The idea that you need 20% down to buy a home is the most persistent myth in real estate. In Florida, especially with the programs available right now, many buyers end up putting zero down. Let me show you the four main ways to do it.
1. VA Loans: Zero Down for Veterans and Military
If you're a veteran, active-duty service member, or surviving spouse, a VA loan is hands-down your best option. Here's what you get:
- Zero down payment — no cash required upfront
- No private mortgage insurance (PMI) — saves you hundreds per month
- Competitive interest rates — often lower than conventional loans
- Flexible credit requirements — no official minimum credit score
- No prepayment penalty
The VA loan is a benefit you've earned through service. There's a one-time VA funding fee (typically 2.15% to 3.3% of the loan amount), but it can be rolled into the loan so you pay nothing out of pocket. Learn more about VA loans on our financing page.
2. USDA Loans: Zero Down in Qualified Areas
USDA loans are backed by the U.S. Department of Agriculture and offer zero down payment for homes in eligible rural and suburban areas. Parts of western Palm Beach County and Broward County qualify.
- Zero down payment
- Below-market interest rates
- Reduced mortgage insurance costs compared to FHA
- Income limits apply — but they're generous for the area
USDA loans are for primary residences only, and the property must be in an eligible area. About 97% of the U.S. land mass is USDA-eligible, including many suburban communities. Learn more about USDA loans.
3. Hometown Heroes: Up to $35,000 in Down Payment Help
Florida's Hometown Heroes program is a game-changer for affordable buyers. It provides up to $35,000 in down payment and closing cost assistance as a 0% interest, deferred second mortgage. You don't pay anything toward it until you sell, refinance, or pay off your first mortgage.
To qualify, you need to work full-time for a Florida employer in one of 50+ eligible occupations: teachers, nurses, firefighters, police officers, EMTs, childcare workers, military, and many more. You also need a minimum credit score of 640 and must complete an 8-hour homebuyer education course.
The program relaunched with $50 million in funding. Last cycle, it was fully committed within six months. Check your eligibility for Hometown Heroes.
4. FL Assist: $10,000 for First-Time Buyers
FL Assist provides $10,000 in down payment and closing cost assistance for first-time buyers. Like Hometown Heroes, it's a 0% interest, deferred second mortgage. You can even combine it with an FHA or conventional loan.
If you're a first-time buyer (meaning you haven't owned a primary residence in the past 3 years) and Hometown Heroes isn't an option, FL Assist is an excellent fallback. Learn more about FL Assist.
What About FHA and Conventional Loans?
FHA loans require 3.5% down (not zero), and conventional loans require 3% to 5% down. However, you can pair either one with Hometown Heroes or FL Assist to cover that down payment. So even if you don't qualify for VA or USDA, you can still get to effectively zero out-of-pocket by using down payment assistance.
Real Example: How Two Buyers Did It With Zero Down
A teacher I worked with bought a $310,000 townhome in Boynton Beach using the Hometown Heroes program. The $35,000 assistance covered her 3.5% FHA down payment ($10,850) plus most of her closing costs. She walked in with less than $2,000 out of pocket.
A veteran client bought a $280,000 home in Pompano Beach with a VA loan. Zero down, no PMI, and the seller paid most of the closing costs. His monthly payment was actually less than what he'd been paying in rent.
Want to Know if You Qualify?
The best way to find out is to talk to someone who knows these programs inside and out. Visit our full financing page for details on every program, or call or text Ryan or Austin for a free consultation. We'll look at your situation and find the path that gets you in with the least money down.