Florida First-Time Home Buyer Information

Homeownership has long been considered the cornerstone of the American dream. Now more than ever, there are a host of programs available to help first-time homebuyers and those with less than perfect credit purchase a home. 

 

In addition to the Federal Housing Administration programs, there are a number of state and local programs in Florida that provide additional assistance. To learn more about these exciting programs and discuss your mortgage options, talk to a lending professional at Dynamic funding today.  Our experienced customer service representatives can help you determine whether you meet the credit score requirements and related loan requirements. Whatever option you decide, we will provide you with the knowledge and assistance to navigate the entirety of the process. 

First-Time Homebuyer Assistance Programs for 2022

The state of Florida has a number of homebuyer assistance programs including:

 

  • Florida First. This is a program for federally-insured loans and HFA conventional loans that offers 30-year fixed-rate mortgages at attractive rates. 
  • Florida Assist Second Mortgage Program. Commonly referred to as Florida Assist, this program allows eligible borrowers to receive a loan of up to $7,500 with zero percent interest. This second mortgage can be used as a down payment on a conventional loan. For FHA, VA, and USDA loans, the maximum amount is raised to $10,000. Repayment is deferred until the home is sold or the borrower refinances. 
  • HFA Preferred Grants. This program grants qualified borrowers up to five percent of the purchase price to use towards a down payment. This is also a second mortgage, however, after five years it is forgiven. 
  • Florida Homeownership Loan Program (FLHLP). This program provides borrowers a second mortgage up to 3% of the purchase price to be used for a down payment. 

First-Time Homebuyer Programs Near You

Wherever you are located in Florida, there are first-time homebuyer assistance programs near you. Some of the state’s premier local homebuyers assistance programs include:

 

  • Broward County Homebuyer Purchase Assistance Program. This program offers down payment assistance to qualified Broward County residents. 
  • Escambia County Down Payment and Closing Cost Assitance. This program creates zero-interest loans for first-time homebuyers. The proceeds, up to $7,500, are to be used for down payment and closing costs. 
  • HFA Miami-Dade Mortgage Program. A program of the Housing Finance Authority of Miami-Dade, this program creates funds for down payment and closing costs. 
  • Hardest Hit Fund Down Payment Assistance. A Hillsborough County program for creating down payments and closing costs to residents. 
  • Head Start to HOME Ownership. A program of the City of Jacksonville, H2H provides down payment and closing cost assistance to eligible applicants. 
  • Home Key Plus 2nd Mortgage. Pinellas County program offering down payment assistance. 
  • Home Homeownership Program. A program of the Housing Finance Authority of Manatee County offering down payment assistance to qualified applicants. 
  • The Tallahassee Lenders Consortium First-Time Homebuyer Program. This program provides down payment funds for first-time homebuyers in Tallahassee. 
  • Miami First-Time Homebuyer Program. The City of Miami has created a program that provides low-interest loans to eligible Miami residents. 
  • City of Orlando First-Time Down Payment Assistance Program. This program for Orlando residents creates assistance to eligible applicants for help with down payments and closing costs. 
  • St. Petersburg Purchase Assistance Program. The City of St. Petersburg has a municipal program providing financial assistance to first-time home buyers. 
  • Duval County Home Sweet Home Program. This program offers down payment and closing cost funds for eligible participants. 

How Do I Apply?

If you and your family are interested in homebuyer assistance programs in Florida, talk to one of the customer service specialists at Dynamic Funding today. Call us at (215) 364-7171 or fill out the contact form on our website.

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