First-Time Home Buyer Florida
Buy your first Florida home with as little as 3% down (or 3.5% FHA, or $0 down with VA/USDA). We stack low-down-payment loans with Florida Hometown Heroes assistance – and if you are self-employed or a business owner, we have bank-statement and P&L options that skip the tax returns.
- As little as 3% down (Conventional 97) or 3.5% with FHA – $0 down on VA and USDA
- Stack Florida Hometown Heroes and Florida Assist down-payment assistance and family gift funds
- Self-employed or a business owner? Qualify with bank-statement or P&L loans – no W-2s or tax returns
- Foreign national, jumbo and super jumbo programs for every price point
- Local Florida guidance from a direct lender since 1998
Get Pre-Approved to Buy Your First Florida Home
Get Your Free Quote! No Credit Pull Required.
Buying your first home in Florida (2026-2027)
Becoming a first-time buyer in Florida is more attainable than most people think. You do not need 20% down – conventional loans start at just 3%, FHA at 3.5%, and VA and USDA offer $0-down financing for those who qualify. Layer in Florida Hometown Heroes and Florida Assist, and much of your remaining cash to close can be covered too.
And if you are self-employed, own a business, or earn 1099 income, you are not shut out: our non-QM programs let you qualify on bank deposits or a profit-and-loss statement instead of tax returns. Whatever your situation, we match you to the right Florida loan and get you pre-approved fast. Start your application →
Low-down-payment loans for Florida first-time buyers
You have more low-down options than you may realize. Here is how little you can put down in Florida:
Conventional 97 – 3% down
Fannie Mae/Freddie Mac loans with just 3% down for first-time buyers. PMI cancels automatically as you reach 20% equity.
FHA – 3.5% down
Government-insured, credit from 580, flexible debt-to-income. The most popular first-time-buyer loan in the country.
VA – $0 down
For veterans, active-duty and eligible surviving spouses: no down payment and no monthly mortgage insurance.
USDA – $0 down
For eligible rural and many suburban areas: 100% financing with income limits and no down payment.
HomeReady & Home Possible
3%-down conventional loans with reduced mortgage insurance for income-eligible buyers.
Florida Hometown Heroes & DPA
State down-payment assistance plus gift funds can cover most or all of your down payment and closing costs.
Florida down payment assistance you can pair with FHA
Your loan can stack with Florida down-payment assistance – often covering most or all of your down payment and much of your closing costs:
Florida Hometown Heroes
Up to 5% of the first mortgage (min $10,000, max $35,000) as a 0% deferred second – no monthly payment, repaid only when you sell, refinance or move. For eligible full-time Florida professionals up to 150% of area median income.
Florida Assist & HFA Preferred
Florida Housing second mortgages that add down-payment and closing-cost help on top of your first loan.
Salute Our Soldiers
Down-payment assistance for active-duty military and veterans buying in Florida.
Gift funds & seller credits
Layer family gift funds and up to 6% in seller-paid closing costs to buy with the least cash.
Who qualifies
First-time buyers in eligible fields (healthcare, teachers, first responders, childcare, military) within income and price limits, with a homebuyer class.
Tax savings at closing
Certain programs waive doc-stamp and intangible taxes on the assisted portion – real dollars off closing costs.
Assistance programs have income, price and funding limits, are first-come while funds last, and are subject to change and eligibility. We confirm what you qualify for.
Florida home loan calculators
Run the numbers on your Florida FHA loan in seconds. These estimators are for planning only – apply for your exact, personalized figures.
1. FHA monthly payment
Estimate your full monthly payment including FHA mortgage insurance.
2. Down payment & cash to close
See your down payment and estimated cash after seller credits.
3. How much home can I afford?
Estimate your FHA price range from income and monthly debts.
4. FHA loan amount + MIP
See your base loan plus the 1.75% upfront MIP financed in.
Estimates only and not a commitment to lend. FHA charges 1.75% upfront MIP (financed) plus a monthly annual premium (~0.55% here for illustration). Actual figures depend on your property, credit and qualification.
