By Tim Singer
Buying your first home in Fort Lauderdale involves more than saving for a down payment and finding a lender. This checklist for first-time home buyers walks through the specific programs, requirements, and post-closing steps that genuinely affect your bottom line here.
Key Takeaways
- Broward County's Homebuyer Purchase Assistance Program offers up to $80,000, and up to $120,000 in Weston, as a 0% deferred second mortgage that forgives after 15 years.
- The City of Fort Lauderdale runs its own separate first-time buyer program offering up to $75,000, and it can often be combined with the county program.
- Hometown Heroes adds up to $35,000 for qualifying professions like teachers, nurses, firefighters, and law enforcement, and it can stack with local assistance too.
- Filing your homestead exemption promptly after closing activates Florida's Save Our Homes cap, protecting you from steep future tax increases.
Check Your Eligibility for Down Payment Assistance First
Before anything else, find out what assistance you actually qualify for. Fort Lauderdale offers some of the most generous local down payment programs in the state, and many buyers never realize how much is available.
What's Actually on the Table Here
- Broward County's Homebuyer Purchase Assistance Program offers up to $80,000 countywide, and up to $120,000 for properties in Weston, structured as a 0% interest deferred second mortgage
- The City of Fort Lauderdale runs a separate program offering up to $75,000 in down payment and closing cost assistance for eligible first-time buyers purchasing within city limits
- Hometown Heroes, a statewide program, adds up to $35,000 for qualifying professions including teachers, nurses, firefighters, law enforcement, and active military
- A first-time buyer purchasing a $510,000 home could combine county assistance with the city's program or Hometown Heroes, potentially covering the down payment and a meaningful share of closing costs before touching personal savings
Because these programs run on a first-come, first-served basis and funding can run out, checking your eligibility early rather than after you've found a home matters.
Know the Requirements That Come With These Programs
These programs come with real conditions attached, and understanding them upfront prevents a rejected application late in your homebuying timeline. Each program carries its own specific rules worth confirming early.
What to Expect From the Application Process
- Most programs require household income at or below 80% of the area median income, though some cities use different thresholds
- Buyers typically must contribute 3% of the purchase price themselves, with an exception for VA loan borrowers
- A homebuyer education course is required for most programs, so completing it early avoids delaying your closing timeline
- You must occupy the home as your primary residence through the program's affordability period, typically 15 years, or repayment can be triggered
Confirming these requirements with the specific program administrator before you're under contract helps avoid a last-minute scramble to meet a condition you didn't know existed.
Budget for What Assistance Doesn't Cover
Down payment assistance solves one part of the affordability equation, but it doesn't cover everything. Running the full numbers before you shop protects you from an unpleasant surprise closer to closing.
What Still Needs Its Own Line Item
- On a $510,000 home, a 3.5% FHA down payment comes to roughly $17,850, meaning Broward County's $80,000 program alone can cover the down payment with about $62,150 remaining for closing costs, prepaid items, or a rate buydown
- A comprehensive home inspection report is required under most assistance programs, so budgeting for this cost separately from your down payment matters
- Homeowners insurance in Florida can run considerably higher than buyers from other states expect, and flood insurance is often a separate policy entirely
- Getting a real insurance quote before you're deep into a contract helps you confirm the total monthly payment actually fits your budget, assistance programs included
Treating insurance and inspection costs as their own checklist items, rather than an afterthought, keeps your total budget realistic from the start.
File for Your Homestead Exemption the Moment You Close
Once you've closed, one final step protects your long-term costs as a homeowner. Missing this step, or filing late, can cost you real money for years afterward.
Why This Step Belongs on Every Checklist
- Florida's homestead exemption reduces your home's taxable value and activates the Save Our Homes cap, limiting future assessment increases to 3% a year regardless of market appreciation
- You must own and occupy the home as your primary residence by January 1 of the tax year, with the application due by March 1
- This exemption applies only to your genuine, single primary residence, so it won't apply if the home isn't where you actually live full-time
- Filing promptly after closing, rather than waiting, ensures you don't miss the window for that tax year's benefit
Adding this to your post-closing checklist protects a benefit that continues paying off for as long as you own the home.
Frequently Asked Questions
Can I combine multiple down payment assistance programs in Fort Lauderdale?
Often yes. Many first-time buyers stack Broward County's program with the city's program or Hometown Heroes, depending on eligibility for each.
Do I need perfect credit to qualify for these assistance programs?
No, though most programs require a minimum credit score around 640, with specific thresholds varying by program.
When should I file for my Florida homestead exemption?
As soon as possible after closing, since you must own and occupy the home by January 1 and apply by March 1 to receive that year's benefit.
Work With Someone Who Knows Every Step of Buying in Fort Lauderdale
I'm focused on providing you with the best results and service in the industry. I listen carefully to understand your real estate goals and work hard to create solutions that make sense for you. Whether you're new to the market or an experienced investor, I have the expertise, proven track record, and resources to help you achieve your goals.
As they say, real estate is about location, location, location, and my extensive knowledge of the Fort Lauderdale area helps me find the right home for you or the right buyer for your home. If you're checking off your first-time buyer checklist, I would love to help.
Connect with Tim Singer today.
As they say, real estate is about location, location, location, and my extensive knowledge of the Fort Lauderdale area helps me find the right home for you or the right buyer for your home. If you're checking off your first-time buyer checklist, I would love to help.
Connect with Tim Singer today.