The Florida home buying process at a glance
The closing date is whatever your contract says, and a financed purchase needs enough time for the appraisal, underwriting and insurance. Before the contract comes the planning: budgeting, pre-approval and the search. The steps below follow the order they happen in.
| Stage | Steps | What decides the timing |
|---|---|---|
| Before you search | 1 to 4: budget, credit, pre-approval, assistance | Your savings and paperwork |
| Searching | 5 to 7: area, agent, checks on each home | Inventory in your price range |
| Under contract | 8 to 11: offer, inspections, insurance, appraisal and title | The contract's inspection and loan approval periods |
| Closing and after | 12: closing, keys and homestead | The closing date; homestead by March 1 |
First-time buyers should also read the first-time homebuyer guide, which covers assistance repayment in more depth.
Before you search: budget, credit and pre-approval
Step 1: Set a monthly budget that includes Florida's extra costs
The loan payment is only part of the cost. Add property tax, homeowners insurance, flood insurance if needed, and HOA, condo or CDD fees. Here is the math on Zillow's typical Florida home value of $375,470 in August 2026, at Freddie Mac's 30-year average of 7.03% (September 24, 2026):
| Down payment | Loan | Principal and interest a month |
|---|---|---|
| 3.5% ($13,141) | $362,329 | $2,417.89 |
| 10% ($37,547) | $337,923 | $2,255.02 |
| 20% ($75,094) | $300,376 | $2,004.46 |
Property tax on the same home at the City of Tampa's 2025 rates, with the 2026 homestead exemption, is about $6,598 a year, or $550 a month: ($375,470 − $25,000) × 6.34 ÷ 1,000 for schools plus ($375,470 − $51,411) × 13.5028 ÷ 1,000 for everything else. Your county's rate may be higher or lower; see the property tax guide. Get insurance quotes on the actual address before you commit, because premiums vary with the roof, age and location.
Step 2: Check your credit and debts
Minimum scores depend on the loan. FHA allows maximum financing with a credit score of 580 or higher, and caps the loan at 90% of value for scores from 500 to 579 (HUD Handbook 4000.1). Fannie Mae's minimum for manually underwritten fixed-rate loans is 620, though its automated system has no set minimum. Florida Housing's first mortgage programs need 640. Lenders also look at your debt-to-income ratio: all monthly debt payments divided by gross monthly income, with limits that vary by loan (Consumer Financial Protection Bureau).
Step 3: Get pre-approved
A pre-approval means a lender has checked your income, assets and credit and will state a loan amount in writing. Sellers expect one with any financed offer. Compare loan estimates from at least two lenders on the same day, since rates move daily.
Step 4: Check assistance programs
Florida Housing Finance Corporation offers down payment help through participating lenders, including FL Assist (up to $10,000, 0% and deferred) and the Hometown Heroes program for eligible workers. Its homebuyer programs require a first-time buyer, meaning you have not owned and occupied a primary residence in the last three years, plus approved homebuyer education and county income and price limits. Counties and cities run their own programs too.
Searching: where, with whom and what to check
Step 5: Choose an area on the numbers
Florida prices vary widely. Zillow's typical values in August 2026 ranged from $285,103 in Jacksonville to $580,866 in Miami among the largest cities. The location guides compare values, rents and costs city by city, and the best places to live ranking sets out the data side by side.
Step 6: Sign a buyer agreement with an agent
Since August 17, 2024, buyers working with a Realtor sign a written agreement before touring homes, stating what the agent will be paid. Under Florida law the agent is presumed to be a transaction broker unless you agree in writing to a single agent relationship (section 475.278). The commission guide explains who pays and how to negotiate.
Step 7: Check every home for Florida-specific costs
- Flood zone and elevation. Look up the FEMA flood zone and ask whether the seller has an elevation certificate. See the flood zone guide.
- Roof age and wind protection. These drive insurance. See the wind mitigation guide.