Non-QM loans: options for the self-employed, foreign nationals & jumbo buyers
Non-QM ("non-qualified mortgage") loans use common-sense underwriting for buyers who do not fit the standard W-2 box. If you own a business, earn 1099 income, are buying from abroad, or need a larger loan, one of these Florida programs likely fits:
Bank Statement Loan
For self-employed borrowers and business owners. Qualify on 12-24 months of personal or business bank deposits instead of W-2s or tax returns - ideal if your returns show heavy write-offs.
Profit & Loss (P&L) Only Loan
An almost no-doc option for business owners. Qualify on a CPA- or licensed-accountant-prepared profit-and-loss statement - often with no tax returns, W-2s, or even bank statements.
1099 Income Loan
For independent contractors and gig workers. Qualify using your 1099 forms instead of full tax returns.
Foreign National Loan
For non-US citizens and non-residents. Buy US property without a Social Security number or US credit history - typically with 25-35% down.
Asset-Depletion Loan
For retirees and high-net-worth buyers. Qualify using your liquid assets (savings, brokerage, retirement) instead of monthly income.
DSCR Investor Loan
If your first purchase is a rental. Qualify on the property's rent rather than your personal income - no tax returns required.
Jumbo Loan
For higher-priced homes above the conforming limit. In 2026, a jumbo loan is any mortgage above the conforming limit of $832,750, up to $1,249,125 in high-cost Florida counties like Monroe (the Keys) and Collier. Competitive rates with as little as 10% down on some programs.
Super Jumbo Loan
For luxury and high-value purchases. Typically $2-3 million and up (to $30M+), with flexible structures for complex-income and high-net-worth buyers.
Your first Florida home is closer than you think →Why first-time buyers choose us in Florida
- Put down 3% or less and keep your savings intact
- A 580 FICO qualifies for FHA with practical underwriting
- Business owner? Qualify with bank statements or a P&L
- Stack state assistance and family gift funds
- Jumbo, super jumbo and foreign-national loans available
Best Florida places to live for families & top schools
Buying where the schools are strong protects your family and your home's resale value. These Florida areas consistently earn top marks:
St. Johns County (Nocatee, Ponte Vedra)
Florida's #1 school district for years, with master-planned family living.
Lakewood Ranch (Sarasota/Manatee)
One of the top-selling master-planned communities in the U.S., A-rated schools.
Nassau County (Fernandina, Yulee)
Fast-growing, top-rated northeast-Florida schools near the beaches.
Seminole County (Oviedo, Lake Mary)
Orlando-metro schools among the best in the state.
Wellington & Parkland (South FL)
Palm Beach and Broward's premier family towns with top schools.
Viera (Space Coast)
Master-planned Melbourne-area living near aerospace jobs and A-rated schools.
Safest Florida cities & lowest-crime areas
Safety matters as much as price. These are among Florida's safest cities and suburbs, many realistic for first-time buyers:
Parkland (Broward)
Planned neighborhoods and top schools with very low violent crime.
Weston (Broward)
Master-planned, gated communities - the safest large Broward suburb.
Estero (Lee)
Fast-growing Southwest Florida community with newer, lower-cost inventory.
Palm Beach Gardens
Suburban safety and amenities on the Palm Beach coast.
Nocatee / St. Johns County
Booming master-planned area with top schools and low crime.
Port St. Lucie
Affordable, safe-leaning Treasure Coast city popular with first-time buyers.
Florida's total and violent crime both fell about 5% in 2025 (homicides down roughly 15%), sitting below the national average and improving into 2026-2027. Crime figures are third-party estimates (SafeWise, Niche, FBI/state UCR) and vary by source and year.
