top of page

First Time Homebuyer Programs

Welcome, Florida first-time homebuyers! Embarking on the journey of homeownership can be both exciting and challenging, but fear not – Bennett Capital Partners is here to guide you every step of the way. As a trusted licensed Commercial and Residential mortgage brokerage company, we have over 22 years of industry experience and offer a comprehensive suite of First Time Homebuyer Programs tailored to your unique needs and goals.

Our extensive range of programs includes Conventional mortgages, Non-QM mortgages, and loans for Foreign Nationals. For those interested in purchasing a Condominium, we offer both Warrantable Condo Mortgages and Non-Warrantable Condos. Our FHA, VA, and USDA loan options provide low down payment choices for eligible buyers.

At Bennett Capital Partners, we understand the importance of homeownership education programs and affordable housing options. That's why we also offer Bank Statement Programs and Private Lending to help you make well-informed decisions on your path to homeownership.

Navigating the home buying process, especially as a first-time buyer, can be overwhelming. Our dedicated team of experts, including being the best mortgage broker, for your mortgage needs, is committed to providing exceptional service, personalized attention, and valuable resources, such as the best mortgage rates for first-time homebuyers. From understanding credit score requirements to the intricacies of the home buying process itself, we are here to support you every step of the way.

We pride ourselves on building lasting relationships with realtors and investors, which has been key to our success and growth. Our quick turnaround times and competitive rates make us the go-to choice for first-time homebuyers in Miami and beyond.

Ready to take the first step towards your dream home? Apply Now or Contact us today and let our team at Bennett Capital Partners help you turn your homeownership dreams into reality.

AdobeStock_59195393 Blog copy Blog.webp

Close with confidence.

First Time Homebuyer Program Experts

 

At Bennett Capital Partners Mortgage, we are committed to helping first-time homebuyers in Miami and throughout Florida achieve their real estate goals. With over 24 years of experience in the industry, our team of experts has developed long-standing relationships with private lenders and investors, giving our clients access to the funding they need to make their dream of homeownership a reality.

 

 

Extensive Network of Lenders

 

As mortgage brokers, we have access to a vast network of private lenders and banks that provide a variety of mortgage programs for first-time homebuyers. This allows us to find the best interest rates and terms to fit your financial situation.

 

Personalized Service

 

We believe in providing personalized service that meets the specific needs of each first-time homebuyer. Our team of experts works one-on-one with you to understand your financial situation and help you find the best mortgage program for your unique needs and budget.

 

Fast Closing Times & Competitive Rates

 

Our first time homebuyer solutions offer fast closing times, allowing you to secure financing for your first home purchase in Miami or anywhere in Florida quickly and efficiently. We work hard to ensure that you get the best deal possible when it comes to your mortgage, with competitive interest rates and terms that fit your budget.

 

Industry Knowledge

 

At Bennett Capital Partners Mortgage, our team of experts has extensive knowledge of the mortgage industry and can guide you through the complex process of obtaining a first-time homebuyer mortgage in Miami. We stay up-to-date on the latest industry trends and regulations to ensure that our clients receive the best possible service.

Our commitment to industry knowledge is evident in our About Us section, where you can learn more about our team of experts and their qualifications in the private lending industry. Our Founder, Philip Bennett, has over 20 years of experience with First Time Homebuyers and has earned a reputation as one of the most trusted mortgage brokers in Miami and throughout Florida. Visit our Founder page to learn more about his expertise and experience.

First Time Homebuyer Programs

AdobeStock_59195393 Blog copy Blog.webp

Close with confidence.

Discover helpful tips and tricks on mortgages by reading our blog posts:

Breaking Down The Basics: How Does A VA Loan Work? To learn more about how how a VA Loan works and how to get approved for one. Click here to read the full article

Your Ultimate FHA FAQ Guide to read more about the most common FHA FAQ that FHA borrowers ask. Click here to read the full article

Navigating the Fannie Mae Approved Condo List: How Bennett Capital Partners Can Help to learn how Bennett Capital Partners can help you with the Fannie Mae Approved Condo List. Click here to read the full article

Getting a Fannie Mae Homepath Property: Everything You Need to Know to learn how you can buy and finance a fannie mae foreclosure property. Click here to read the full article

Profit and Loss Mortgages: For Self-Employed Borrowers to learn more about profit and loss mortgages and how you do not need to use your tax returns. Click here to read the full article

Getting a Fannie Mae Homepath Property: Everything You Need to Know to learn more about how you can get a Fannie Mae foreclosure property. Click here to read the full article

Condo Loans: Everything You Need To Know to learn more about how this program can help you purchase your dream condo in Miami. Click here to read the full article

Home Possible® Mortgage Income Limits & Guidelines to learn more about how this program can help you purchase your dream home in Miami. Click here to read the full article

First Time Homebuyer Programs Insights

AdobeStock_29816439 Blog copy Blog.webp

Close with confidence.

