First-time buyers
Your first home in South Florida.
No jargon, no pressure. Here is exactly what it takes — the money you need, the programs that can help, and the order everything happens in.
What people get wrong
“You need 20% down.”
Many buyers close with 3% to 5% down on conventional loans, or 3.5% with FHA. VA loans can go to zero down. The 20% figure only avoids mortgage insurance — it is not a requirement.
“Perfect credit is required.”
FHA financing commonly starts around a 580 score. Stronger credit lowers your rate, but a middling score does not disqualify you.
“The buyer pays the agent.”
Compensation is negotiable and is discussed with you in writing up front, before you tour anything. You will never be surprised by it.
“Renting is always cheaper.”
Sometimes it is. We run the real numbers side by side — payment, taxes, insurance, HOA and maintenance — before you decide.
What you actually need up front
Down payment
3% - 5% typical on conventional, 3.5% on FHA, 0% on VA.
Closing costs
Roughly 2% - 5% of the price: lender fees, title, taxes, prepaid escrow.
Inspection
$300 - $600, plus wind mitigation and four-point reports if requested.
Appraisal
$500 - $700, typically paid to the lender during underwriting.
Homeowners insurance
South Florida runs higher than the national average — quote it early.
HOA / condo dues
Monthly, and part of what a lender counts against your qualification.
The path, step by step
- 01
Talk to a lender first
A pre-approval tells you your true budget and makes your offers credible.
- 02
Map your real monthly
Not just principal and interest — taxes, insurance, HOA and reserves.
- 03
Check assistance programs
County and state programs can cover part of your down payment or closing costs.
- 04
Search with criteria, not impulse
Flood zone, roof age, association health and resale all matter.
- 05
Offer, inspect, negotiate
We use findings to protect you rather than just to walk away.
- 06
Close and get keys
Final walkthrough, funding, and your first set of keys.
Assistance programs worth asking about
Florida Housing (Hometown Heroes, HFA programs)
State programs offering below-market rates and down payment assistance for eligible buyers, with priority categories for many essential-service professions.
Miami-Dade County assistance
County-administered down payment and closing cost help for income-qualified first-time buyers, subject to purchase price limits.
Broward County assistance
Similar county programs for Broward buyers, often paired with homebuyer education requirements.
FHA, VA and USDA financing
Lower down payment federal loan options. VA is available to eligible service members and veterans; USDA applies in designated rural areas.
Program availability, income limits and purchase price caps change regularly and are set by the administering agencies, not by Carlos Dardes or Florida Realty & Management Corp. Eligibility is determined by your lender and the program administrator.
Run your numbers
What would the monthly payment actually be?
Start around an entry-level South Florida price and adjust — taxes, insurance and HOA included.
Estimated monthly
$2,741
- Principal & interest
- $1,770
- Property taxes
- $321
- Insurance
- $350
- HOA
- $300
- Loan amount
- $280,000
Estimates only, for planning purposes. Actual figures depend on lender terms, condo/HOA assessments, flood and wind coverage, and closing costs.
Start with a conversation
First homes deserve more patience, not less.
Tell me your budget and where you need to be. I'll tell you honestly what is realistic, connect you with a lender if you need one, and we'll go from there.
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