Bureau (read 2026-09-24)
  4. What's a lock-in or a rate lock?, Consumer Financial Protection Bureau (read 2026-09-24)
  5. What is the difference between a mortgage interest rate and an APR?, Consumer Financial Protection Bureau (read 2026-09-24)
  6. Selling Guide B4-2.1-01, General Information on Project Standards (08/05/2026), Fannie Mae (read 2026-09-24)
  7. Homebuyer Programs overview, Florida Housing Finance Corporation (read 2026-09-24)
  8. Florida Hometown Heroes Housing Program, Florida Housing Finance Corporation (read 2026-09-24)
  9. Press Releases 2026 (Florida Hometown Heroes Program 2025, Feb. 27, 2026), Florida Housing Finance Corporation (read 2026-09-24)
  10. Florida Housing Finance Corporation Program Highlights (Hometown Heroes 2026), eHousingPlus (read 2026-09-24)
  11. 42 U.S. Code § 12704 — Definitions (first-time homebuyer), Legal Information Institute, Cornell Law School (read 2026-09-24)
  12. Loans (FHA), U.S. Department of Housing and Urban Development (read 2026-09-24)
  13. VA-backed purchase loan, U.S. Department of Veterans Affairs (read 2026-09-24)
  14. Single Family Housing Guaranteed Loan Program, USDA Rural Development (read 2026-09-24)
  15. Financial Assistance — Home Purchase Assistance (HOME Program, NSP), Lee County Human & Veteran Services (read 2026-09-24)
  16. Housing and Grants, City of Cape Coral (read 2026-09-24)
  17. Home Purchase Assistance, City of Fort Myers (read 2026-09-24)

For illustration only. This is not a loan offer, a commitment to lend, or an advertisement of credit terms. Actual rates, payments and eligibility depend on your lender, credit, and the property. Talk to a licensed loan officer for a quote.