The Benefits of Working with Bennett Capital Partners, Your Local Miami Mortgage Broker

If you're in the market for a new home, look no further than Bennett Capital Partners. Our personalized service, extensive network of lenders, and fast and efficient process set us apart from traditional banks and lenders. We take the time to understand your unique financial goals and tailor mortgage solutions to fit your specific situation. With our network of lenders, we can offer you more options and find the best rates and terms for your mortgage. Plus, our quick pre-approval process gives you the confidence to shop for your dream home.

 

Don't miss out on the benefits of working with Bennett Capital Partners. Click the link to learn more!

Mortgage Broker Vs Loan Officer: Why Brokers Are Better

 

If you're deciding between a mortgage broker and a loan officer, this blog post explains why mortgage brokers, especially those at Bennett Capital Partners, might be the better choice. We break down the key differences and advantages of working with a mortgage broker. Unlike loan officers, who are limited to their bank's loan products, mortgage brokers have access to a wide range of loans from different lenders. This flexibility means you can find a loan that fits your needs perfectly.

 

Read our article, "Mortgage Broker vs. Loan Officer: Why Brokers Are Better", to discover how a mortgage broker can save you time and money while providing personalized service throughout your home-buying journey.

 

Top Local Mortgage Brokers in Miami: Bennett Capital Partners Mortgage

If you're looking for a mortgage broker in Miami, Bennett Capital Partners Mortgage is one of the top choices. This blog post explains why they are a great option and what services they offer. It covers the benefits of choosing Bennett Capital Partners, such as their over 20 years of experience in Miami's mortgage market and their range of mortgage services. The post also highlights their expertise in working with first-time homebuyers and real estate investors, offering customized guidance and flexible financing options.

Check out "Top Local Mortgage Brokers in Miami: Bennett Capital Partners Mortgage" to learn more about how they can help you with your home-buying or refinancing journey.

 

First Time Homebuyer Programs FAQ
Quick Navigation - Click the link below to jump to that section..

Anchor 1
Anchor 2
Anchor 3

Understanding First Time

Homebuyer Programs

 

What is a first-time homebuyer program?

 

A first-time homebuyer program is a type of assistance or incentive provided to individuals who are purchasing a home for the first time. These programs are designed to make the home buying process easier and more affordable for first-time buyers, who may face challenges such as lack of savings, high housing prices, and student debt.

Some common features of first-time homebuyer programs include:

  • Down payment assistance: Programs that offer grants or loans to help buyers cover the down payment on their home.

  • Low down payment options: Programs that allow buyers to put down a smaller percentage of the home's purchase price as a down payment.

  • Closing cost assistance: Programs that help cover the closing costs associated with purchasing a home.

  • Education and counseling: Programs that provide educational resources and counseling to help first-time buyers navigate the home buying process and make informed decisions.

  • Tax credits: Programs that offer tax credits to first-time homebuyers to help reduce the cost of homeownership.

 

First-time homebuyer programs may be offered by federal, state, or local government agencies, as well as by non-profit organizations and private companies. The specific eligibility requirements, benefits, and terms of these programs can vary depending on the provider and the location.

Who is eligible for a first-time homebuyer program?

The eligibility requirements for first-time homebuyer programs can vary depending on the program and the lender. However, generally speaking, first-time homebuyer programs are designed for individuals who have not owned a home in the past three years. Other common eligibility criteria for first-time homebuyer programs may include:

1.) The homebuyer must be a U.S. citizen or a legal resident.
2.) The homebuyer must meet certain income requirements.
3.) The homebuyer must attend a homebuyer education course.
4.) The home being purchased must meet certain criteria, such as being the buyer's primary residence.

