Buying Your First Home in Southwest Florida: Programs and Assistance

Are you looking to purchase your first home in Southwest Florida? There are a variety of programs and assistance available to help you make your dream a reality. In order to qualify for assistance, you must meet the income requirements according to the HUD income limits for Lee County, attend a homebuyer education class taught by a HUD-approved housing counseling agency, obtain a mortgage commitment from a lending institution, and must live in the home. The Lee County Housing Finance Authority provides down payment and closing cost assistance to those who purchase their first home through the FirstPlus Second DPA program. Program funds are allocated on a first-come, first-served basis and are funded on an ongoing basis. The municipal first-time homebuyer program offers zero percent (0%) deferred loans to first-time homebuyers buying a property in the city of Miami if they qualify according to their income category.

Florida Housing's first-time homebuyer program offers a 30-year fixed-rate loan through participating lenders across the state of Florida. The FHFC appears to be the only state organization offering help to first-time homebuyers in Florida. If you're not sure which program to choose for your first mortgage, your lender or real estate agent can help you find the right program based on your finances and homebuying goals. Compare downpayment assistance programs and special mortgage financing for first-time homebuyers available in Florida. If you're looking for assistance programs for homebuyers in Florida, a good place to start is with the Florida Housing Finance Corporation (FHFC), commonly known as “Florida Housing.” All of the organizations we have listed above should freely advise any first-time homebuyer in the state of Florida. If this is your first time buying a home in Florida and you can make a 20% initial deposit, you should get a conventional loan with a competitive interest rate.

Buying your first home can be an intimidating process, but with the right guidance and resources, it doesn't have to be. Take advantage of all the programs available to you in Southwest Florida and make your dream of homeownership come true.

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