The Federal Housing Authority guarantees mortgages, especially for first time and special needs buyers. FHA loans require smaller down payments than conventional loans, but also involve additional fees and home inspections. FHA loans require more approvals so can take longer, delaying closing. Florida offers several programs for buyers, including a first time buyers program. The City of Orlando offers help for buyers with certain circumstances and buying within certain neighborhoods. Some employers offer down payment assistance for employees who buy homes within walking distances of their workplaces. Ask the human resources department if your employer offers such a program. Usually, such programs offer $5,000 to $10,000 in a down payment grant. If you sell the house before a certain amount of time - say, five years of owning it - you have to pay back part or all of the grant. But if you stay in the house long enough, the down payment grant becomes part of your home equity.
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