First-Time Buyer Programs
in Florida

Under most Florida Housing programs, a first-time buyer is anyone who has not owned and occupied a primary residence in the past three years. This definition is broader than many buyers expect: someone who owned a home five years ago and has been renting since may qualify. Exceptions exist for veterans and buyers in certain federally designated target areas, where the three-year requirement may not apply. Confirming your ownership history with a participating lender is the clearest way to establish eligibility before searching for homes.

Florida Housing offers assistance as a second mortgage that covers a percentage of the purchase price. Depending on the specific program, this second mortgage is either deferred, meaning no payments are due until sale or refinance, or forgivable over a set number of years. The assistance does not arrive as cash; it is applied at closing to reduce what you need to bring to the table. The structure that fits you depends on how long you plan to stay in the home, because leaving before a forgivable loan's term ends typically triggers repayment.

Yes. Florida Housing's assistance programs are specifically structured to work alongside approved base loan types, and FHA is among the most common pairings. The FHA loan covers the primary mortgage; the assistance second mortgage addresses some or all of the down payment and closing costs. Both the first and second mortgage must be from a Florida Housing-approved participating lender, and both approvals happen simultaneously, so the underwriting timelines run in parallel rather than sequentially.

Income limits vary by county and by program, so a household income that qualifies in one Florida county may exceed the cap in another. Purchase price limits also apply and differ by county and loan type. Because these limits are updated periodically, the most reliable approach is to request current limit tables from a participating lender early in your search, before you identify a specific property, so you can set a realistic price range with accurate program eligibility in mind.

Not always. Florida Housing programs also support conventional base loans for buyers who meet the credit and income thresholds. A conventional base loan avoids FHA's mortgage insurance premium structure and may result in lower long-term insurance costs for buyers with stronger credit profiles. However, FHA loans have more flexible credit guidelines, which makes them a better fit when a buyer's credit score or DTI is closer to the qualifying edge. Comparing the total monthly cost of each option, including all insurance, is more useful than comparing down payment requirements alone.

The answer depends on which assistance structure you used. A deferred second mortgage typically becomes due in full when you sell, refinance, or transfer the property. A forgivable second mortgage is forgiven incrementally over a fixed period, and selling or refinancing before that period ends requires repaying the unforgiven balance. Buyers who expect to move within a few years should factor potential repayment into their financial planning before choosing a program, because the assistance that looks most attractive at closing may not be the least expensive option over a short holding period.

Florida Housing maintains a list of participating lenders who are trained and approved to originate loans paired with its assistance programs. Not every mortgage lender in Florida is on that list, and assistance funds cannot be combined with a base loan from a non-participating lender. Confirming that your lender is an active Florida Housing participant before you begin the application process prevents delays that can affect your ability to close on a specific property within a contract timeline.