First-Time Home Buyer Programs in Florida: What You Need to Know

Yes, Buying Your First Home in South Florida Is Possible

If you've been watching South Florida home prices and quietly talking yourself out of buying, you're not alone. Median prices across Broward and Palm Beach counties have climbed steadily over the past several years, and the gap between what buyers have saved and what sellers are asking can feel impossible to bridge. A lot of people assume they simply can't afford it — not yet, maybe not ever.

That assumption is worth questioning. State and local programs exist specifically to close that affordability gap, and many qualified buyers never use them because they don't know they exist or assume they won't qualify. Over 22 years of helping buyers across South Florida, Beth and I have walked hundreds of first-time buyers through these programs — from the paperwork to the closing table. The money is real, the programs are active, and they're worth understanding before you write yourself off as "not ready."

In this post, I'll walk you through the main state programs through the Florida Housing Finance Corporation, county-specific assistance in Broward and Palm Beach, basic eligibility requirements, how these programs work alongside a conventional or FHA loan, and what your next steps should be. If you want context on what the South Florida market looks like right now, that's a good place to start before diving into programs.

What Counts as a "First-Time Home Buyer" in Florida?

Here's something that surprises a lot of people: the federal definition of "first-time home buyer" doesn't mean you've never owned a home. It means you haven't owned a primary residence in the past three years. If you owned a home previously, went through a divorce, relocated, or simply rented for a few years since selling, you may qualify as a first-time buyer all over again.

That definition opens the door for a meaningful number of buyers who assume they're excluded. A few caveats worth noting upfront: virtually all of these programs require that the home you purchase be your primary residence — not a rental, not a second home, not a property held for any other purpose. And most programs carry income limits that vary by county and household size. Those limits tend to be higher in Broward and Palm Beach counties than in more rural parts of the state, which works in the favor of South Florida buyers.

Florida Housing Finance Corporation: The Starting Point

The Florida Housing Finance Corporation — commonly called Florida Housing — is the state's central resource for first-time buyer assistance. It doesn't lend money directly to consumers, but it creates and administers programs that approved lenders can offer. Understanding what's available through Florida Housing gives you a framework for every conversation you'll have with a lender.

Florida First Mortgage Program: This is a 30-year fixed-rate loan offered at below-market interest rates. It's designed for buyers who meet income and purchase price limits and is compatible with several down payment assistance programs.

HFA Preferred and HFA Advantage Loans: These are conventional loan options — meaning they're not FHA or government-backed in the traditional sense — that come with reduced private mortgage insurance costs. Over the life of a loan, lower mortgage insurance premiums can add up to real savings. The HFA Preferred loan is a strong option worth comparing carefully against an FHA loan.

FL Assist (Florida Assist): This is one of the most useful tools in the toolkit. FL Assist provides up to $10,000 in down payment assistance structured as a 0% deferred second mortgage. There are no monthly payments on this second mortgage — the balance is due only when you sell the home, refinance, or pay off the first mortgage. For buyers who are tight on cash to close, this program can be a genuine difference-maker.

Florida Homeownership Loan Program (FL HLP): Also up to $10,000, but structured differently. FL HLP carries a 3% interest rate and is repaid over 15 years with a monthly payment. It's worth comparing both options with your lender — the FL HLP provides slightly more flexibility in some scenarios, but the monthly payment obligation is something buyers need to account for in their budget.

An important note: none of these programs are accessed directly through Florida Housing's website. They're offered through a network of approved participating lenders. This is one of the main reasons working with a knowledgeable local agent matters — we can refer buyers to lenders who actually specialize in these programs, rather than lenders who've never processed one.

Salute Our Soldiers: Help for Veterans and Military Families

Florida Housing also administers the Salute Our Soldiers Military Loan Program, which offers discounted mortgage rates for active duty service members, veterans, and surviving spouses. This program can be combined with Florida Housing's down payment assistance options, which makes it a layered benefit worth exploring fully.

Separately, VA loans — which are a federal benefit, not a Florida-specific one — remain one of the strongest mortgage options available to eligible veterans and active duty buyers. VA loans require zero down payment, carry no private mortgage insurance, and often come with competitive rates. If you're eligible for a VA loan, it deserves a serious look alongside any state programs.

County and Local Down Payment Assistance Programs

State programs are the foundation, but Broward and Palm Beach counties also run their own assistance programs that can be layered on top of what Florida Housing offers. Stacking programs — where eligible — can significantly reduce what a buyer needs to bring to closing.

Broward County Housing Finance Authority: Offers down payment and closing cost assistance for income-qualifying buyers purchasing within Broward County. Eligibility thresholds are based on area median income, and the program has helped buyers in communities throughout the county close with less cash out of pocket.

Palm Beach County HOME Investment Partnerships Program: Palm Beach County uses federal HOME funds to offer forgivable loans for down payment assistance to income-qualifying buyers. Forgivable means that if you stay in the home for the required period, the balance doesn't have to be repaid — it's forgiven.

