Florida · First-time buyers

Florida First-Time Home Buyer Guide

Last updated: June 2026

Buying your first home in Florida means navigating down payment requirements, documentary stamp taxes, hurricane insurance, and state/local assistance programs. This guide walks you through the essentials and links to free calculators to estimate your real numbers.

1. Who counts as a first-time home buyer in Florida?

Most programs define a first-time buyer as someone who has not owned a primary residence in the past three years. Some Florida programs also allow repeat buyers in targeted areas or for veterans. Always confirm eligibility with the specific program administrator before applying.

2. Florida down payment & assistance programs

Florida offers several paths to reduce upfront cash requirements:

• Florida Housing Finance Corporation (FHFC) — down payment and closing cost assistance for qualifying buyers, often paired with a first mortgage.
• HFA Preferred / HFA Advantage — conventional loans with reduced mortgage insurance and optional assistance.
• FHA loans — as low as 3.5% down with flexible credit guidelines (popular with first-time buyers).
• VA & USDA — eligible veterans and rural-area buyers may qualify for 0% down.
• Local county/city programs — Miami-Dade, Broward, Orange, and other counties sometimes offer grants or silent second loans.

Search terms like first time home buyer florida no down payment often refer to combining assistance with FHA/VA/USDA — rarely means literally zero cash (you'll still need earnest money, inspections, and some closing costs).

3. True cost of ownership in Florida

Florida has no state income tax, but property taxes and homeowners insurance (including wind/hurricane coverage) can be significant. The statewide average effective property tax rate is roughly 0.91%, though counties like Miami-Dade and Broward differ. Use our mortgage calculator with the homestead exemption toggle to estimate taxes on your primary residence.

4. Florida closing costs to expect

Florida buyers pay documentary stamp taxes on the deed ($0.70 per $100) and mortgage note ($0.35 per $100), plus regulated title insurance, appraisal, and lender fees. Total buyer costs often run 2%–5% of the purchase price. Use the closing cost calculator for an itemized estimate.

5. Step-by-step buying process

1. Check credit score and debt-to-income ratio.
2. Get pre-approved with a Florida-licensed lender.
3. Research down payment assistance (FHFC + your county).
4. House hunt with a realtor familiar with your target county.
5. Make an offer, home inspection, and appraisal.
6. Final walkthrough, close, file for homestead exemption by March 1 of the following year.

6. Florida homestead exemption

File for homestead on your primary residence to reduce property taxes. The standard exemption is up to $50,000 (with $25,000 applying to all taxes and an additional $25,000 for non-school taxes above a certain assessed value). Save Our Homes caps annual assessed value increases — a major long-term benefit.