Money Matters
Programs That Help You Buy Sooner
Most buyers don't realize how many programs exist to help them. From down payment assistance to special loan types, Florida has some of the best homebuyer support in the country. Here's everything you need to know.
Hometown Heroes
Up to $35,000 toward your home
Florida's Hometown Heroes program is the single biggest opportunity for affordable homebuyers right now. It provides up to $35,000 in down payment and closing cost assistance as a 0% interest, deferred second mortgage.
The program relaunched on July 13, 2026 with $50 million in funding. Last year, funding was fully committed within six months, serving over 3,000 families. If you're eligible, don't wait.
Who Qualifies
- First-time buyers (no primary residence ownership in past 3 years)
- 50+ eligible occupations: teachers, nurses, firefighters, police, EMTs, childcare workers, military, and more
- Must work full-time (35+ hrs/week) for a Florida employer
- Complete an 8-hour homebuyer education course
- Minimum credit score of 640
- Income must be ≤150% of Area Median Income (varies by county, typically $143K–$195K)
"This program helped us put 5% down on our first home. We had no idea it existed." — Past buyer client
Other Programs That Can Help
Hometown Heroes isn't the only option. Here are the other major programs that help affordable buyers get into a home.
FL Assist
$10,000 Assistance
FL Assist provides $10,000 in down payment and closing cost assistance as a deferred second mortgage. It's available to first-time buyers and can be combined with other programs. Income limits apply.
0% interest, deferred until sale, refinance, or payoff of first mortgage.
FHA Loans
3.5% Down Payment
FHA loans are backed by the Federal Housing Administration and require as little as 3.5% down. They're the most popular loan type for first-time buyers because of more lenient credit requirements.
Minimum credit score: 580 for 3.5% down. 500 for 10% down.
VA Loans
Zero Down Payment
VA loans are available to eligible veterans, active-duty military, and surviving spouses. They offer zero down payment, no private mortgage insurance, and competitive interest rates. One of the best loan products available.
VA funding fee applies but can be rolled into the loan.
USDA Loans
Zero Down Payment
USDA loans offer zero down payment for properties in eligible rural and suburban areas. Parts of western Palm Beach and Broward County qualify. Income limits apply (typically 115% of area median income).
Use the USDA eligibility map to check if an area qualifies.
HFA Preferred
Reduced Mortgage Insurance
The Florida Housing Finance Corporation's HFA Preferred program offers below-market interest rates and reduced mortgage insurance costs for qualifying first-time buyers. It can be combined with down payment assistance.
Available through Florida Housing-approved lenders only.
Conventional 97
3% Down Payment
Fannie Mae's Conventional 97 program allows qualified buyers to purchase with just 3% down. Credit score requirements are higher than FHA, but you avoid the upfront and annual FHA mortgage insurance premiums.
Minimum credit score: 620. Loan limit applies.
Your Lending Partner
Austin Edwards
Ocean Blue Lending · Mortgage Loan Officer
I work closely with Austin Edwards because he shares my values: honest guidance, clear communication, and no surprises. Austin specializes in helping first-time buyers navigate the programs above and find the best financing option for their situation.
Whether it's Hometown Heroes, FHA, VA, or any other program, Austin will walk you through your options, explain the numbers, and help you get pre-approved so you know exactly what you can afford.
For comprehensive real estate education covering buying, selling, owning, and investing, visit RyanParkerHomeGuide.com
Not Sure Where to Start?
Let's figure out which programs you qualify for. It's free, and there's absolutely no obligation.