The Florida Housing Bond Program helps eligible Florida homebuyers purchase a home with affordable financing and valuable down payment assistance. If you are a first-time homebuyer, veteran, active-duty military member, or eligible Florida worker, the Florida Housing Bond Program may help make homeownership more affordable.

This state-sponsored program offers competitive 30-year fixed-rate mortgages and assistance programs designed to reduce the amount of money needed at closing. For many buyers, the Florida Housing Bond Program can be the difference between continuing to rent and becoming a homeowner.

At North Star Mortgage Network, we help Florida homebuyers determine if they qualify and guide them through the entire process.

What Is the Florida Housing Bond Program?

The Florida Housing Bond Program is administered by the Florida Housing Finance Corporation. The program uses tax-exempt mortgage revenue bonds to provide affordable home financing to qualified borrowers throughout Florida.

The program is designed to:

• Increase homeownership opportunities
• Provide affordable mortgage financing
• Offer down payment assistance
• Reduce upfront homebuying costs
• Help qualified borrowers achieve long-term housing stability

The Florida Housing Bond Program can be paired with FHA, VA, USDA, and Conventional financing options.

Florida Housing Bond Program Benefits

The Florida Housing Bond Program offers several important advantages for homebuyers.

Down Payment Assistance

Many qualified borrowers may receive assistance that can be used toward:

• Down payment requirements
• Closing costs
• Prepaid expenses

This assistance can significantly reduce the cash needed to purchase a home.

Affordable Fixed Mortgage Rates

The Florida Housing Bond Program offers stable 30-year fixed-rate financing. Fixed-rate mortgages provide predictable monthly payments and protection from future rate increases.

Multiple Loan Options

The Florida Housing Bond Program works with:

• FHA Loans
• VA Loans
• USDA Loans
• Conventional Loans (Fannie Mae)

This flexibility allows borrowers to select the mortgage program that best fits their needs.

Florida Housing Bond Program Eligibility Requirements

Before applying, borrowers should understand the basic eligibility guidelines.

First-Time Homebuyer Requirement

Most borrowers must not have owned a primary residence during the past three years.

However, there are important exceptions.

The first-time homebuyer requirement may be waived for:

• Qualified veterans
• Active-duty military members
• Buyers purchasing in designated Targeted Areas

Credit Score Requirements

Most Florida Housing programs require:

• Minimum 640 FICO Score

A higher credit score may improve financing options and loan terms.

Homebuyer Education

Borrowers are generally required to complete a homebuyer education course before closing.

The course helps buyers understand:

• Budgeting
• Credit management
• Mortgage financing
• Homeownership responsibilities
• Closing costs

Florida Housing Bond Program Income Limits

The Florida Housing Bond Program has household income limits that vary by county and household size.

One unique feature is that all household income may be considered when determining eligibility.

This includes income from adults age 18 and older living in the home.

Household income limits are reviewed regularly and vary throughout Florida.

A mortgage professional can help determine whether your household falls within the current limits.

Florida Housing Bond Program Household Income Rules

Many buyers are surprised to learn that household income is calculated differently than mortgage qualifying income.

Under Florida Housing guidelines:

• Income from all household members may be considered
• Non-borrowing spouse income may be included
• Household size impacts income limits
• Co-signer income is generally excluded from household income calculations

However, co-signer income may still be used to help qualify for the mortgage payment.

Understanding these rules is important because they can affect eligibility for the Florida Housing Bond Program.

Florida Housing Bond Program Documentation Requirements

Borrowers should be prepared to provide documentation verifying household income and eligibility.

Typical documentation may include:

• Three years of tax returns
• W-2 forms
• Recent pay stubs
• Asset statements
• Verification of Rent when tax returns are unavailable

Veterans and borrowers purchasing in designated Targeted Areas may be exempt from certain first-time homebuyer requirements.

Florida Housing Bond Program Loan Options

Florida Housing Bond Program FHA Loans

FHA financing remains one of the most popular options for first-time homebuyers.

Benefits include:

• Lower down payment requirements
• Flexible credit guidelines
• Competitive financing

Florida Housing Bond Program VA Loans

Veterans and active-duty military members may benefit from:

• No down payment financing
• Competitive interest rates
• Veteran eligibility exemptions

Florida Housing Bond Program USDA Loans

USDA financing may offer:

• Zero down payment financing
• Affordable monthly payments
• Financing for eligible rural areas

Florida Housing Bond Program Conventional Loans

Conventional financing offers:

• Competitive mortgage insurance options
• Flexible property choices
• Strong financing solutions for qualified borrowers

Florida Housing Bond Program Debt-To-Income Requirements

The Florida Housing Bond Program generally allows a maximum debt-to-income ratio of 50%.

This means your monthly debts, including your future housing payment, should typically remain within program guidelines.

A mortgage review can determine whether your debt-to-income ratio qualifies.

Florida Housing Bond Program for Veterans

The Florida Housing Bond Program offers special opportunities for veterans.

Qualified veterans may:

• Be exempt from first-time homebuyer requirements
• Use VA financing
• Receive down payment assistance
• Benefit from affordable financing options

Many veterans are surprised to learn they qualify even if they have recently owned a home.

Florida Housing Bond Program in Jacksonville, Florida

The Florida Housing Bond Program is a popular option throughout Northeast Florida.

This includes:

• Jacksonville
• St. Johns County
• Clay County
• Nassau County
• Duval County
• Baker County

As a local Jacksonville mortgage broker, North Star Mortgage Network helps homebuyers understand eligibility requirements, income limits, and available down payment assistance options.

We proudly serve homebuyers throughout Florida and have been helping families achieve homeownership since 2000.

Is the Florida Housing Bond Program Right for You?

The Florida Housing Bond Program may be a good fit if you:

• Need down payment assistance
• Have a 640+ credit score
• Are a first-time homebuyer
• Are a veteran or active-duty military member
• Need help with closing costs
• Want affordable fixed-rate financing

Many borrowers qualify when they least expect it.

The best way to know for sure is to complete a mortgage review with a Florida Housing approved lender.

Contact North Star Mortgage Network Today

If you are considering buying a home in Jacksonville or anywhere in Florida, we would be happy to help.

We can review:

• Florida Housing Bond Program eligibility
• Income limits
• Household income calculations
• Down payment assistance options
• FHA, VA, USDA, and Conventional financing