First Time Home Buyer Programs

There are still many great First Time Home Buyer Programs available today, some with 100% financing options and some with zero down payment.

Most programs require that the borrower has decent credit, and must have a stable job with documentable income.

Here is a breakdown of things you need to be prepared to provide:

Income and Job History:

You must have stable income that can be documented. This means 2 years in the same line of work with no significant unexplainable gaps. If you are a W2 employee of a company, you will need to supply 2 years of W2s as well as 30 days’ worth of paystubs. If you receive commission income or bonuses, the underwriter will take a 2-year average of those amounts for qualifying.

Self-employed individuals will have to supply 2 years of tax returns.

We can help you determine if you have enough income to qualify and how much home you can afford.


Even if you are applying for a First Time Home Buyer Program that doesn't require a down payment or the down payment is financed, you will need to have money for closing costs; unless, you are working with a seller who has agreed to pay your closing costs. You may also be required to have a month or two worth of mortgage payments for a reserve account.


Generally speaking, your credit score must be above 620 for most conventional loan programs, and you must have a clean credit history for the past 12 months. If your score is below 620, we may still be able to help you as we do have loan programs that allow a lower credit score. We can also help you by providing you tips on how to improve your score.

Common First Time Home Buyer Programs:

Some of the more common First Time Home Buyer Programs are: FHA (3.5% down payment), VA (0% down payment), and USDA (0% down payment).

There are also down payment assistance programs that can help if you do not have enough for a down payment.

Florida’s First Time Home Buyer Mortgage

To learn more about first time home buyers’ mortgages in Florida call us by phone at 904-514-6969 or via email at

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