10 First-Time Home Buyer Programs Central Florida Buyers Can Use Right Now

Twenty percent down is a myth for most first-time buyers. It always has been. Almost none of the programs below ask for anywhere near that much, and a few ask for nothing at all. The real challenge is figuring out which of these ten actually fits your job, your income, and the county where you are house hunting.

Central Florida buyers have it a little better than most of the state right now. Orange, Osceola, Lake, and Polk counties each stack their own local assistance on top of what the federal and state programs already offer. Here are ten programs open today to buyers in Orlando, Apopka, Clermont, Davenport, and Winter Garden. Below is what each one really requires, and where two of them will fight each other if you try to combine them.

Which down payment programs are open to first-time buyers right now?

Ten programs are active for Central Florida buyers as of August 2026. Some are federal loans that do not care what county you are buying in. One is a state grant that just reopened on July 13, 2026, with a fixed pool of money that will not last forever. Skim the table below for the short version, then read the sections after it for how each one actually plays out.

1. FHA loan

An FHA loan lets a buyer with a 580 credit score put down just 3.5%. Fall between 500 and 579, and you still qualify, just with 10% down instead. The FHA loan limit across Orange, Osceola, Lake, and Polk counties sits at $541,287 for 2026, the national floor set by HUD. You can check HUD's FHA mortgage limits lookup tool for the exact number in your county. That figure covers most homes in Apopka, Davenport, and Clermont without pushing anyone into jumbo territory. Sellers can also cover up to 6% of the purchase price in closing costs. That alone has closed more deals than people realize when cash is tight.

2. VA loan

If you served, this is usually the best deal on the table, full stop. A VA-backed loan lets eligible veterans, active-duty service members, and some surviving spouses buy with 0% down and no monthly mortgage insurance. First-time users with no down payment pay a one-time funding fee of 2.15% of the loan amount. Veterans with a service-connected disability skip that fee entirely. With full entitlement, there is no county loan limit. This works just as well for a starter home in Davenport as it does for something larger in Windermere.

3. USDA Rural Development loan

Most buyers never look into this one because they assume it only applies to farmland. It does not. A USDA loan finances 100% of the purchase price in eligible rural and suburban areas, with no down payment required. Large parts of Lake County outside Clermont's urban core qualify, along with sections of outer Polk County. Run any address through USDA's property eligibility map before you assume a home is out of range. Household income is generally capped near $119,850 for a one- to four-person household. That limit counts every adult in the home, not just whoever is on the loan. USDA charges an annual guarantee fee instead of monthly mortgage insurance, and it usually runs cheaper than FHA's.

4. Fannie Mae HomeReady

HomeReady asks for only 3% down, a full half point less than FHA. Qualifying income is generally capped at 80% of the area median, and a 620 credit score gets you in the door. The program also counts income from a co-borrower or a boarder living in the home. That is a real help for buyers splitting housing costs with a family member or roommate.

5. Freddie Mac Home Possible

Home Possible plays almost note for note like HomeReady. Same 3% down. Same 80% income cap. Mortgage insurance cancels once you reach 20% equity, same as its Fannie Mae cousin. The real split is credit score: most lenders want a 660 here, well above HomeReady's 620. What Home Possible does offer that HomeReady does not is a non-occupying co-borrower option. A parent can help you qualify without living in the home.

6. Florida Hometown Heroes Housing Program

This is the one worth dropping everything for if you qualify. Hometown Heroes gives up to $35,000 in down payment and closing cost help. It covers more than 50 eligible jobs, including teachers, nurses, first responders, childcare workers, and active-duty military. The assistance equals 5% of the loan amount, with a $10,000 floor and a $35,000 ceiling, structured as a 0% interest second mortgage. It is not forgivable. The full balance comes due when the home sells, the loan refinances, or the buyer stops living there full time. The 2026 cycle reopened on July 13 with $50 million in funding, and it runs first-come, first-served. Eligible buyers who sit on this one usually regret it.

7. Florida Assist

Florida Assist gives up to $10,000 in down payment and closing cost help as a 0% interest, deferred second mortgage. No monthly payment. The loan is only repaid when the buyer sells, refinances, or pays off the first mortgage. It pairs with an FHA, VA, USDA, or HFA Advantage first loan through a Florida Housing-approved lender. It requires a 640 minimum credit score plus a homebuyer education course. One catch worth knowing early: you cannot combine Florida Assist with Hometown Heroes on the same loan.

8. HFA Preferred and HFA Advantage PLUS second mortgage

This one rewards buyers who plan to stay put. The HFA Preferred and HFA Advantage PLUS program pairs a conventional loan with a second mortgage worth 3% to 5% of the loan. That balance forgives at 20% a year. Stay five years, and the entire balance vanishes. Nothing gets repaid. Sell or refinance early, though, and you owe back whatever has not yet been forgiven. This is not the program for someone planning to move again in two years.

9. Good Neighbor Next Door

Fifty percent off is not a typo. Good Neighbor Next Door is a HUD program for full-time teachers in grades pre-K through 12, law enforcement officers, firefighters, and EMTs. It lets them buy a HUD-owned home in a designated area for half price, with a down payment as low as $100 through FHA financing. The catch is inventory. HUD only lists homes it already owns through foreclosure, so availability in any one Central Florida ZIP code is thin and moves fast. Buyers also commit to living in the home as their primary residence for three years.

10. County down payment assistance programs

Orange, Osceola, Lake, and Polk counties each run their own SHIP-funded assistance on top of everything above. Most buyers never think to ask their county about it. Orange County's Down Payment Assistance Program has offered up to $30,000 in deferred assistance for income-qualified applicants. Osceola County's Purchase Assistance Program has offered up to $80,000 toward a home for residents who meet income, credit, and prior-ownership rules. Funding levels shift as county budgets get set each year. Confirm the current amount with the county housing office before you count on a specific figure.

How do you know which program actually fits your situation?

Start with your job and your credit score, not the dollar amount on the table. A teacher or nurse buying in Apopka might stack Hometown Heroes with an FHA first mortgage. A veteran buying in Clermont might skip down payment assistance entirely and use a VA loan instead. Zero down beats a second mortgage every time. A buyer purchasing in eligible parts of Lake County might qualify for USDA and never touch a down payment at all. Most of these programs cannot combine with each other. The right pick depends on which single program helps your specific loan most, not which one sounds most generous on paper. Several of our current entry-level listings under $300,000 in Winter Garden pair well with FHA or one of the state programs above.

As of 2026, the Erica Diaz Team has closed more than 1,447 homes across Central Florida and earned over 800 five-star reviews along the way. Our Central Florida buyer's agents work through these programs with local lenders every week. We know which lenders handle Florida Housing programs well. We know which ones move fast on Hometown Heroes, and which county offices are actually funded right now, not just funded on paper. Weighing a first home against a smaller starter property? Our current guide to buying in Oakland's small market shows how these programs play out outside the bigger cities too.

Program terms, funding availability, income limits, and loan limits come from HUD, the VA, USDA Rural Development, Fannie Mae, Freddie Mac, the Florida Housing Finance Corporation, and county housing offices as of August 2026. All of these change without notice, especially state and county funding pools that close once the money runs out. Some programs cannot be combined with each other. Eligibility depends on income, credit, property location, and occupation. Nothing here is financial, tax, or legal advice. Speak with a Florida Housing-approved lender and a licensed real estate agent to confirm what you qualify for before making an offer.