- HOA, condo and CDD charges. Read the tax bill for CDD assessments, and for a condo read the milestone inspection and reserve study summaries; see buying a condo in Florida.
- The seller's tax bill. Florida law requires a disclosure warning that you should not rely on the seller's taxes, because a sale triggers reassessment (section 689.261).
Under contract: offer, inspections, insurance and title
Step 8: Make an offer on a Florida contract
Most Florida resale offers use the Florida Realtors and Florida Bar residential contract, in a standard version or an "AS IS" version. The contract sets the price, the escrow deposit, the financing deadline, the inspection period and who pays which closing costs. Several disclosures come with it:
- The radon gas notice required by section 404.056(5).
- The property tax disclosure summary (section 689.261).
- The seller's flood disclosure (section 689.302).
- An HOA disclosure summary if the home is in a mandatory association. Without it, you can cancel within 3 days of receiving it or before closing, whichever comes first (section 720.401).
- For a condo resale, the association documents, and you can cancel within 7 days, excluding weekends and holidays, after receiving them (section 718.503).
The seller disclosure guide lists the rest.
Step 9: Use the inspection period
Book a general home inspection early. For an older home, ask your insurer whether it needs a four-point inspection of the roof, electrical, plumbing and HVAC, and whether a wind mitigation report could lower the premium. On the AS IS contract, you can cancel for any reason during the inspection period; on the standard contract, the seller's repair obligations are set by its terms, so read them before you sign. The inspection checklist and the four-point inspection guide cover what to book.
Step 10: Bind homeowners and flood insurance
Your lender will not fund without proof of insurance. Shop quotes as soon as you are under contract, using the inspection reports. If the home is in a high-risk flood zone, expect the lender to require flood insurance, and consider it even where it is optional. See the homeowners insurance guide.
Step 11: Appraisal, loan approval and title
The lender orders an appraisal, and if it comes in low you can renegotiate, pay the difference or use the contract's financing terms. A title company or attorney searches the title, orders a survey if needed and issues title insurance. Title insurance premium rates in Florida are set by rule of the Office of Insurance Regulation (rule 69O-186.003, Florida Administrative Code).
Closing and after
Step 12: Close, then file for homestead
Your lender sends a closing disclosure a few days before closing; compare it line by line with your loan estimate. Bring certified funds or wire them only after confirming the instructions by phone with the title company, since wire fraud targets closings. At closing you sign the note and mortgage, and the title company records the deed. Buyers who finance usually pay the mortgage doc stamps of 35 cents per $100 of the loan and intangible tax of 0.2%: $1,760 on a $320,000 loan (see the doc stamps guide). The closing costs guide works through a full buyer statement.
After closing: the homestead exemption
If the home is your permanent residence on January 1, file for the homestead exemption with the county property appraiser by March 1. It takes up to $51,411 off the taxable value for 2026 and caps future assessment increases.
Moving from another state
New residents need a Florida driver license and vehicle registration, and should update voter registration and the address on their tax return. Those are also the documents the property appraiser checks for homestead.
How much money do you need to make to buy a house in Florida?
It depends on the price, down payment, rate and your other debts, but you can estimate it. Using the typical Florida home above with 10% down, principal and interest of $2,255.02 plus about $549.81 in property tax comes to $2,804.83 a month before insurance and any association fees. If you aim to keep housing at about 30% of gross income, a common budgeting guideline rather than a lender rule, that needs $2,804.83 ÷ 0.30 = $9,349 a month, or about $112,193 a year. Insurance, HOA or CDD fees raise that figure.
Can I buy a house if I only make $20,000 a year?
At 30% of income, $20,000 a year allows about $500 a month for housing. At 7.03%, $500 a month in principal and interest alone supports a loan of about $74,927, before tax and insurance. That is far below typical Florida prices, so buyers at that income usually rely on a co-borrower, a large down payment, local assistance programs, or a manufactured home or small condo. Talk to a HUD-approved housing counselor about programs in your county.
