Buying your first home is exciting and a little overwhelming. Jason Sirounis, a licensed Florida broker, walks you through programs, loans, costs and contracts in plain English so you can buy with confidence.
Talk to JasonSearch HomesAre you ready to buy your first home
You do not need perfect finances, but a few basics make the process smoother. Check these six areas and talk to a lender about the rest. When you are ready for the full process, read our complete buyer’s guide.
Your first-time buyer roadmap
Here is the typical path from deciding to buy to getting your keys. You can start at any point.
12 months out
Check your credit reports, pay down debt and start saving for the down payment, closing costs and reserves.
6 months out
Meet with a lender, learn which programs fit you and take a homebuyer education course if one is required.
3 months out
Get pre-approved, set your budget and pick the areas you want to live in.
Search
Tour homes with Jason, compare neighborhoods and make an offer when the right one appears.
Under contract
Inspection, insurance quotes, appraisal and underwriting. About 30 to 45 days to closing.
Keys in hand
Final walkthrough, sign the paperwork and move in.
What first-time buyers really pay up front
Here is an illustration for a $350,000 home. Closing costs usually add roughly 3% to 6% of the loan amount.
Florida down payment assistance
Florida and local governments offer help for first-time buyers. Most programs require a Florida Housing-approved lender, income and purchase price limits, a minimum credit score of about 640 and a homebuyer education course. Funding can run out, so check current availability.
Florida Hometown Heroes
- Up to 5% of the loan amount, capped at $35,000
- 0% second mortgage, deferred for 30 years
- For healthcare, education, first responders, military and veterans, court system and childcare workers
- Repaid when you sell, refinance or move out
FL Assist
- Up to $10,000 for down payment and closing costs
- 0% deferred second mortgage
- Paired with a Florida Housing first mortgage
HFA Preferred and Advantage
- Assistance of 3%, 4% or 5% of the loan amount as a forgivable second mortgage
- Forgiven gradually over five years if you stay in the home
- Paired with a Florida Housing conventional loan
Down payment assistance
- Roughly $10,000 to $70,000 depending on income
- First-time buyers under about 120% of area median income
- Homebuyer education required
Purchase assistance
- Up to $75,000 for very low income and $60,000 for low income buyers
- Second mortgage, 0% deferred for qualifying households
- Covers Melbourne and Palm Bay buyers
Zero down options
- VA loans for eligible veterans and service members
- USDA loans in eligible areas with income limits
- Ask Jason whether your target area qualifies
Amounts and requirements are summaries from public program information and change often. Seminole, Osceola, Lake, Volusia and Marion counties also have local programs; ask Jason which ones are open now. Always confirm with a Florida Housing-approved lender.
How your credit score shapes your options
Credit does not have to be perfect, but it opens or closes doors. Here is how scores generally line up with loan options. Lenders set their own overlays, so treat these as guideposts.
Six mistakes first-time buyers make
First-time buyer glossary
- Earnest money
- A deposit that shows you are serious. It is credited to you at closing.
- Escrow
- A neutral account where funds and documents are held until closing, and an account your lender may use to pay taxes and insurance.
- PMI and MIP
- Mortgage insurance on smaller down payments. PMI is for conventional loans, MIP is for FHA loans.
- Debt-to-income ratio (DTI)
- Your monthly debt payments divided by your gross monthly income.
- Closing Disclosure
- A form that lists the final loan terms and costs. You receive it before closing.
- Appraisal
- An independent estimate of the home’s value ordered by your lender.
- Homestead exemption
- A Florida property tax benefit for your primary residence. See our Amendment 3 guide for buyers.
- CDD
- A Community Development District fee charged in some newer Florida communities and collected through your tax bill.
First-time homebuyer questions, answered
What counts as a first-time homebuyer in Florida?
Most programs define a first-time buyer as someone who has not owned a primary residence in the past three years. Some programs, including the Hometown Heroes program, waive the first-time requirement for veterans. Programs have their own rules, so check with a lender.
How much do I need for a down payment as a first-time buyer?
It can be as low as 3% on some conventional loans, 3.5% on an FHA loan with a 580 or higher credit score, and 0% with VA or USDA loans if you qualify. Down payment assistance programs can help cover the down payment and closing costs.
What credit score do I need to buy my first home?
FHA loans allow scores as low as 500 with 10% down and 580 with 3.5% down. Many conventional loans start around 620. Florida Housing programs generally require 640. Higher scores usually mean better rates.
What is the Florida Hometown Heroes program?
It offers eligible first-time buyers in certain occupations, such as healthcare workers, teachers, first responders, military and veterans, court employees and childcare workers, down payment and closing cost help up to 5% of the first mortgage, capped at $35,000. It is a 0% deferred second mortgage, not a grant, and it is repaid when you sell, refinance or move out. Funding and rules change.
Do I have to take a homebuyer education course?
Most down payment assistance programs and some loans require a short approved homebuyer education course. It is usually online and inexpensive, and it is useful even if it is not required.
How long does it take to buy a first home?
Plan on a few months from your first lender conversation to a pre-approval, a search that might take weeks or months, and about 30 to 45 days from accepted offer to closing on a financed purchase.
Should I buy a new construction home as a first-time buyer?
It can be a great option. New homes often come with warranties and modern systems, and builders may offer incentives. Contracts and timelines differ from resale homes, so have Jason review the terms with you. See our Marion Oaks page for new construction near Ocala.
How do I know how much house I can afford?
Start with your monthly budget, then ask a lender for a pre-approval. Count the full payment: principal and interest, taxes, homeowners and flood insurance, mortgage insurance and HOA or CDD fees. Our mortgage calculator helps you test scenarios.
Let’s find your first home
Tell Jason what you want and what you are comfortable paying. He will point you to the right lenders and programs and send you homes that fit.
Contact JasonMortgage CalculatorCall (407) 790-7341This guide is general information, not legal, tax or financial advice. Programs, limits, rates and rules change; confirm details with a Florida Housing-approved lender. Sources include Florida Housing Finance Corporation program summaries and HUD 2026 FHA limits. FL Pro Brokers, Jason Sirounis, licensed real estate broker.