The biggest barrier to buying a first home isn't the monthly payment. It's the upfront cash. But Florida has some of the most generous down payment assistance programs in the country, and most buyers qualify for at least one. Let's go through them one by one.
Florida Hometown Heroes Program — Up to $35,000
This is the most popular program in Florida right now. The Hometown Heroes program provides up to $35,000 in down payment and closing cost assistance (5 percent of the first mortgage loan amount, minimum $10,000) for full-time workers in qualifying professions. Because the amount is tied to your loan size, it may not cover your entire down payment and closing costs.
Who qualifies? Health care workers, school staff, police officers, firefighters, EMTs, public safety and court employees, child care workers, military personnel, and other public service professionals. You need a credit score of at least 640 (660 for manual underwriting) and your household income must be at or below 150 percent of the area median income.
The assistance comes as a 0 percent deferred second mortgage with no monthly payments. You only repay it when you sell, refinance, or pay off the first mortgage. In Palm Beach County, that means a household earning up to roughly $115,000 to $130,000 could qualify depending on family size.
Funding is limited and first-come, first-served. The 2026-2027 cycle opened with $50 million, and roughly half remained as of late 2026. If you qualify, apply as soon as possible and confirm current availability with your lender.
FL Assist — Up to $10,000
FL Assist provides up to $10,000 as a 0 percent interest deferred second mortgage. Like Hometown Heroes, there are no monthly payments. You repay it when you sell or refinance the home.
Note: FL Assist cannot be combined with Hometown Heroes. Borrowers who use Hometown Heroes are not eligible for other Florida Housing assistance programs, including FL Assist. You can, however, use FL Assist with an FHA, conventional, VA, or USDA loan and pair it with seller-paid closing costs.
FL Assist requires a minimum credit score of 640 and income limits that vary by county. It's available for FHA, conventional, VA, and USDA loans, and it is offered while funds last through participating lenders, so availability varies.
FHA Loans — 3.5% Down Payment
FHA loans are backed by the Federal Housing Administration and are the most popular loan type for first-time buyers. You need a minimum credit score of 580 for the 3.5 percent down payment option. With a score between 500 and 579, you can still qualify with 10 percent down.
In 2026, the FHA loan limit for most Florida counties is $541,287, which is more than enough for affordable homes in South Florida. FHA loans also allow the down payment to come from gift funds or assistance programs, making them the most flexible option for first-time buyers.
The trade-off: FHA loans require mortgage insurance premiums (MIP) for the life of the loan if you put less than 10 percent down. But for most first-time buyers, the low down payment and flexible credit requirements make it worth it. Not sure whether FHA or conventional fits you better? Here's a direct FHA vs conventional loan comparison.
VA Loans — 0% Down for Veterans
If you're a veteran, active-duty service member, or qualifying spouse, a VA loan is one of the best benefits available. Zero down payment, no PMI, and competitive interest rates.
VA loans typically require a credit score of 620 or higher, and there's no maximum loan amount for well-qualified borrowers. The VA funding fee can be rolled into the loan amount, so you can buy with no down payment, though closing costs and prepaids still apply unless they are covered by the seller or financed. In 2026, the conforming loan limit baseline is $832,750, with higher limits in high-cost areas.
USDA Loans — 0% Down in Eligible Areas
USDA loans offer zero down payment financing for homes in eligible rural and suburban areas. Many parts of Palm Beach County and Broward County qualify, especially in the western communities.
You need a minimum credit score of 640 and your household income must be at or below 115 percent of the area median income (around $119,850 for a 1-to-4-person household). USDA loans also have lower mortgage insurance costs than FHA loans.
Florida HLP (Housing Loan Program) — Up to $15,000
The Florida HLP provides up to $15,000 in down payment and closing cost assistance in select counties. It's a 0 percent deferred loan with no monthly payments. Eligibility varies by county and funding availability.
Chenoa Fund — 3.5% Forgivable Second Mortgage
The Chenoa Fund provides a 3.5 percent forgivable second mortgage that can cover your entire down payment on an FHA loan. If you live in the home for three years, the loan is forgiven. It's a great option for buyers who don't qualify for state programs but still need help with the down payment.
How to Apply for These Programs
Applying for down payment assistance is not as complicated as it sounds. Most programs require you to work with an approved lender who will help you complete the application. The key is to find a lender who has experience with these programs.
I work closely with Austin Edwards at Ocean Blue Lending (561-426-8238), who specializes in first-time buyer programs and down payment assistance. He can run a quick pre-approval and tell you exactly which programs you qualify for. It's free and takes about 15 minutes.
You can also visit our financing page for a more detailed breakdown of each program. For a first-time buyer's step-by-step guide, check out the First-Time Buyer Guide.
The Bottom Line
Between Hometown Heroes ($35K max), FL Assist ($10K), and low-down-payment loans like FHA and VA, you can reduce how much of your own cash you need to bring to closing. The key is getting pre-approved with a lender who knows these programs and confirming exactly how much assistance you qualify for. You might be closer to homeownership than you think.
Program details, funding availability, and terms are current as of October 2026 and change frequently. Confirm current program details, availability, and terms with your lender at the time you apply.