Looking to buy your first home in Florida? We’ve got you covered with our Homebuyer Programs! Our program offers 30-year fixed rate first mortgage loans to eligible first time homebuyers through participating lenders and lending institutions throughout the State of Florida.
We understand that buying a home can be a big financial commitment, which is why we also offer second mortgage programs to assist borrowers with down payment assistance and closing costs. Just keep in mind that down payment assistance is only available when used in conjunction with Florida Housing’s first mortgage loan.
At Florida Housing, we offer a variety of loan options including FHA, VA, USDA, and Conventional Loans (Fannie Mae and Freddie Mac). You can purchase a variety of properties including Single Family Homes, Townhomes, 2-4 Unit Homes (you must reside in one unit), Condos (approved projects), and Modular/Mobile Homes.
We know that closing costs can be a concern for many homebuyers, which is why we’re happy to report that typical maximum ‘Seller Paid Closing Costs’ are not impacted by using our program. Plus, we never run out of funds, so your transaction will not be subject to a ‘waiting list.’
While there are some requirements, such as a minimum credit score of 640 and completion of an ‘Approved’ Home Buyer Education course, we strive to make the home buying process as easy as possible for you. Your purchase price must also be below the limits for the county you are purchasing in, and your income must be below the limits for the county you are purchasing in. Additionally, you must meet the IRS definition of a first-time homebuyer.