First Time Homebuyer ProgramFlorida Housing’s First Time Homebuyer Program (FTHB) offers 30-year fixed interest rate mortgage loans to first time homebuyers through its network of participating lenders and lending institutions. However, if you are not a first time homebuyer, you may still be eligible for this program if you are purchasing a home in a federally designated targeted area or are a qualified Veteran. This program uses income and purchase price limits to determine eligibility. Additionally, a potential homebuyer must complete a 6-8 hour face to face homebuyer education class, be able to qualify for a mortgage, and have a minimum 640 FICO score. Borrowers are required to contribute a minimum of $1000 of their own funds into the transaction. Gift Funds meeting Agency guidelines are allowed.