First-Time Home Buyer in Florida: Programs, Costs and Steps for 2026

Short answer

In Florida you count as a first-time home buyer if you have not owned a home in the last three years, and you may qualify to buy with as little as 3% to 3.5% down. As of October 2026, buyers in South Florida can layer a low-down-payment first mortgage (FHA or conventional) with state help from Florida Housing (up to $10,000 with FL Assist, up to $35,000 with Hometown Heroes) and county help (up to $35,000 in Miami-Dade). Funds are first-come, first-served, so the order of your steps matters.

Who counts as a first-time buyer in Florida

The definition is wider than most people think. You do not have to be buying your very first home.

• HUD (federal housing programs): an individual and spouse who have not owned a home during the three-year period before the purchase. HUD also counts a single parent (unmarried or legally separated, with custody of a minor child, or pregnant) and a displaced homemaker as first-time buyers even if they owned a home with a former spouse. Owning a mobile home not on a permanent foundation does not disqualify you.
• Florida Housing Finance Corporation: uses the IRS test. You cannot have owned and occupied a primary residence in the three years before the purchase.
• Fannie Mae (conventional 97% loans): at least one buyer must not have owned any residential property in the past three years.
• Miami-Dade and Palm Beach County programs: follow the HUD three-year rule, with the same single-parent and displaced-homemaker exceptions.

So if you sold a home in 2022 and have rented since, you may be a first-time buyer again in 2026. Each program checks its own rule, so we confirm it against your history before you rely on any assistance.

Your first mortgage: FHA, conventional and Florida Housing loans

Assistance always sits behind a first mortgage, so pick that loan first. As of October 2026:

• FHA: 3.5% down. HUD allows maximum financing with a credit score of 580 or higher; from 500 to 579 the loan is capped at 90% of value (10% down); below 500 it is not eligible. Primary homes only. The 2026 limit in Miami-Dade, Broward and Palm Beach is $667,000 for one unit. Details in our Miami-Dade FHA limits guide.
• Conventional 97%: 3% down when at least one buyer is a first-time buyer. Fixed rate only, one-unit primary home (condos included if the building qualifies), up to the $832,750 conforming limit. If every buyer is a first-timer, one must take a homeownership course. Mortgage insurance can come off later.
• Florida Housing first mortgages: 30-year fixed loans (FHA, VA, USDA or conventional) made through participating lenders. Florida Housing requires a 640 minimum credit score, a homebuyer education course, and income and price under the county limits. These loans are the door to Florida Housing's down payment programs.
• VA: eligible veterans and service members may buy with no down payment.

Not sure which fits? Our FHA vs conventional comparison runs the numbers side by side.

State help from Florida Housing, including Hometown Heroes

Florida Housing's down payment programs are second mortgages paired with its own first mortgage. You can use one per loan. As of October 2026:

• FL Assist: up to $10,000 at 0%, deferred, no monthly payment. Not forgivable; repaid when you sell, refinance, pay off the first mortgage or move out.
• HFA Preferred / HFA Advantage PLUS: 3%, 4% or 5% of the loan, forgiven 20% a year over five years. Only with Florida Housing's conventional first mortgages.
• FL HLP: $12,500 at 3%, paid monthly over 30 years. The payment counts in your debt-to-income ratio.
• Hometown Heroes: 5% of the first mortgage, minimum $10,000 and maximum $35,000, as a 0% deferred second that is repaid when you sell, refinance or move out. Limited to full-time workers of Florida-based employers in eligible jobs (health care, school staff, first responders, public safety and courts, child care) plus military and veterans.

Hometown Heroes status: Florida Housing reported in February 2026 that all 2025-2026 funding had been committed, after helping over 3,000 families. The program reopened on July 13, 2026 with $50 million in new state funding, first-come, first-served. Funds can run out without much warning, so we check availability the day you go under contract. Full rules and county limits: Florida Hometown Heroes 2026.

