First-Time Buyer Guide
Your first home in Orlando
Buying your first home is a big step, and the process is easier when you know what to expect. Here is a plain-English guide to the money, the steps and the Florida details that matter most.
Where to start
Six steps for first-time buyers
You do not need to have everything figured out before you begin. You just need to take the steps in a sensible order.
Know your numbers
Look at your income, monthly debts, savings and credit. Your credit score and debt-to-income ratio shape the loan programs you qualify for and the rate you are offered.
Get pre-approved
A lender reviews your finances and tells you what you can borrow. Pre-approval shows sellers you are serious and gives you a realistic budget before you fall in love with a home.
Plan for the cash you need
Beyond the down payment, budget for closing costs, the inspection, the appraisal and a cushion for moving and first-month expenses.
Look into assistance
Florida and local programs may help with your down payment or closing costs if you qualify. Ask your lender early, because some programs require their own steps and a homebuyer course.
Define your must-haves
We talk through commute, neighborhood, home type, HOA and CDD fees, and the monthly total, so the search is focused on homes that truly fit.
Search, offer and close
We tour homes, write a smart offer, use the inspection to understand what you are buying, and stay with you through closing.
Down payment
Often less than you think
The old rule of 20% down is not required for most buyers. Several common loan types allow much less. Programs and requirements change, so your lender will confirm what you qualify for.
FHA loans
Backed by the federal government and designed to be flexible. Buyers with qualifying credit can often put down as little as 3.5%.
Conventional loans
Some conventional programs for first-time or moderate-income buyers allow as little as 3% down. Putting 20% down avoids private mortgage insurance, but it is not required.
VA and USDA loans
Eligible veterans, service members and certain rural-area buyers may qualify for loans with no down payment. Eligibility and property rules apply.
Florida help
Assistance programs worth asking about
Some first-time buyers qualify for help with the down payment or closing costs. Funding comes in cycles and can run out, so ask a lender about current availability before you count on it.
- Florida Hometown Heroes. A state program that can provide a 0% deferred second mortgage of up to $35,000, equal to 5% of your loan, for eligible workers such as healthcare staff, teachers, first responders, law enforcement and military. It requires a credit score of at least 640, a homebuyer education course and a Florida Housing first mortgage. See the program page.
- Orange County down payment assistance. Orange County has offered help to income-qualified first-time buyers, but at last check it was not accepting new applications and was waiting on state funding. Check the county page for updates.
- Homebuyer education. Most assistance programs require a HUD-approved course. It is also a smart way to learn the process.
The full picture
Costs beyond the price
Closing costs
Lender fees, title charges, prepaid taxes and insurance. Your lender gives an itemized estimate early in the process.
Inspection
A few hundred dollars that can save you thousands. Ask about the roof, HVAC, plumbing and wind features.
Insurance
Wind and flood coverage can change the real cost of a home. Get quotes before you commit.
04HOA & CDD
Monthly dues and special assessments belong in your budget from day one.
After closing, remember to file for homestead to lower your property taxes and start your assessment cap.
Common questions
First-time buyer FAQ
How much do I need to buy my first home?
It depends on the price, the loan program and your finances. Plan for a down payment, closing costs, an inspection and some cash in reserve. A lender can give you a personalized estimate.
What credit score do I need?
Requirements vary by loan program. Some allow lower scores than many people expect, and a higher score can lower your rate. A lender can review your options before you start shopping.
Should I get pre-approved before looking?
Yes. It sets a realistic budget, shows sellers you are serious and speeds up the process when you find the right home.
How long does it take?
The search varies. Once an offer is accepted, closings commonly take about 30 to 45 days, depending on financing and the property.
Do I need a realtor?
You are not required to have one, but an agent guides your search, negotiates for you and helps you avoid costly surprises. For a first purchase, that support is valuable.
Is this financial advice?
No. This guide is general information. Program terms change, so confirm details with a lender or the program administrator.
Let's talk
Ready to take the first step?
Book a 30-minute conversation. No pressure, just clarity on where you stand and what comes next.