 

It's important to note that there may be additional eligibility requirements depending on the specific first-time homebuyer program. It's best to check with the lender or program provider to determine if you qualify.

 

 

What kind of financial assistance is available through first-time homebuyer programs?

 

First-time homebuyer programs offer a range of financial assistance to help individuals and families achieve their goal of homeownership. The specific types of assistance available can vary depending on the program and the location, but some common examples include:

  • Down payment assistance: Many first-time homebuyer programs offer grants or loans to help cover the down payment, which is typically a significant hurdle for new buyers. Some programs may offer assistance in the form of a forgivable loan, meaning the debt is forgiven after a certain period of time or if the borrower meets certain conditions.

  • Closing cost assistance: Closing costs can add up quickly, often totaling several thousand dollars. First-time homebuyer programs may provide grants or loans to help cover these costs, which can include fees for the loan application, home appraisal, and title search.

  • Reduced interest rates: Some programs may offer reduced interest rates on mortgages or loans to help make homeownership more affordable for first-time buyers. These rates may be fixed or adjustable and may be available for a limited time or for the life of the loan.

  • Tax credits: In some cases, first-time homebuyers may be eligible for tax credits that can help reduce their overall tax burden. For example, the Mortgage Credit Certificate (MCC) program allows buyers to claim a tax credit equal to a percentage of their mortgage interest each year.

  • Other assistance: Depending on the program, additional types of assistance may be available, such as help with credit counseling or homebuyer education.


It's important to note that the availability of these types of assistance can vary depending on the program and the location. In addition, some programs may have income or credit requirements, so it's important to research the specific eligibility criteria before applying. Working with a trusted mortgage broker such as Bennett Capital Partners can help you navigate the many first-time homebuyer programs available and find the best option for your unique financial situation.

Can I still use a first-time homebuyer program if I have bad credit?

 

First-time homebuyer programs can be a great resource for those looking to buy their first home, but they typically require a minimum credit score. While bad credit can make it harder to qualify for a loan, it doesn't necessarily mean you're ineligible for a first-time homebuyer program. Here are a few things to keep in mind:

  • Each program has its own eligibility requirements, so it's important to research the specific program you're interested in to see what credit score is required.

  • Some programs may allow for lower credit scores if you can provide a larger down payment or have a cosigner.

  • It may be helpful to work with a credit counselor or financial advisor to improve your credit score before applying for a first-time homebuyer program.

  • If you're unable to qualify for a first-time homebuyer program due to bad credit, there may be other options available such as alternative loan programs or assistance from local or state government programs.


In summary, having bad credit can make it harder to qualify for a first-time homebuyer program, but it's not always a disqualifier. It's important to research the specific program you're interested in, work to improve your credit score, and explore other options if necessary.

Can I use a first-time homebuyer program to buy any type of home?

 

First-time homebuyer programs typically have certain restrictions on the types of homes that can be purchased with their assistance. These restrictions may vary depending on the program and the state or local government that is providing the assistance.

In general, first-time homebuyer programs may have restrictions on the following:

  • The maximum purchase price of the home

  • The type of property (e.g. single-family home, condominium, townhouse)

  • The location of the property (e.g. in a certain neighborhood or designated area)

  • The condition of the property (e.g. must meet certain safety or health standards)


It's important to carefully review the guidelines and requirements of any first-time homebuyer program you are considering to determine if the type of home you are interested in purchasing is eligible for assistance. Working with a reputable mortgage broker, such as Bennett Capital Partners, can help you navigate these restrictions and find a program that is a good fit for your home buying goals.

To learn more about our First Time Homebuyer programs and to speak with one of our experts, click on our "Apply Now" link or fill out our "Quick Quote" form to receive a pre-approval request:

Apply Now: Click here to fill out our online application and get started on your first time homebuyer mortgage approval process.

Quick Quote: To receive a pre-approval request, click here and fill out our quick quote form. Our team of experts will contact you shortly to discuss your financing options and help you find the right loan solution for your real estate purchase in Miami.

Anchor 4
Anchor 5
Five Stars

Alex S. 

Philip was highly recommended to me and he did not disappoint. He was incredibly helpful and honest throughout the entire process, getting us the best program that matched our needs. We really didn't think we had a chance and luckily Philip …

What Our Clients Say

bottom of page