mortgage resources

mortgage programs

At a glance

Get to Know Your Homebuyer Program

New to buying a home? Explore the Q&As below to find answers to the most common questions. 

First-Time Homebuyer Bond Program

The program offers first-time homebuyers a 30-year, fixed-rate mortgage—plus down payment and closing cost assistance—to make purchasing a home more affordable.

A first-time homebuyer is someone who has not owned and occupied a primary residence in the past three years. Veterans and buyers in selected "Targeted Areas" may be exempt from this rule.

You may qualify for FHA, VA, USDA, or conventional mortgage options through approved program lenders, depending on your financial and credit profile.

Yes. Your household income and the home's purchase price must not exceed set limits, which vary by county and household size. The income of all occupants aged 18 and older is considered for eligibility.

Yes, a minimum credit score of 640 is typically required to participate in the program.

At least one borrower must complete an approved homebuyer education course before closing on the loan.

The program offers down payment and closing cost assistance, generally between $7,500 and $10,000, in the form of either a no-interest, deferred second mortgage or a low-interest loan with monthly payments.

Yes. The property you purchase must be your primary residence—not an investment or vacation home.

Yes. The program considers the first-time homebuyer status, income, and other eligibility criteria for all borrowers, non-purchasing spouses, and even parties named on the deed.

  • Work with one of our mortgage specialists.
  • Complete the homebuyer education requirement.
  • Apply for the loan and assistance.
  • The down payment help is applied at closing if you qualify.

Down payment assistance must usually be repaid if you sell, transfer, refinance, or no longer occupy the home as your primary residence during the loan or assistance term.

Hometown Hero Program

The program offers down payment and closing cost assistance—up to $35,000 or 5% of the first mortgage loan amount—to help eligible frontline workers, educators, healthcare professionals, and related public service employees purchase a primary home in Florida.

Eligibility is limited to full-time employees (working at least 35 hours/week) in approved frontline or public service occupations such as healthcare, education, first responders (police, firefighters, EMTs), public safety, court system staff, childcare workers, and active-duty military or veterans.

Yes. Applicants' total household income must be below 150% of the area’s median income (AMI) for the county in which the property is located. Purchase price limits also vary by county and property type.

Generally, yes. Most applicants must be first-time buyers (no ownership in a primary residence in the past three years). However, active-duty military personnel and veterans are exempt and may apply even if they’ve owned a home recently.

  • Minimum credit score: 640 for most loan types; 660 for manufactured homes
  • Must qualify for an approved loan type (FHA, VA, USDA, or Fannie Mae/Freddie Mac conventional)
  • Maximum DTI (debt-to-income) ratio applies; usually 50% automated, 43-45% manual.

Eligible properties include single-family homes, townhouses, condos, 2–4-unit homes (owner-occupied), and manufactured homes (1994 or newer). The home must be your primary residence; investment or vacation homes are not allowed.

Assistance is up to 5% of your new mortgage amount (capped at $35,000). It's a 0% interest, deferred second mortgage—meaning you don’t pay monthly, and it is only repaid if you sell, refinance, transfer the deed, or move out.

Yes, all applicants must complete an approved homebuyer education course before closing. The course must meet HUD or National Industry Standards guidelines. Completion certificates are typically valid for two years.

  • Verify your occupation and income eligibility
  • Complete the homebuyer education requirement
  • Contact a participating Florida Housing lender to apply and see if funds remain available (funds are limited each year).
  • Prepare necessary documentation (employment, income, credit)
  • Complete lender’s application and loan approval process

Yes. There is an annual cap on program funding, and funds are distributed on a first-come, first-served basis. For 2025, funding is $50 million, so it is important to apply as soon as the program opens.

If you sell the home, refinance, transfer ownership, or stop occupying the home as your primary residence, you will need to repay the deferred second mortgage used for down payment assistance.
Mortgage specialists

Find Your Perfect Mortgage with Expert Help

Not sure which mortgage loan is right for you? Our Mortgage Specialists are here to guide you every step of the way. Contact a local expert to get personalized advice and find the loan that fits your needs. Locate a Mortgage Specialist or call (863) 688-8443 or toll free (855) 915-4663.
Mortgage Specialists
Couple meeting with MIDFLORIDA Mortgage Specialist. They are sitting at desk with documents and a digital tablet presentation.

Explore More Mortgage Resources

Find helpful tools and information to guide you through the mortgage process.

Planning for Homeownership

Start planning for your future home today with tips and advice on where to start from our mortgage experts.
Read More

How to get a loan

Ready to secure your mortgage? Learn all about the loan process from application to funding in our step-by-step guide.
Read More

Mortgage Checklist

Make sure you're fully prepared. Check out our complete list of the documents and information you'll need to gather for a smooth mortgage loan process.
Read More

Still Have Questions?

Mobile phone icon Contact Us
Branch icon Visit Us
Customer service representative icon Schedule appointment
Laptop icon Ask Kit