First-time buyers · Florida
FHA with 100% down payment assistance
FHA already has the most forgiving credit and debt-to-income guidelines of any mainstream program. Its one hard requirement is a 3.5% minimum investment. Down payment assistance supplies that 3.5% — so the guidelines stay forgiving and the cash requirement goes away.
Can you buy a house with no money down using FHA?
Yes. FHA with 100% down payment assistance pairs a standard FHA first mortgage at 96.5% loan-to-value with assistance covering FHA's 3.5% minimum required investment, so nothing comes out of your pocket for the down payment. Closing costs are separate and are usually handled with seller or lender credits.
How the structure works
Your FHA first mortgage stays exactly where it normally sits — 96.5% of the purchase price. The assistance covers the remaining 3.5% as a second lien, structured either as a deferred or forgivable second with no monthly payment, or as a repayable second with a small payment of its own.
Which structure you want depends on how long you plan to stay and how the pricing compares. We will model both before you choose. Gift funds and seller credits still work on top of it, which is usually how the closing costs get handled.
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Straight answers
Frequently asked
How much down payment assistance is available in Florida?
Florida Hometown Heroes provides 5% of the first mortgage loan amount, with a $10,000 minimum and a $35,000 maximum, at 0% interest with no monthly payment. FHA assistance programs can separately cover FHA's entire 3.5% minimum required investment, allowing a purchase with nothing down.
Does FHA mortgage insurance ever go away?
Only if you put at least 10% down, in which case the annual premium ends after 11 years. Below 10% down it runs for the life of the loan. The usual exit is refinancing into a conventional loan once you have 20% equity, which removes mortgage insurance entirely.
What credit score do you need for an FHA loan?
FHA's own floor is 580 for 3.5% down, and 500 with 10% down. Individual lenders commonly overlay a higher minimum, and down payment assistance programs frequently require 620 or 640. We will tell you which lenders are working at your actual score.
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