Introduction

Becoming a first-time homebuyer in Florida is an exciting journey, but it can also be overwhelming. With rising home prices and the challenge of saving for a down payment, many prospective buyers feel discouraged. However, Florida offers several programs designed to make homeownership more accessible and affordable.

At North Star Mortgage Network, we’ve been guiding first-time homebuyers through the mortgage process for over 25 years. Our commitment is to provide transparent, personalized service to help you navigate the various assistance programs available.

Understanding First-Time Homebuyer Programs in Florida

Florida offers a range of programs to assist first-time homebuyers, including down payment assistance and favorable loan terms. These programs are primarily administered by the Florida Housing Finance Corporation (FHFC).

Florida Housing First Time Homebuyer Program
The FHFC’s First Time Homebuyer Program provides 30-year, fixed-rate mortgage loans to first-time buyers through participating lenders. Eligible borrowers may also qualify for down payment and closing cost assistance.
Learn more: Florida Housing First Time Homebuyer Program

Florida Bond Program: Up to $10,000 in Assistance

The Florida Bond Program is designed to help first-time homebuyers by offering low-interest loans and up to $10,000 in down payment assistance. This assistance can come in the form of:

  • No-Interest Deferred Loan: Repayment is deferred until you sell, refinance, or pay off your mortgage.
  • Low-Interest Second Mortgage: A 15-year loan with a fixed interest rate.

To qualify, you must be a first-time homebuyer, meet income and purchase price limits, and complete a homebuyer education course.
Learn more: Florida Bond Loan Program Guide

Additional Down Payment Assistance Programs

Florida Assist (FL Assist)
Offers up to $10,000 as a 0% interest, deferred second mortgage. Repayment is due when you sell, refinance, or no longer occupy the home.
Learn more: FL Assist Overview – Bankrate

Florida Homeownership Loan Program (FL HLP)
Provides up to $10,000 in assistance as a second mortgage at 3% interest over 15 years. Monthly payments are required.
Learn more: FL HLP – Bankrate

Hometown Heroes Program
Designed for frontline workers, this program offers up to 5% of the first mortgage amount (maximum $35,000) in down payment and closing cost assistance.
Learn more: Hometown Heroes Program

Eligibility Requirements

To qualify for these programs, you typically need to:

  • Be a first-time homebuyer (not owned a home in the past three years)
  • Meet income and purchase price limits specific to your county
  • Have a minimum credit score of 640
  • Complete a homebuyer education course
  • Use the home as your primary residence

Note: Veterans and buyers in federally designated targeted areas may be exempt from the first-time homebuyer requirement.
Source: Make Florida Your Home

How to Apply

  1. Consult with a participating lender like North Star Mortgage Network to assess your eligibility.
  2. Complete a homebuyer education course through an approved provider.
  3. Apply for the desired program through your lender.
  4. Once approved, move forward with your home purchase and apply the assistance at closing.

Why Work with North Star Mortgage Network?

As a local Florida mortgage broker with over two decades of experience, we specialize in helping first-time homebuyers secure the right loan and the best terms possible. We’re not tied to one bank, so we shop multiple lenders to get you the best deal. We also stay on top of all available state and local assistance programs—so you don’t miss out.

Our team is here to answer your questions, handle the paperwork, and keep things moving from pre-approval through closing. We serve all of Florida, with a focus on Jacksonville, St. Augustine, St. Johns County, and the surrounding areas.

Ready to Get Started?

Call or text us at 904-613-7700 or visit www.nsmn.com to schedule your free consultation. We’ll help you build a personalized mortgage plan, walk you through available programs, and get you one step closer to owning your first home.

Your best interest is our principal concern.

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