3.5% Down for First-Time Buyers

The FHA minimum — flexible credit, 580 score floor, and easy to pair with assistance.

Down Payment %

3.5000000000000004%

On a $400K Home

$14,000

Loan Amount

$386,000

Sample Price

$400,000

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NMLS# 1859012 · Equal Housing Lender

3.5% Down · First-Time Buyers

3.5% Down for First-Time Buyers in Florida

For first-time buyers, 3.5% down is usually about pairing the loan with Florida assistance. First-time buyers qualify for Hometown Heroes and SHIP help, which can cover most of the cash to close, and a soft-pull pre-approval makes your offer credible. We line both up before you tour homes.

Three and a half percent down is the FHA minimum, and it is the most forgiving low-down path for buyers with a 580 to 680 score. FHA looks past thinner credit and higher debt ratios than conventional, which is why it is the workhorse loan for Florida first-time buyers.

On a $400,000 home, 3.5% down is $14,000. FHA carries an upfront mortgage insurance premium and a monthly one, but the trade is real flexibility on credit and debt. With a 580 score you still hit the 3.5% minimum; below that you need 10% down.

FHA also stacks cleanly with Florida Hometown Heroes and SHIP assistance, which can cover most or all of that 3.5%. That combination is how many Florida buyers get into a home with almost nothing out of pocket.

3.5% Down at a Glance

✓FHA minimum down payment at 3.5% with a 580+ score.

✓Forgiving on credit history and debt-to-income ratio.

✓Stacks with Hometown Heroes and SHIP down payment help.

✓Below 580, the minimum rises to 10% down.

Read the full 3.5% down guide, or compare other loan types: FHA · Conventional · Florida.

3.5% Down Snapshot

3.5000000000000004%Down Payment %

$14,000On a $400K Home

$386,000Loan Amount

$400,000Sample Price

How It Works

Apply Online

5 min · soft credit pull only

Match Program

We shop lenders + assistance

Processing

Our team handles paperwork

Typically 14–21 days

FAQ

3.5% Down for First-Time Buyers Questions

Is 3.5% down good for first-time buyers in Florida?

Yes. First-time buyers can pair 3.5% down with Hometown Heroes (up to $35,000) and county SHIP grants, which often cover most of the cash needed. We map your exact cash to close and get you pre-approved first.

What credit score do I need for 3.5% down?

FHA requires a 580 middle score for the 3.5% minimum down payment. Between 500 and 579 you can still get an FHA loan but with 10% down. A higher score lowers your rate, so if you are close to a threshold we will tell you whether a small bump is worth it.

Can assistance cover the 3.5% FHA down payment?

Yes. Florida Hometown Heroes offers up to $35,000 and county SHIP programs add more. Stacked with an FHA loan, that assistance can cover the full 3.5% down payment and part of your closing costs. We line both up before you shop.

Keep Going

3.5% Down Guide 3.5% Down · FHA 3.5% Down · Conventional 3.5% Down · Florida All Down Payment Options Apply for Pre-Approval

3.5% Down for First-Time Buyers?

A licensed Florida mortgage broker who shops the loan and the assistance for you — 5-minute pre-approval, honest numbers.

(561) 300-0380

Figures are illustrative only and based on a sample purchase price. APR, payments, and assistance amounts vary by credit score, loan amount, income, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.