FIRST TIME HOMEBUYER PROGRAMS

Florida Housing's First Time Homebuyer (FTHB) program provides low interest, fixed-rate mortgages as well as down payment and closing cost assistance to eligible first-time homebuyers purchasing new or existing homes in Florida.

Florida Housing's First Time Homebuyer Program also offers special incentives for selected occupations, including education, sworn officers, healthcare and all military. Incentives are also available for people with disabilities and homebuyers purchasing in federally designated and other targeted areas. 

FIRST TIME HOMEBUYER PROGRAMS offered by Florida Housing are as follows:

  • Florida First: This program helps borrowers by offering a low 30 year fixed rate loan. It is for borrowers that need the low rates to make their monthly payments more affordable.
  • Florida Plus: This program offers a low 30 year fixed rate loan and 4% of the loan amount to borrowers as a grant to help pay down payment and closing costs. ~ Florida Advantage: This program offers very low rate to borrowers in Urban Infill Areas, Front Porch Florida Community Areas, Rural Development Self-Help and HOPE VI Project Areas and for disabled households. This program is for buyers at a lower income level.
  • Florida Heroes: This program helps borrowers that are education professionals, sworn officers of the state of Florida, healthcare professionals, and all active duty military and veterans with a very low interest rate on a mortgage.
  • Florida 40: This program helps borrowers by allowing them to spread their loan payments over a 40 year time frame.
  • Florida 40 Plus: This program offers the benefits of a 40 year loan term and 4% of the loan amount as a grant to the borrower to help pay with down payment and closing costs.
  • Mortgage Credit Certificate Program: First-time homebuyers can also take advantage of Florida Housing's Mortgage Credit Certificate Program, which provides a tax credit of up to $2,000 annually. This program is designed to benefit those who generally incur a federal income tax liability. The credit certificate is available for as long as the homebuyer stays in the home.

DOWN PAYMENT ASSISTANCE PROGRAMS offered by Florida Housing are as follows:

  • Florida Assist: offers moderate income borrowers up to $10,000 to assist with down payment and closing costs. This loan is offered at 0% interest and only must be repaid if the borrower sells or refinances the home.
  • Homeownership Assistance for Moderate Income Loan (HAM I): offer up to $5,000 to assist with down payment and closing costs. Borrowers have 10 years to repay this loan.
  • Four Percent Cash Assistance: The cash assistance provides borrowers with 4 percent of the loan amount to be applied toward down payment and closing costs.

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