From down payment assistance to FHA loans and closing cost strategies, here's what every first-time buyer in Florida needs to know before making an offer.
What Every First-Time Buyer in Florida Needs to Know
Buying your first home in Florida is one of the most exciting — and complex — financial decisions you'll make. The good news: Florida has more resources for first-time buyers than most states, and working with the right loan officer can save you tens of thousands of dollars.
Programs Available to First-Time Buyers
Florida Housing Finance Corporation administers several state-level programs including the FL Assist deferred second mortgage (up to $10,000 at 0% interest) and the FL HLP second mortgage program. Combined with low-down-payment FHA and conventional programs, these can dramatically reduce your upfront cost.
FHA vs. Conventional: Which Is Right for You?
FHA loans require just 3.5% down with a 580+ credit score and are more forgiving on credit history. Conventional loans (as low as 3% down through HomeReady or Home Possible) offer better terms for borrowers with 700+ credit scores and the advantage of cancelable PMI. Understanding the difference is step one.
Ready to figure out which program fits your situation? Reach out to Nicholas Menard — we'll walk through your options and have you pre-approved same day.Nicholas Menard
NMLS #202425 · Senior Loan Officer
Nicholas Menard is a senior loan officer at Edge Home Finance specializing in DSCR investor loans, first-time buyer programs, and refinancing strategies for Florida homeowners and investors.
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