Florida: Essential home buying resources

As a home buyer in Florida, several questions may swirl in your mind: Where will you live? What type of home do you prefer? And likely most importantly, how will you finance your home purchase? 

Let’s explore some market insights on the Florida housing market, tools, and resources to help you buy a home in the Sunshine State.

Buying a home in Florida: By the numbers

• Median sale price: $412,400
• Percentage of homes with price drops: 31.9%
• Percentage of homes sold over asking: 10.8%
• Median days on market: 67

Source: May 2025 data from Redfin

Resource list for Florida home buyers

• Conventional loan
• FHA loan
• VA loan
• Jumbo loan
• Home equity line of credit (HELOC)
• Gift of equity
• Florida property taxes
• Florida manufactured home requirements
• Florida home equity loan interest rate and APR restrictions
• Alimony income in Florida

First-time home buyer programs and grants in Florida

Let's look at some first-time home buyer programs in Florida you may want to consider. Not every lender works with all state-specific home buying programs. Be sure to check with your lender to see if they work with a program you are interested in.

• Florida Housing’s First Time Homebuyer Program: This is a state-sponsored program offering competitive interest rates, reduced down payment requirements, and down payment assistance to eligible first-time buyers in Florida.
• Hometown Heroes Housing Program: This program provides financial assistance to Florida frontline community workers, such as teachers, nurses, and first responders, enabling them to purchase homes with affordable financing options.

National programs available to Florida first-time home buyers

National programs might be better for your personal situation. The following national programs available to Florida first-time home buyers include:

• Department of Housing and Urban Development (HUD) housing: A HUD home is a foreclosed property originally purchased with an FHA loan and individuals can purchase them. To qualify for HUD homes, home buyers must be a U.S. citizen or have eligible immigration status. You must typically qualify with a 500 credit score, 2 years of work history and the funds to qualify for a mortgage. You must live in the home for at least 1 year after purchasing and not have bought a HUD home in the past 2 years.
• Government-backed home loans: Government-backed mortgages (FHA loans, VA loans, USDA loans) are also great options for first-time home buyers. They typically require lower down payments, have flexible credit score requirements and potentially lower interest rates. Check with your lender about whether one of these types of government-backed loans might align with your preferences and qualifications.
• Habitat For Humanity: First-time home buyers may also consider a Habitat for Humanity home. To qualify, you must demonstrate a need for safe, affordable housing, have low to moderate income (those whose income does not exceed 60% of the area median income as defined by HUD), partner through the process using sweat equity and agree to pay an affordable mortgage.

FAQ: First-time home buyer grants and programs in Florida

Here are some frequently asked questions to consider before buying a house and moving to Florida.

Who is considered a Florida first-time home buyer?

The qualifications for first-time home buyers in Florida use the Internal Revenue Service (IRS) definition: an individual (and spouse, if applicable) who has not owned another principal residence for 3 years prior to the date of purchase of the principal residence.

Others seeking homeownership under these circumstances may also qualify:

• Borrowers who previously owned a mobile home within the last 3 years
• Individuals who owned a home if their spouse didn't
• Renters with a different home, used as an investment property
• Divorced single parents who owned a home in the last 3 years with a former spouse

Where can I find more information about first-time home buyer programs in my county?

You can learn more about loan programs in your county by using the Wizard. Input the number of people in your household and the county you plan to live in.

You can also learn about local resources on the HUD website. The HUD website lists statewide and regional programs and local sources by county. 

Do first-time home buyers need a down payment in Florida?

You may not need to come up with a down payment if you qualify for a down payment assistance program. However, it's important to read through all the requirements before you choose a down payment assistance program or first-time home buyer grants Florida. Your lender can also help you determine whether you need a down payment.

How much are closing costs in Florida?

Closing costs will vary depending on the program you opt into. First time home buyer programs Florida may help with closing costs, such as the HFA Preferred and HFA Advantage PLUS program. Some programs may offer more assistance with closing costs than others – look into each program to learn the details.

The bottom line

Being a home buyer in Florida doesn’t have to be intimidating. Your lender can help you choose what works for your situation.

Ready to get moving on buying your first home? Get started today with Rocket Mortgage.