about the program

What is the First Time Homebuyer Program?

The information contained on this site is for informational purposes only. In order to determine if you qualify for our Program and to determine the correct Program qualifying Income and Purchase Price Limits, please take a look below at our income family limits below to see how you may be eligible. Our approved loan officers can also assist you with any questions you may have specific to your credit history as well as Program requirements.

Florida Housing’s First Time Homebuyer (FTHB) Program offers 30-year, fixed-rate, FIRST mortgage loans to first-time homebuyers through participating lenders and lending institutions throughout the State of Florida. Eligible borrowers may also participate in one of Florida Housing’s second mortgage programs to assist borrowers with down payment assistance and closing costs.

If you are not a first-time homebuyer, you may still be eligible to participate if you are purchasing a home in a federally designated targeted area or if you are a qualified Veteran.

The First Time Homebuyer Program uses income and purchase price limits to determine eligibility. Additionally, potential borrowers must. Contact our team to find out how we can assist you in becoming a homeowner:

Complete a Homebuyer Education Class-Take a look at our  buyer workshop schedule for 2021 and register. 
Qualify for a Mortgage Loan and have a qualifying FICO Score.

What is my cash obligation in this?

The Mortgage Ministree Project offers assistance to families who do not have enough money for the down payment and closing costs to pay for their selected homes. If your household is between 0% to 50% of the median income and must provide a $500 of their own funds for the down payment and closing costs. If your household is between 51% to 120% of the median income and must provide a $1000 of their own funds for the down payment and closing costs.

How are the funds awarded?

Some of our home purchase assistance programs are designed to increase the level of affordable homeownership for low (0-50% AMI), low (51-80% AMI), and moderate (81-120% AMI) income households. Funding for the program is granted by the HOME. The HOME Program regulations require all agencies receiving monies use Section 8 program income definitions and guidelines.