HomeZero combines a 96.5% first mortgage with a 3.5% or 5% second loan covering your down payment and most closing costs. Unlike Hometown Heroes and county DPA programs, HomeZero has no income limits and no first-time buyer requirement. Buy your Florida home without saving for years.
Check HomeZero Eligibility
The average Florida first-time buyer takes 7+ years to save a 20% down payment. HomeZero compresses that to zero. Buy now, build equity through appreciation.
96.5% first mortgage + 3.5% or 5% second loan covers down payment AND closing-cost assistance. Combined with seller concessions, you can close with literally $0 out of pocket.
Unlike Hometown Heroes, county DPA, or Bond programs (all income-capped), HomeZero accepts buyers at any income level. High earners denied by other DPA can use HomeZero.
Most down payment assistance programs require first-time buyer status (haven’t owned in 3 years). HomeZero accepts repeat buyers too — useful for Florida relocations and step-up purchases.
600 minimum FICO and DTI up to 57% with compensating factors. More flexible than conventional (620+ FICO, 43–45% DTI) and matches FHA flexibility while eliminating the down payment burden.
Two loans, one closing, zero down. Here are the mechanics most buyers don’t hear about until they’re mid-application.
HomeZero combines two loans at one closing: First mortgage = 96.5% of purchase price (looks like an FHA loan with similar pricing and MIP). Second mortgage = 3.5% or 5% of purchase price, covers down payment and most closing costs. Two structures available: Repayable (you pay both monthly) or Forgivable (second is forgiven after you live in the home for a set period, typically 3–5 years).
Single-family residences, planned unit developments (PUDs), townhomes, warrantable condos, double-wide manufactured homes, and 1–2 unit properties (you must live in one unit). Ineligible: second homes, investment properties, deed-restricted manufactured homes, co-op manufactured homes, boarding houses, hotels/motels/B&Bs, and any property with commercial use.
HomeZero plays well with other programs. You can combine with: seller concessions (up to 6% of purchase price for closing costs and prepaid items), gift funds from family (for reserves or additional costs), and even some Florida county DPA programs as third-position liens. Florida Hometown Heroes typically isn’t stackable but can be an alternative if you qualify.
At least one borrower must complete an approved homebuyer education course before closing. Courses run 4–8 hours, typically completed online (Framework, Hometown Heroes-approved providers, or HUD-approved counselors). Cost: $75–$100 per borrower. Plan for this 2–4 weeks before your target closing date so the certificate is on file at underwriting.
Want to see if you qualify for HomeZero on your target Florida home? We’ll run the numbers and quote you within 24 hours — no obligation, no hard credit pull.
Check My EligibilityFour ways to buy Florida real estate with zero or near-zero down. Each has different eligibility and trade-offs.
| HomeZero | VA Loan | USDA | FHA + DPA | |
|---|---|---|---|---|
| Down Payment | $0 | $0 (eligible vets) | $0 | $0 (3.5% covered by DPA) |
| Min FICO | 600 | 580 (lender typical) | 640 | 580 |
| Max DTI | 57% | 50%+ | 46% | 56.9% |
| Income Limit | None | None | 115% of area median | Varies by DPA program |
| First-Time Buyer Required? | No | No | No | Usually yes |
| Property Eligibility | Most primary residences | Most primary residences | Rural/suburban only | Most primary residences |
| Special Requirement | Homebuyer education | Military eligibility | USDA-eligible area | First-time buyer status |
| Best For | Anyone w/ 600+ FICO, no down | Veterans, active military | Rural buyers | First-time low-income buyers |
Standard timeline plus homebuyer education completion. We coordinate every step so nothing delays your closing.
Confirm credit score (600+), DTI estimate, target Florida market, and property type. We pre-screen for HomeZero vs alternatives in 24 hours.
Submit income, asset, and credit docs. Pre-approval letter within 24–48 hours showing your max purchase price under HomeZero structure.
Complete the required online homebuyer education course (4–8 hours, $75–$100). Submit certificate to file.
Shop with confidence. Negotiate seller concessions up to 6% to further reduce your out-of-pocket cost at closing.
Two loans close simultaneously: 96.5% first + 3.5%/5% second. Sign once, get your keys, move in.
Higher payment, mortgage insurance, zero equity at closing. The trade-off is buying now versus saving for years. Know what you’re committing to.
The questions Florida zero-down buyers ask most. Don’t see yours? Ask Alex directly.
Alex Doce has structured HomeZero loans for first-time buyers, recent transplants, repeat buyers stepping up, and high earners denied by income-capped DPA programs. Send us your credit score and target Florida market — we’ll confirm HomeZero eligibility and quote your monthly payment. No obligation, no hard credit pull.
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