If you have been putting off buying a home because you think you need a big down payment, you are not alone. The 20% down myth is the single biggest reason people who could afford to buy end up renting for years longer than they need to.
In South Florida specifically, where home prices in Delray Beach, Boca Raton, and Boynton Beach can feel intimidating, the good news is that several programs let you buy with zero down. Let me walk through each one so you can see which path fits your situation.
VA Loans: Zero Down, No PMI, for Those Who Served
If you are a veteran, active-duty service member, or qualifying surviving spouse, a VA loan is the strongest zero-down option available. Here is what makes it special:
- Zero down payment with no monthly mortgage insurance
- Competitive interest rates that are often lower than conventional loans
- No minimum credit score required by the VA (though most lenders look for 620+)
- Seller can pay closing costs and the VA funding fee can be rolled into the loan
In Palm Beach County, VA loans are popular in areas like Boynton Beach, Lake Worth Beach, and West Palm Beach where many veterans choose to settle. The VA funding fee (typically 2.15% to 3.3%) can be financed, meaning you truly pay nothing upfront.
See our full financing page for VA loan details.
USDA Loans: Zero Down in Eligible Suburban Areas
USDA loans are backed by the U.S. Department of Agriculture and offer 0% down for homes in eligible rural and suburban areas. You might be surprised how much of South Florida qualifies.
- Zero down payment required
- Below-market interest rates because the government backs the loan
- Income limits apply but are generous for the area (typically around $110,000 for a 1-4 person household)
- Must be a primary residence in a USDA-eligible area
Parts of Palm Beach County west of I-95 and areas in Broward County qualify for USDA financing. Communities like parts of Boynton Beach, Lake Worth, and western Pompano Beach may be eligible. You can check the USDA eligibility map or ask a lender who knows the area.
Learn more about USDA loans on our financing page.
Hometown Heroes: Up to $35,000 Toward Your Down Payment
Florida's Hometown Heroes program is one of the largest down payment assistance programs in the country. It provides up to $35,000 as a 0% interest, deferred second mortgage, with the exact amount equal to 5% of your first mortgage loan amount (up to the cap, with a $10,000 minimum). You do not make payments on it until you sell, refinance, or pay off your first mortgage. Remember, it is a deferred loan, not free money, and funding is limited.
To qualify, you need to work full-time for a Florida employer in an eligible occupation. This includes health care workers, school staff, firefighters, police officers, EMTs, public safety and court employees, child care workers, military, and more. You also need a minimum credit score of 640 (660 for manual underwriting) and must complete an 8-hour homebuyer education course.
The program has been so popular that previous rounds of funding were fully committed within months. The 2026-2027 cycle opened with $50 million, and roughly half remained as of late 2026, so it is worth checking your eligibility right away and confirming current availability with your lender.
Check Hometown Heroes eligibility on our financing page.
FL Assist: $10,000 for First-Time Buyers
FL Assist provides $10,000 in down payment and closing cost assistance for first-time homebuyers. Like Hometown Heroes, it is a 0% interest, deferred second mortgage. You can use it with an FHA, conventional, VA, or USDA loan, but it cannot be combined with Hometown Heroes.
If you are a first-time buyer (meaning you have not owned a primary residence in the past 3 years) and you do not qualify for Hometown Heroes, FL Assist is an excellent backup. Combined with a low-down-payment FHA loan, it can reduce how much cash you need out of pocket, though closing costs and prepaids may still apply.
See details on FL Assist and other programs.
Combining Help: Reducing What You Bring to Closing
Here is the strategy that works for many South Florida buyers (assistance amounts are not guaranteed and depend on your loan size and funding availability):
- Use an FHA loan with 3.5% down (the minimum) on a $300,000 home = $10,500 down
- Apply for Hometown Heroes (5% of your loan amount, up to $35,000) to cover part or all of that $10,500 plus some closing costs
- Negotiate seller concessions of up to 6% of the purchase price to help cover remaining closing costs
- Plan for any remaining cash needed at closing rather than assuming it will be zero
I have seen this exact strategy work for buyers in Boynton Beach, Deerfield Beach, and Lake Worth. The key is working with a lender who knows how to structure these programs together.
Real Example: Low Down in Pompano Beach
A recent client of mine was a first-time buyer making $58,000 a year as a medical assistant. She qualified for Hometown Heroes because her occupation was eligible. She used an FHA loan with 3.5% down on a $265,000 condo in Pompano Beach. Her assistance (5% of her loan amount, about $12,800) covered her down payment ($9,275) plus part of her closing costs, and she still brought money to closing. Her exact amount depended on her loan size, and yours will too.
Her monthly payment, including HOA fees, taxes, and insurance, was about $2,100 per month. Less than what she had been paying in rent for a smaller apartment. If you want to see what a similar path could look like for your income, try our affordability calculator.
What About Conventional Loans?
Conventional loans typically require 3% to 5% down. But you can still use down payment assistance to cover that amount. If you have strong credit (740+) and want to avoid FHA's mortgage insurance, a conventional loan with a 3% down payment covered by assistance is a solid option. See how FHA and conventional compare in our detailed 2026 breakdown.
The bottom line: there are multiple paths to low- and no-down-payment homeownership in South Florida. The right one depends on your occupation, military service, and where you want to buy, and your lender will confirm exactly how much assistance you qualify for.
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.
Ready to Find Out What You Qualify For?
The best next step is to talk to someone who knows these programs inside and out. I can connect you with Austin Edwards at Ocean Blue Lending, who specializes in Florida down payment assistance programs. Or call me directly and we will figure out your path together.
Visit our full financing page for a complete breakdown of every program available to South Florida buyers.