Most first-time buyers in Jacksonville come to us with the same two questions: how much do I actually need, and will I even qualify. The honest answer to both is that it depends on numbers we can run in about fifteen minutes — and we can do it without your Social Security number.

North Star Mortgage Network has been financing Jacksonville homes since April 2000. Nathan Young works your file directly from the first call through closing.

What You Actually Need to Put Down

FHA — 3.5% down. With a credit score of 580 or higher you need 3.5% of the purchase price. On a $300,000 home that is $10,500. FHA is the most forgiving program on credit history and on debt ratios, which is why it carries so much first-time buyer volume.

Conventional — as little as 3% down. If your credit is strong, a 3% conventional loan often beats FHA overall, because the mortgage insurance is cancellable and FHA's generally is not. Which one wins depends on your score and how long you plan to stay. We run both.

VA — zero down. If you or your spouse served, this is almost always the best option available: no down payment and no monthly mortgage insurance.

USDA — zero down. Parts of Clay and Nassau County, and the outer edges of Duval, qualify for 100% USDA financing. People are routinely surprised by how close to Jacksonville the eligible areas start. We can check any address.

2026 FHA Limits Here

The FHA one-unit limit for 2026 is $580,750 across the Jacksonville metro. That figure is the same in Duval, Clay, St. Johns and Nassau counties, because FHA sets limits at the metro level rather than county by county — a point that is frequently reported wrong. Two-unit is $743,450, three-unit $898,700, four-unit $1,116,850.

The Mortgage Insurance Detail Nobody Explains

FHA charges an upfront premium of 1.75% of the loan, which is normally financed in, plus an annual premium collected monthly. The annual premium is 0.55% at the minimum down payment. Putting 5% down drops it to 0.50%.

Here is the part that matters more: FHA mortgage insurance lasts the life of the loan unless you put at least 10% down, in which case it drops off after 11 years. Conventional PMI, by contrast, cancels once you reach 20% equity — and that calculation is based on your original purchase price, not a new appraisal. Over a ten-year hold that difference can be substantial, and it is why we model both loans side by side rather than defaulting you into FHA.

Down Payment Assistance

Florida runs several assistance programs. Hometown Heroes offers up to $35,000 toward down payment and closing costs as a zero-interest second mortgage with no monthly payment, repaid only when you sell, refinance, or stop living in the home. It covers more than fifty professions — teachers, nurses, law enforcement, firefighters, military, childcare, social work and many others. You generally cannot have owned a home in the past three years, though veterans are often exempt, and income limits apply by metro area.

Duval County runs its own program too. Headstart to Homeownership (H2H) offers up to $25,000 from the City of Jacksonville — not the $50,000 you will see quoted on some websites — and it is a repayable second mortgage rather than a grant. It has real trade-offs worth understanding before you commit to it.

Funding for Hometown Heroes runs in rounds and rounds have closed quickly in the past. Call us and we will tell you where it stands today rather than guessing. Florida Bond and other assistance programs may also fit depending on your situation.

Start Without a Credit Pull

Your first conversation with us is a soft pre-qualification. We need four things: an idea of your credit score, your gross monthly income, the price range you are considering, and what you have available for a down payment. No Social Security number, no hard inquiry, no obligation.

As an independent brokerage we shop your file across 55 wholesale lenders. Credit overlays differ enormously between them — a score one lender declines, another approves at a good rate. A bank can only offer you the bank.

Check today's rates, read about FHA loans and Hometown Heroes, or see our pages for St. Johns County and Orange Park.

First-Time Buyer Questions in Jacksonville

How much do I need to buy a $300,000 home in Jacksonville?

With FHA at 3.5% down, $10,500 plus closing costs. With a 3% conventional loan, $9,000 plus closing. With VA or USDA, if you qualify, nothing down. Sellers can also contribute toward your closing costs, which changes the cash-to-close number significantly.

What credit score do I need?

FHA's 3.5% down option starts at 580. Below that, down to 500, FHA requires 10% down. Conventional generally wants higher. But the score is only part of it — different wholesale lenders apply different overlays to the same program, so a file one lender declines another approves. That is the advantage of working with a broker.

Is the FHA loan limit different in Clay or St. Johns County?

No. FHA sets limits at the metropolitan level, so Duval, Clay, St. Johns and Nassau all share the same 2026 one-unit limit of $580,750. This is commonly reported incorrectly as varying by county.

Can I get down payment assistance in Jacksonville?

Possibly. Florida Hometown Heroes offers up to $35,000 as a zero-interest second mortgage for more than fifty professions, subject to income limits and a three-year no-ownership rule that veterans are often exempt from. Funding runs in rounds that have closed quickly in the past, so call us for current status rather than relying on any website.

All figures are estimates based on information provided and are not a commitment to lend. All loans subject to credit approval. North Star Mortgage Network, Inc., Company NMLS #356789 · Nathan Young NMLS #325206 · 12058 San Jose Blvd, Suite 404, Jacksonville, FL 32223 · 904-880-6741. Equal Housing Lender.