FIRST-TIME HOMEBUYER INCENTIVES YOU NEED TO KNOW

First-time homebuyers have access to incredible incentives that can save tens of thousands of dollars — if you know where to look. Builders like Meritage Homes regularly offer promotions that stack on top of government programs.

Closing cost credits of $5,000 to $15,000 are common, especially on move-in ready inventory homes. These credits can cover your down payment assistance gap, prepaid items, or even buy down your interest rate for the first few years.

FHA loans with as little as 3.5% down are available on most new construction homes. Pair that with Florida's Hometown Heroes program — which offers up to $35,000 in down payment and closing cost assistance for essential workers — and you could be moving in with minimal cash out of pocket.

Rate buydowns are another powerful tool. A 2-1 buydown means your interest rate is 2% lower in year one and 1% lower in year two before settling at the permanent rate. On a $300,000 mortgage, that saves you over $400/month in the first year alone.

The key is working with an agent who understands both builder incentives and government programs — and knows how to stack them legally. That's where having representation matters most.