First-Time Home Buyer • Winter Garden / Orlando • Florida
First-Time Home Buyer Mortgage Guide — Florida
Buying your first home should feel exciting — not confusing. I’m Brandt Myers (“Brandt the Broker”), a local Winter Garden mortgage broker, helping first-time buyers in Winter Garden, Orlando, and across Florida compare loan options, understand payments, and get pre-approved with confidence.
What Counts as a First-Time Home Buyer?
In many cases, you’re considered a first-time home buyer if you’ve never owned a home — or you haven’t owned one in the last 3 years. That matters because it can unlock programs designed to make homeownership more accessible.
- Never owned a home before
- Haven’t owned in the last 3 years
- Buying a primary residence (most programs require owner-occupied)
Not sure if you qualify? I’ll confirm quickly and explain your options.
Fast Pre-Approval Checklist
To get a clean, strong pre-approval, we typically review:
- Most recent pay stubs + W-2s (or tax returns if self-employed)
- Bank statements (funds for down payment/closing)
- Basic credit review
- Your target price range + payment comfort zone
Not a Faceless Mortgage Company.
You’ll get direct guidance from me — clear answers, quick updates, and options from multiple lenders. My goal is simple: make the process easy to understand, efficient to navigate, and stress-free.
Best Loan Options for First-Time Buyers in Florida
FHA Loans (Most common for first-time buyers)
- As low as 3.5% down
- More flexible credit guidelines than many conventional options
- Great for buyers keeping extra cash reserves
Conventional Loans (Low down payment options)
- As low as 3% down for qualified buyers
- Mortgage insurance can be lower with strong credit
- Often a great fit if your credit and income are strong
VA Loans (Eligible Veterans & Active Duty)
- $0 down for eligible borrowers
- No monthly mortgage insurance
- One of the strongest home loan benefits available
If you already have a home picked out, I can run side-by-side options (FHA vs Conventional vs VA) to compare cash-to-close and payments.
Down Payment Breakdown (Real-World Examples)
Here’s a simple way to think about down payments. These are examples only — your exact cash-to-close depends on price, program, seller concessions, appraisal, and closing costs.
Example: $350,000 Purchase
- Conventional 3% down: $10,500
- FHA 3.5% down: $12,250
- VA 0% down (eligible): $0
Closing costs are separate — and can sometimes be negotiated with seller concessions.
Example: $450,000 Purchase
- Conventional 3% down: $13,500
- FHA 3.5% down: $15,750
- VA 0% down (eligible): $0
If you’re trying to conserve cash, we can compare options side-by-side.
How to Reduce Cash-to-Close
- Ask for seller concessions
- Explore down payment assistance
- Compare loan structures to balance payment vs cash
Common First-Time Buyer Mistakes (And How to Avoid Them)
Shopping Before Pre-Approval
Pre-approval helps you shop confidently and prevents surprises when it’s time to make an offer.
Focusing Only on Rate
Rate matters — but so do monthly payment, mortgage insurance, cash-to-close, and long-term strategy.
Making Big Credit Moves Mid-Process
Opening new accounts, financing furniture, or big bank transfers can cause underwriting delays.
Underestimating Insurance & HOA
Florida homeowners insurance and HOA dues can change the payment more than people expect.
Not Planning for Closing Costs
Closing costs vary — but we can plan ahead and potentially offset them with seller concessions.
Not Asking Questions
You should understand every step. I’ll explain everything clearly and keep you in the loop.
Your First Home Buying Steps (Simple Version)
Clear steps — no confusion — and a smooth closing.
Figure Out Your Budget
We’ll estimate payments and choose a comfortable monthly target before you start shopping.
Get Pre-Approved
So you can shop confidently and make stronger offers when you find the right home.
Close & Get Keys
I guide you through appraisal, underwriting, and closing prep so you’re never guessing.
Local Help Matters (Winter Garden / Orlando)
Florida homes can come with unique factors (insurance, HOAs, condo/townhome approvals, appraisal nuances, and fast-moving neighborhoods). Working with a local broker helps you avoid surprises and keep your deal moving.
First-Time Home Buyer FAQ
Do I need perfect credit to buy my first home?
No. Many first-time buyers qualify without perfect credit. The best program depends on your full profile (income, debts, down payment, and goals).
How much money do I really need upfront?
It depends on the loan program, purchase price, and whether you negotiate seller concessions. I’ll help you estimate realistic cash-to-close.
Should I get pre-approved before I start shopping?
Yes. A strong pre-approval helps you shop confidently and can make your offer stronger when you find the right home.
Can I buy a home with student loans?
In many cases, yes. We factor them correctly into your debt-to-income ratio and choose the best strategy for your approval.
What’s the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate. Pre-approval is more formal and usually includes documentation review—stronger for making offers.
Ready to Take the Next Step?
Whether you’re just browsing or ready to buy soon, I’ll help you map out the smartest path forward.
Serving Winter Garden, Orlando, and all of Florida.