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Buying Your First Home in Jacksonville, FL: A Comprehensive Guide for First-Time Homebuyers

Buying your first home in Jacksonville Florida

Purchasing your first home is an exciting milestone in your life. If you’ve been dreaming about homeownership but felt it was out of reach, we’re here to tell you that it’s possible. In Jacksonville, FL, there are several programs and resources available specifically designed to assist first-time homebuyers like you.

 In this comprehensive guide, we will explore the various options, eligibility criteria, benefits, and steps involved in buying your first home in Jacksonville. 

So, let’s dive in and discover how you can make your dream of homeownership a reality!

Introduction to First-Time Homebuyer Programs

For first-time homebuyers in Jacksonville, there are several programs available to assist you in making homeownership more affordable. These programs provide financial assistance, down payment assistance, and favorable loan terms. Let’s explore some of the popular programs that can help you achieve your goal of owning a home.

The First Time Home Buyer Program Jacksonville

One notable program is the Single-Family Loan Program offered by  . This program provides a 30-year fixed-rate mortgage specifically for first-time homebuyers. The FHA and HomeReady First Time HomeBuyer Programs allow for low down payments and features to help get homebuyers in Jacksonville into their first home.


 Eligibility Criteria for the First-Time Homebuyer Programs

To qualify for the First-Time Homebuyer Programs in Jacksonville, there are certain eligibility criteria you need to meet. Let’s take a look at the requirements:

·       First-Time Buyer Status: Buyers and their spouses, whether occupant or non-occupant,
must be first-time buyers or have not purchased a residence in the past 3 years and permanent residents of the United States.

·       Principal Residence: Buyers must live in the property they purchase as their principal residence.

·       Minimum FICO Score: All buyers must have a minimum FICO score of 580, although
additional information may be required, so it’s best to consult a loan officer.

Down Payment Assistance Programs

One of the significant challenges for first-time homebuyers is saving for a down payment. Fortunately, the First-Time Homebuyer Programs in Jacksonville allow the seller to contribute up to 6% of the closing costs.

Income Criteria for First-Time Homebuyer Programs

 When applying for the First-Time Homebuyer Programs in

Jacksonville, household income is a crucial consideration. The income of all borrowers, spouses, and anyone 18 years or older is taken into account. This ensures that the programs are accessible to a wide range of individuals and families.

Maximum Sales Price

To ensure affordability, there is a maximum sales price limit for properties eligible under the First-Time Homebuyer Programs in Jacksonville. The limit applies to both new and existing properties, including
one to four units, detached or attached homes, condos, and townhomes. The maximum sales price may not exceed $526,700 for a single family home and $1,012,900 for a 4 unit property.

How to Get Started: Pre-Approval and Participating Loan Officers

If you’re ready to take the next step towards homeownership in Jacksonville, it’s essential to get pre-approved for a mortgage. Pre-approval provides you with a clear understanding of your budget and
strengthens your position as a buyer.  Visit this link

Exploring Loan Options for First-Time Homebuyers

Introduction to Loan Programs

Buying Your First Home In Jacksonville 

As a first-time homebuyer in Jacksonville, you have access to various loan programs to help you finance your home purchase. Let’s take a closer look at some of the most popular loan options available.

30-Year Fixed Rate Mortgage

The 30-year fixed-rate mortgage is a widely favored loan program for its stability and predictability. With this program, you can lock in a low payment and have the peace of mind that your interest rate will not
change throughout the loan term. Whether you choose an FHA, VA, or conventional loan, the 30-year fixed rate mortgage provides security and long-term affordability.

FHA Loan – As low as 3.5% Down

For buyers looking to put less money down, an FHA loan is an excellent option. With as little as 3.5% down, you can purchase your house and fulfill your dream of homeownership. FHA loans are backed by the Federal Housing Administration, providing added protection and flexibility for first-time homebuyers

first time home buyer jacksonville
first time home buyer



VA Loan – No money Down!

If you are a veteran or military member, a VA loan can offer you an incredible deal. This loan program allows eligible individuals to purchase a home with no down payment and no private mortgage insurance (PMI) requirements. If you qualify for a VA loan, take advantage of this opportunity to achieve homeownership with favorable terms.

Conventional Loan

Contrary to popular belief, conventional loans are not limited to buyers with a 20% down payment. In fact, conventional loans can be obtained with as low as a 3%-5% down payment. This flexibility makes
conventional loans an attractive option for many first-time homebuyers in Jacksonville.

Determining Your Mortgage Eligibility

Key Factors for Mortgage Approval

When applying for a mortgage, there are three primary factors that lenders consider: cash, credit, and income. Let’s explore each of these factors in detail:


Cash refers to your down payment and available funds. Lenders want to ensure that you have enough money to cover the down payment requirement for your chosen loan program. The amount of cash you have available will impact your mortgage eligibility.


Your credit score and debt-to-income ratios play a significant role in mortgage approval. Lenders will pull your credit report to assess your creditworthiness. Maintaining a good credit score and managing your
debts responsibly will increase your chances of mortgage approval.


Lenders need to verify your income through tax returns, pay stubs, and W2s. This step ensures that you have a stable source of income to support your mortgage payments. Providing accurate and verifiable income documentation is crucial for mortgage eligibility.

Pre-Qualification and Partner Networks

Before you start your home search, it’s beneficial to get pre-qualified for a mortgage. Pre-qualification provides you with an estimate of the loan amount you may be eligible for, giving you a clear budget to work
with. To apply for a prequalification and have a loan officer reach out apply here

Conclusion To Buying Your First Home In Jacksonville Florida

Congratulations on taking the first steps towards homeownership in Jacksonville, FL! By exploring the First-Time Homebuyer Programs and loan options available, you’re well on your way to making your
dream a reality. Remember to review the eligibility criteria, consider down payment assistance, and determine your mortgage eligibility based on cash, credit, and income. With the support and guidance of professionals in the field, you can navigate the homebuying process with confidence. Start your
journey today and embrace the joys of owning your first home in beautiful Jacksonville, FL!

Buying your first home in Jacksonville Florida


Information: As low as 3.5% Down for FHA Loan and HomeReady as low as 3% Down


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