First-time home buyer loans by Florida city
Explore loan options and local guidance in your market:
- First-time buyer & FHA loans in Tampa
- First-time buyer & FHA loans in Orlando
- First-time buyer & FHA loans in Jacksonville
- First-time buyer & FHA loans in Miami
- First-time buyer & FHA loans in Fort Lauderdale
- First-time buyer & FHA loans in West Palm Beach
- First-time buyer & FHA loans in Sarasota
- First-time buyer & FHA loans in Kissimmee
Do not see your city? Start your application → - we lend statewide across Florida.
Get your Florida home loan moving
From salaried buyers to business owners, foreign nationals and jumbo purchasers, we line up the right Florida loan and get you pre-approved fast - usually the same week.
- Fast, no-obligation pre-approval
- Every loan type under one roof
- DPA and family gifts welcome
Get pre-approved - low and no-down options →Florida 2027 housing & FHA outlook
A few Florida trends worth watching as you plan a 2027 purchase:
More inventory, more leverage
Florida inventory has climbed off its lows, shifting several metros toward balanced - first-time buyers have more room to negotiate and win seller credits into 2027.
Insurance is the swing factor
Homeowner insurance is the biggest variable in a Florida payment - shop carriers early and build it into your budget and pre-approval.
New construction + builder incentives
Heavy new-home supply in Central and Southwest Florida means rate buydowns and closing-cost help from builders.
DPA demand keeps growing
Hometown Heroes usage among teachers, nurses and first responders keeps rising - apply early each program year while funds last.
Outlook only, not a guarantee or financial advice. Market conditions change; we give you current, personalized numbers when you apply.
How to buy your first home in Florida
Get pre-approved
Apply online in minutes. We confirm your budget, rate and the lowest down payment you qualify for - including bank-statement options if you are self-employed.
Find your home
Shop with confidence in the Florida town and school zone you want; a real pre-approval makes your offer stronger.
Lock your loan & assistance
We line up your loan plus any down-payment assistance and lock your rate.
Close & get your keys
Sign, get your keys, and start building equity in your first Florida home.
Florida first-time home buyer FAQ
How much down payment do I need to buy my first home in Florida?
As little as 3% on a Conventional 97 loan, 3.5% on an FHA loan, or $0 down with VA (veterans) or USDA (rural) financing. Florida Hometown Heroes can add up to $35,000 toward your down payment and closing costs, and gift funds are allowed.
I own a business in Florida and write everything off - can I still qualify?
Yes. With a bank-statement loan you qualify on 12-24 months of deposits instead of tax returns, or with a P&L-only loan on a CPA-prepared profit-and-loss statement. These are built for self-employed Florida buyers whose tax returns understate their real income.
What credit score do I need to buy my first home in Florida?
FHA loans start at a 580 score (3.5% down), and we work with buyers rebuilding credit. Conventional 3%-down loans generally want 620+. We will give you a clear plan to qualify.
Do I have to be a first-time buyer to use these programs?
Many low-down and assistance programs are for first-time buyers (no ownership in the last 3 years), but several - including FHA, VA, USDA and some DPA - are open to repeat buyers too.
What is a non-QM loan, and is it more expensive?
Non-QM loans (bank-statement, P&L, 1099, foreign national, asset-depletion) use alternative income documentation for buyers who do not fit the standard W-2 mold. Rates are modestly higher than a top-tier conventional loan, but they make ownership possible - and you can often refinance later.
Is CambridgeHomeLoan.com a direct lender?
Yes - we are a direct lender (NMLS #1826020) serving homebuyers since 1998, offering FHA, VA, USDA, conventional, jumbo and non-QM loans under one roof.
Apply to buy your first Florida home
Get pre-approved in minutes - low-down and $0-down options, down-payment assistance, and bank-statement, P&L, foreign national and jumbo programs. A direct lender serving Florida since 1998.
Get Pre-Approved to Buy Your First Florida Home
Get Your Free Quote! No Credit Pull Required.
Rates, terms, loan limits, assistance programs and non-QM guidelines are for 2026-2027, subject to change, and depend on the property, credit and qualification. Not a commitment to lend. Equal Housing Lender.