Overview
Florida's housing market offers opportunities for first-time buyers, with a median home price of approximately $400,000. The Florida Housing Finance Corporation (FHFC) provides the primary state-level assistance through mortgage programs and down payment assistance for qualifying buyers.
The Florida Assist Second Mortgage is a florida housing finance corporation's key offering for first-time buyers, providing up to $10,000 as a 0% interest, non-amortizing, deferred second mortgage. This program is designed to reduce the upfront cost barrier that prevents many qualified buyers from purchasing a home. Buyers must complete a HUD-approved homebuyer education course and work with an approved lender.
State Programs
Florida Assist Second Mortgage
Down payment and closing cost assistanceSalary Connect (HFA Preferred)
Forgivable down payment assistanceFederal Programs Available in Florida
These nationwide programs can be combined with Florida state assistance for maximum benefit.
FHA Loan Program
Low down payment mortgageVA Home Loan
Zero down payment mortgageUSDA Rural Development Loan
Zero down payment mortgageTips for First-Time Buyers in Florida
The Salary Connect (HFA Preferred) extends additional support through up to 5% of the first mortgage as a forgivable second mortgage. Florida has no state income tax, maximizing take-home pay for mortgage payments. Property taxes average about 0.91%. The combination of no income tax and available DPA programs makes Florida attractive despite rising home prices.
Federal programs complement state offerings in Florida. FHA loans require just 3.5% down with flexible credit requirements. VA loans provide zero-down-payment financing for veterans and active-duty military, particularly relevant near multiple major military bases. USDA loans offer zero-down-payment options in eligible rural areas, which cover significant portions of Florida.
Prospective buyers should compare all available options, as combining state and federal programs can dramatically reduce out-of-pocket costs. Working with a HUD-approved housing counselor can help navigate the application process and identify the best program combination for your situation.
Frequently Asked Questions
For educational purposes only -- not financial or tax advice. Program details, eligibility requirements, and benefit amounts are subject to change. Verify all information directly with the administering agency before applying. Last verified: March 30, 2026.