County help in Miami-Dade, Broward and Palm Beach

County money is bigger but tighter: income caps, price caps, counseling and limited funding. As of October 2026:

• Miami-Dade County: up to $35,000 as a 0% loan deferred up to 30 years, due on sale, transfer or refinance. Income limits are $95,620 for one person and $136,500 for four. You put in 1% of the price from your own funds, finish HUD-approved counseling, and total financing cannot pass 105% of the price. If you sell early, the county shares the profit: 100% in years one to three, 50% in years four to six. Contact: 786-469-2209.
• Broward County HPA: the June 2026 county flyer advertises up to $120,000 per property, with $50,000 or $75,000 where funds exist, a $679,324 maximum price, and income caps of $71,000 for one person and $101,400 for four at 80% of area median income ($106,440 and $152,160 at 120%). But 24 of the 26 listed communities showed no funds. Call 954-357-4943 before you count on it.
• Palm Beach County SHIP: up to $100,000 as a 0% deferred loan forgiven after 30 years, with a $568,557 maximum price. The last round opened May 5, 2025 and reached its application limit. Watch for the next round at 561-233-3600.

Full program-by-program detail, including the City of Miami and Fort Lauderdale, is on our Florida down payment assistance page.

A grant you never repay: QMS also offers a forgivable down payment grant of 2% or 3.5% of the price with an FHA loan, 620 minimum score, no second lien, and first-time status not required. It cannot be stacked with another program, so we compare it against the state and county options for you.

What your first home will cost up front

Plan for three buckets of cash: down payment, closing costs and prepaids. Example on a $400,000 home:

• Down payment: $14,000 with FHA (3.5%) or $12,000 with a conventional 97% loan (3%). Assistance or a gift from family can cover part or all of it, within each program's rules.
• Florida taxes on the loan: documentary stamp tax on the note is $0.35 per $100 and the intangible tax is 2 mills. On a $386,000 FHA base loan, that is about $1,351 plus $772, or $2,123.
• Other closing costs: title insurance (in Miami-Dade and Broward the buyer customarily pays the owner's policy), lender fees, appraisal, survey and recording. Our Florida closing costs guide breaks down each line with a worked example.
• Prepaids: the first year of homeowners insurance, two to three months of taxes and insurance for escrow, and prepaid interest. In South Florida, insurance is often the biggest surprise. Condos add HOA items.

Ask for a written estimate on the actual address before you make an offer. We run real taxes, an insurance quote and title rates, not a rule of thumb.

Step by step: the order that keeps your assistance

1. Check credit and budget. Pull your score and list your monthly debts. 580 opens FHA; 620 opens the QMS grant; 640 opens Florida Housing programs.

2. Take homebuyer education early. Florida Housing, Miami-Dade County and Fannie Mae (when every buyer is a first-timer) require it. Online courses take a few hours.

3. Get pre-approved with a participating lender. Florida Housing and county money only flow through approved lenders. We confirm first-time status, income limits and which programs you can stack.

4. Pick the program before you shop. Price caps and income caps decide which homes work. The program also sets how much cash you need.

5. Check the condo first. FHA needs an approved building or a single-unit approval, and Florida's milestone inspection and reserve study rules can sink a building's eligibility. Send us the address.

6. Sign the contract and reserve funds. Assistance is reserved in order once you have an executed contract. Funding runs out.

7. Underwriting, appraisal and insurance. Get insurance quotes in the first week; the 4-point and wind mitigation reports can lower premiums on older homes.

8. Close. You sign the first mortgage and any assistance second. Keep the second's paperwork; deferred loans come due when you sell or refinance.

QMS Lending is an independent mortgage broker in Miami, FL (NMLS #1781090), founded in 2018, with access to 100+ lenders, in English or Spanish. All loans are subject to credit approval and program guidelines. Rates vary daily; call 305-425-1990 for today's pricing. Equal Housing Opportunity.