What programs are available to first-time homebuyers in Florida?

There are many different Florida Housing programs that first-time homebuyers can take advantage of when purchasing their first property. Of course, there are certain qualifications a new homebuyer must meet in order to take advantage of one of these programs, some of which include1:

  • They must either be first-time homebuyers or qualified veterans or active military members.
  • They must meet the income and credit requirements the program has set. In addition, they must also meet the purchase price requirements, according to Bankrate.
  • They must be willing to complete a homebuyer education class.


First-Time Homebuyer Programs


There are a few different programs first-time homebuyers might want to consider looking into that can help them get into a home quicker as well as afford the initial costs that are associated with buying a new home. Some of the programs a new homebuyer might be eligible to take advantage of include:


  • Florida Assist Second Mortgage Program

According to Bankrate, this program allows borrows who meet the qualifications to receive “up to $7,500 at zero percent interest on a deferred second mortgage to use toward a down payment.” A homebuyer won’t have to make a payment on the deferred mortgage “until the home is sold, or ownership is transferred.” If they don’t sell the home or transfer ownership, then they wouldn’t be required to pay back the money until their loan is paid off or they refinance their home.


  • HFA Preferred Grants

Under this particular type of program, Bankrate says borrowers who qualify for it may receive three, four, or five percent of their home’s purchase price to go toward their down payment as well as closing costs. These can sometimes be costly for a new homebuyer so it is always a good idea for them to take advantage of any financial support that can help them get into their dream home quicker. Bankrate says this “second mortgage is forgiven at 20 percent after five years.”


  • Florida Homeownership Loan Program (FL HLPF)

With this program, homebuyers are given “up to $10,000 in a second amortizing mortgage at three percent.” The homebuyer must pay the mortgage over a 15-year time span, and if they move, the balance must then be paid in full, according to Bankrate.

In addition to these programs, there are others that are offered to help individuals buy the home they’ve always wanted. The U.S. Department of Housing and Urban Development (HUD) also provides a list of programs new homebuyers may be eligible to apply for and can be accessed by clicking here.


Does a first-time homebuyer need to hire an Orlando, FL real estate lawyer?


Whether an individual is buying a home for the first time or this will be their second or third time owning a property, it can definitely benefit them to retain an Orlando, FL real estate attorney. Real estate lawyers help homebuyers identify the risks associated with purchasing a home and ensure they understand all agreements before making any decisions that cannot be undone.

If a first-time homebuyer would like to learn more about how a real estate lawyer in Orlando can help them and what benefits they bring to the home buying process, they can contact Legal Counsel P.A. at 407-395-2653 for an initial consultation.


Legal Counsel P.A. is located at:


189 S. Orange Avenue, Ste. 1800

Orlando, FL 32801

Phone: 407-395-2653

Website: www.legalcounselpa.com

Email: [email protected]



  1. https://www.bankrate.com/mortgages/florida-first-time-homebuyer-assistance-programs/
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