"How much do I need to save before I can buy a house?" It is the most common question I hear. And the answer might surprise you: for many buyers in Florida, the answer can be $0 down. You do not always need a big down payment saved up. Here are the four main paths to buy with little or no money down.
Option 1: VA Loan (0% Down, No PMI)
If you are a veteran, active-duty service member, or surviving spouse, a VA loan is your best option. It requires zero down payment, has no PMI, and offers flexible credit requirements.
VA Loan Example
- Home price: $350,000
- Down payment: $0
- Credit score: 620+ (recommended)
- Monthly payment (PITI at 6.5%): ~$2,460
- Funding fee: 2.15% ($7,525, can be rolled into loan)
VA loans can be used multiple times. You can also have an active VA loan and still buy another home with VA financing.
Option 2: USDA Loan (0% Down, Low Fees)
USDA loans are available for homes in eligible suburban and rural areas. Many areas of Palm Beach and Broward counties qualify, including parts of Boynton Beach, Lake Worth, and Delray Beach.
USDA Loan Example
- Home price: $300,000
- Down payment: $0
- Credit score: 640+ (recommended)
- Income limit: Up to $110,650 for 1-4 person household
- Monthly payment (PITI at 6.5%): ~$2,100
Check the USDA eligibility map for your area. Learn more about USDA loans.
Option 3: Hometown Heroes + FHA (Less Down)
The Hometown Heroes Program offers up to $35,000 in down payment and closing cost assistance, equal to 5% of your first mortgage loan amount (whichever is less, with a $10,000 minimum). Combined with an FHA loan (3.5% down), it can cover part or all of your down payment depending on your loan size. It is available to full-time workers in qualifying occupations including health care workers, school staff, first responders, child care workers, military, and more.
FHA + Hometown Heroes Example
- Home price: $350,000
- FHA 3.5% down: $12,250 (covered by Hometown Heroes)
- Closing costs (3%): ~$10,500
- Hometown Heroes assistance: ~$16,900 (5% of the $337,750 loan, 0% interest, deferred, no monthly payments)
- Remaining cash needed for closing costs: ~$5,850
You only repay the assistance when you sell, refinance, or move out. No interest accrues. Assistance amounts depend on your loan size, so your numbers will vary. See if you qualify.
Option 4: FL Assist + FHA (Partial Down Payment Help)
FL Assist provides $10,000 in down payment and closing cost assistance for first-time buyers. On a $285,000 home, that covers the entire 3.5% FHA down payment ($9,975), though you would still plan for closing costs and prepaids unless they are covered another way.
What About Closing Costs?
Even with zero down payment, you still have closing costs typically ranging from 2% to 5% of the purchase price. Here is how to handle them with a no-money-down strategy:
- Seller concessions: Ask the seller to pay some of your closing costs. FHA allows up to 6% seller concessions. VA allows up to 4%.
- Hometown Heroes: The assistance (up to $35,000, or 5% of your loan amount, whichever is less) can go toward down payment and closing costs, but it may not cover both in full
- Lender credits: Accept a slightly higher interest rate in exchange for the lender covering closing costs
The Bottom Line on Zero Down
Buying a home with no money down in Florida is not a gimmick. These programs exist specifically to help buyers who can afford a monthly mortgage payment but do not have a pile of cash saved up. Thousands of buyers close this way every year.
The first step is finding out which programs you qualify for. Use our affordability calculator to estimate your price range, then call or text Ryan or Austin to run your actual numbers.
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.