What does my credit score need to be to buy a $250,000 house?
For an FHA loan, 580 or higher allows the minimum 3.5% down: $8,750 on $250,000, leaving a loan of $241,250 and about $1,610 a month in principal and interest at 7.03%. From 500 to 579, FHA caps the loan at 90%, so you would need $25,000 down. A conventional loan generally needs 620 or more, and Florida Housing's programs need 640.
What is the 3-3-3 rule for buying a house?
It is an informal budgeting rule of thumb that circulates online in several versions, not a lender, legal or Florida requirement. What lenders actually check is your credit score, debt-to-income ratio, cash for the down payment and closing costs, and reserves. Use your own numbers, including Florida insurance and tax, rather than a rule of thumb.
Common questions
How much money do you need to make to buy a house in Florida?+
On Zillow's typical Florida value of $375,470 (August 2026), with 10% down at 7.03%, principal and interest is about $2,255 a month, plus roughly $550 in property tax at City of Tampa rates with homestead. Keeping that at 30% of gross income needs about $112,000 a year, before insurance and any HOA or CDD fees.
What credit score do I need to buy a house in Florida?+
It depends on the loan. FHA allows 3.5% down with a score of 580 or higher, and 10% down from 500 to 579. Fannie Mae's minimum for manually underwritten fixed-rate loans is 620. Florida Housing Finance Corporation's first mortgage and down payment programs require 640. Lenders can set higher minimums of their own.
Can I buy a house in Florida with 3.5% down?+
Yes, with an FHA loan if your credit score is 580 or higher, under HUD's Handbook 4000.1. On a $250,000 home that is $8,750 down, and on Zillow's typical Florida value of $375,470 it is about $13,141. You also need cash for closing costs, and FHA loans carry mortgage insurance. Florida Housing's assistance can help with both.
What disclosures will I get when buying a Florida home?+
Expect the radon gas notice, a property tax disclosure warning you not to rely on the seller's taxes, and the seller's flood disclosure. In an HOA community you get a disclosure summary and can cancel within 3 days if it arrives late. A condo resale buyer can cancel within 7 business days of receiving the association documents.
What do I do after I buy a house in Florida?+
File for the homestead exemption with your county property appraiser by March 1 if the home is your permanent residence on January 1. Update your driver license, vehicle registration and voter registration to the new address, keep your closing statement and improvement receipts for tax purposes, and check your first tax bill in November.
What is the 3-3-3 rule for buying a house?+
It is an informal rule of thumb that appears online in several versions. It is not a lender guideline or a legal requirement. Lenders qualify you on your credit score, debt-to-income ratio, cash to close and reserves, and in Florida your budget should include insurance, property tax and any HOA or CDD fees.
Sources
- Zillow Research: Home Value Index, Florida and cities, August 2026
- Freddie Mac: Primary Mortgage Market Survey
- HUD: Single Family Housing Policy Handbook 4000.1
- Fannie Mae Selling Guide: B3-5.1-01, general requirements for credit scores
- Consumer Financial Protection Bureau: What is a debt-to-income ratio?
- Florida Housing Finance Corporation: Homebuyer overview
- National Association of Realtors: Consumer guide to written buyer agreements
- Florida Statutes: section 475.278, brokerage relationships
- Florida Statutes: section 404.056, radon gas notification
- Florida Statutes: section 689.261, property tax disclosure
- Florida Statutes: section 689.302, flood disclosure
- Florida Statutes: section 720.401, HOA disclosure summary
- Florida Statutes: section 718.503, condominium disclosure prior to sale
- Florida Administrative Code: rule 69O-186.003, title insurance rates
- Hillsborough County Property Appraiser: Final 2025 millage rates
- Florida Department of Revenue: Additional Homestead Exemption Adjustment (revised January 2026)