Florida First-Time Home Buyer Programs

Buying a home and getting a mortgage loan can prove challenging for some people, especially for first-time homeowners. Fortunately, there are several state grants for new home buyers that can assist with down payments, closing costs, and other home purchase related expenses. Each program has their own qualifying criteria and it is important to keep those requirements in mind when deciding on which program is right for your needs.

State Housing Initiatives Program (SHIP)

In the state of Florida, SHIP is available in every county. While each county offers a different version, they all provide first-time home buyers with some form of down payment and closing cost assistance. They also typically require that new home buyers complete a home ownership counseling course. For more details on SHIP, check with your county governments or speak with a mortgage company approved to work with SHIP.

Florida Housing Bond Programs

The Florida Housing Finance Corporation offers down payment and closing cost assistance (through approved mortgage companies) for first-time homebuyers who meet certain income and credit score requirements. The assistance can take the form of a $7,500 second mortgage (up to $15,000 in certain counties like Osceola) in some instances or a forgivable grant in others.

These are just some of the unique programs that are available to you as a first-time home buyer. Make sure to choose a mortgage company that is approved to originate such loans when you consider where to finance your mortgage. Butler Mortgage has over 25 years of trusted experience in helping homebuyers purchase the home of their dreams. Contact us online or by calling 407-931-3800 for a complimentary consultation.