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First-Time Homebuyer Loan

Clients often contact us for information about first time homebuyer programs in Florida. Although they are often referred to as a separate category, low-down payment conventional loan programs and FHA loans are often referred to as First Time Homebuyer loans. These loans are meant to encourage homeownership by offering a more relaxed set of guidelines.

Another common misunderstanding is that First-Time Homebuyer programs are only for people who have never owned a home. Not true! For our conventional First Time Homebuyer programs in Florida, anyone who has not owned a home within three years is eligible, provided that they meet the other qualifications. However, if you have owned a home within the past three years, we still have low down payment options for you!

Qualified first-time borrowers can get into a home with as little as 3% down and a minimum credit score of 620. If your credit is not quite there yet, check out our Frequently Asked Questions page! We have some helpful information about how you can boost your credit score before applying for a mortgage.

It is important to know that many programs require the borrower to take a quick buyer education course. They do this to ensure that first-time buyers are prepared to enter homeownership.

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