Some municipalities have their own community development programs as well. If you're considering homes for sale in Coral Springs or exploring Coconut Creek neighborhoods, it's worth asking whether city-level assistance exists on top of county and state programs. These local programs are sometimes the least publicized and the most overlooked.

Eligibility Requirements: What Most Programs Require

Requirements vary by program, but most Florida Housing and county-level programs share a common framework. Here's what buyers should generally expect:

Minimum credit score: Typically 640–660 for Florida Housing programs. Some participating lenders require higher scores, so it's worth asking early.
Income limits: Set by county and household size. Broward and Palm Beach limits reflect higher area median incomes than rural counties, which means the cutoffs are more accessible for local buyers.
Purchase price limits: Also county-specific. Florida Housing has updated these limits to reflect current South Florida market conditions — they're higher than they were a few years ago.
Homebuyer education course: Required for nearly all programs. This is a HUD-approved online course, typically 6–8 hours, that covers budgeting, the purchase process, and long-term homeownership. It's genuinely useful — take it early, not as a last-minute checkbox.
Primary residence requirement: The home must be owner-occupied.

Quick Eligibility Checklist

Haven't owned a primary home in 3+ years (or never owned)
Meet income limits for your county and household size
Purchase price within program limits for your county
Minimum credit score of 640+
Complete a HUD-approved homebuyer education course
Plan to live in the home as your primary residence

How These Programs Work Alongside a Conventional or FHA Loan

Down payment assistance programs don't replace your first mortgage — they sit alongside it as a second mortgage or, in some cases, a grant. The first mortgage can be an FHA loan, a conventional loan, a VA loan, or in some cases a USDA loan. The assistance program covers part or all of the down payment, reducing the cash you need at closing.

FHA loans are popular with first-time buyers because they require only 3.5% down and have more flexible credit guidelines than conventional loans. Florida Housing programs can be used to cover that down payment requirement entirely. USDA loans, which are available in eligible rural and suburban areas, may apply to some of South Florida's outer communities — ask a lender to check eligibility by address.

Conventional loans through HFA Preferred can be a better long-term cost than FHA loans for buyers with solid credit, primarily because of reduced mortgage insurance. The savings over a 30-year term are worth modeling with your lender before deciding which path to take. The key in all cases: not every lender participates in Florida Housing programs. Working with one who does — and who has processed these loans before — makes the process considerably smoother.

South Florida Neighborhoods Where First-Time Buyers Are Finding Success

Communities like Coral Springs, Coconut Creek, and Parkland offer a range of price points within established, infrastructure-rich settings. These cities have parks, schools, libraries, and community services already in place — the kind of built environment that first-time buyers often prioritize. Some established neighborhoods within these cities carry entry-level price points that pair well with assistance programs, bringing ownership within reach for buyers who qualify.

For example, the Maplewood neighborhood in Coral Springs is one of several pockets worth exploring for buyers working within program purchase price limits. Neighborhoods like this don't always come up in a broad search — they require knowing the inventory at a granular level. Beth and I spend a lot of time in these communities specifically because the nuances matter: age of the infrastructure, HOA fee structures, flood zone designations. Don't rule out areas you haven't fully explored yet.

Common Mistakes First-Time Buyers Make

After 22 years, the same patterns come up. Here are the ones worth avoiding:

Waiting for the "perfect" market moment. Rates and prices shift constantly. When programs and personal finances align, that alignment matters more than trying to time the market.
Searching before getting pre-approved. Sellers take pre-approved buyers seriously. Without it, you're shopping without leverage.
Underestimating closing costs. Down payment assistance helps with the down payment, but closing costs typically run 2–5% of the purchase price. Some programs help here too — ask specifically.
Choosing a lender without confirming they participate in Florida Housing programs. Not all lenders do. This is a real variable that affects your options.
Waiting until the last minute to complete the homebuyer education course. Take it early. It's useful, and completing it late can delay closing.
Working with an agent who knows listings but not assistance programs. The two have to work together. A neighborhood that's a great fit needs to also work within program purchase price limits.

Your Next Step: Get Informed, Get Pre-Approved, Get Moving

The programs described in this post are active and available to buyers who qualify right now. Here's a straightforward sequence to follow:

Research Florida Housing programs at floridahousing.org to understand what's available statewide.
Check county-specific programs through the Broward County Housing Finance Authority or Palm Beach County's HOME program, depending on where you're looking.
Complete a HUD-approved homebuyer education course — do this early in the process.
Connect with a Florida Housing-approved lender for pre-approval before you start seriously searching.
Work with a South Florida agent who understands both local inventory and the mechanics of these programs.

Beth and I are happy to point you toward trusted local lenders who specialize in these programs and walk you through neighborhoods that fit your goals and your budget — reach out anytime, no pressure. To stay current on market conditions as you plan your search, see what's happening in the Florida market right now.

James "Griff" Griffis is a licensed Florida Realtor (FL Lic #SL3215849) at VantaSure Realty with 22 years of experience serving buyers and sellers across Broward and Palm Beach counties. This post is for informational purposes. Program details, income limits, and purchase price limits are subject to change — confirm current terms with a Florida Housing-approved lender.