If you’re dreaming of buying your first home in the Sunshine State, you’re not alone. Florida continues to be one of the most attractive places for new homeowners due to its growing job market, beautiful weather, and variety of housing options. But before you start house hunting, it’s important to understand what it takes to qualify as a first time home buyer in Florida.
At Capital Home Mortgage, we specialize in helping first-time buyers navigate the mortgage process with confidence. In this guide, we’ll walk you through the essential steps to qualify and secure the best financing options available in 2025.
✅ Who Qualifies as a First Time Home Buyer in Florida?
The definition of a first time home buyer may be broader than you think. According to most mortgage programs, you qualify if:
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You haven’t owned a home in the last 3 years
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You’re a single parent who previously owned a home with a former spouse
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You’re a displaced homemaker who owned property with a spouse but no longer holds the title
📋 Florida First Time Home Buyer Requirements
To qualify for most first time home buyer programs in Florida, you’ll need to meet several basic criteria:
1. Credit Score
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Minimum Score: 580 for FHA loans (with 3.5% down)
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Ideal Score: 620+ for better rates and broader loan access
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Conventional Loans: Typically require a credit score of 620+
2. Debt-to-Income Ratio (DTI)
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Most lenders prefer a DTI below 43%
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Lower DTI can help you qualify for larger loans and better rates
3. Stable Employment & Income
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At least 2 years of consistent employment history
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Pay stubs, W-2s, and tax returns will be required
4. Down Payment
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FHA loans require as little as 3.5% down
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USDA and VA loans may allow 0% down payment options
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Conventional loans often require 3%–5% down for first-time buyers
💡 Pro Tip: At Capital Home Mortgage, we help buyers explore down payment assistance (DPA) programs throughout Florida.
🏠 Best Mortgage Programs for First Time Home Buyers in Florida
Florida offers a range of loan options tailored to first-time buyers. Here are the most popular:
🔹 FHA Loans
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Backed by the Federal Housing Administration
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Flexible credit requirements
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Low 3.5% down payment
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Ideal for buyers with limited savings
🔹 VA Loans
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Available to active-duty military, veterans, and eligible spouses
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No down payment required
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No private mortgage insurance (PMI)
🔹 USDA Loans
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For rural and some suburban areas in Florida
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0% down payment
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Income limits apply
🔹 Conventional 97 Loan
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Just 3% down
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Available to first-time homebuyers with good credit
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PMI required but can be canceled once equity reaches 20%
💰 Down Payment & Closing Cost Assistance in Florida
Many first time home buyers in Florida qualify for state-sponsored assistance programs, especially through Florida Housing.
Popular Programs Include:
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Florida Assist (FL Assist): Up to $10,000 as a second mortgage with deferred payment
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Florida Homeownership Loan Program (FL HLP): Up to $10,000 in a second lien amortized over 15 years
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3%, 4%, or 5% HFA Preferred Grants: Forgivable down payment assistance for qualified borrowers
✅ Capital Home Mortgage works directly with these programs to help reduce your upfront costs and increase buying power.
📍 Best Cities in Florida for First Time Home Buyers
Florida’s real estate market varies by region. Here are a few affordable and high-demand areas to consider in 2025:
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Lakeland: Family-friendly and budget-friendly
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Ocala: Rural charm and USDA-eligible zones
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Palm Bay: Affordable coastal living
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Gainesville: Popular among young professionals and university grads
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Cape Coral: Booming with new developments
🧾 Documents Needed to Qualify
Here’s what you’ll typically need to submit when applying for a mortgage as a first-time buyer:
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Proof of income (W-2s, pay stubs, tax returns)
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Proof of assets (bank statements, retirement accounts)
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Government-issued ID
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Credit history and score
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Employment verification
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Signed purchase agreement (once under contract)
🏁 Steps to Qualify and Get Approved
Follow these steps to streamline your journey to homeownership:
Step 1: Get Pre-Qualified
Speak with a loan officer at Capital Home Mortgage to determine how much house you can afford.
Step 2: Explore Loan Programs
We’ll help match you with the best mortgage type for your needs and eligibility.
Step 3: Apply for Down Payment Assistance
We help you access the right DPA program in your city or county.
Step 4: Submit Your Application
With all documentation prepared, we submit your full mortgage application for underwriting.
Step 5: Get Approved and Close
Once approved, we’ll walk you through closing and help you unlock the keys to your first Florida home.
🏡 Why First Time Home Buyers Choose Capital Home Mortgage
At Capital Home Mortgage, we take pride in guiding first-time buyers through every step with:
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Low competitive rates
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Fast pre-approvals
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Access to statewide and local assistance
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Dedicated mortgage advisors who know Florida
We understand that buying your first home can feel overwhelming — but with the right partner, it doesn’t have to be.
📞 Ready to Get Started?
Don’t wait to make your Florida homeownership dream a reality. Whether you’re ready to apply or just exploring your options, Capital Home Mortgage is here to help.
Contact us today to speak with a loan expert or get pre-approved in minutes!
