Florida homebuyer guide · Serving Florida since 1997

How much money do I need to buy a home in Florida?

Yes, Florida buyers can buy with much less than 20% down.

See the low-down-payment options available and build a quick estimate based on the price range you are considering. FHA, Conventional, VA, gift funds, seller credits, and available assistance can all help reduce the amount you may need.

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Florida cash-to-close calculator

Build a quick estimate

Choose a home price and loan type, then add any credits or funds you expect to use. The estimate updates instantly.

  • Uses the program's typical minimum down payment
  • Lets you adjust estimated closing costs and prepaids
  • Subtracts credits, gifts, assistance, and earnest money
  • Shows the math instead of hiding it

Use 2% as a simple starting estimate. Your final figures will be based on the home, loan, and credits available when you are ready to move forward.

Estimated cash to close $22,000
Down payment$14,000
Estimated closing costs and prepaids$8,000
Credits, gifts, and assistance-$0
Earnest money already paid-$0

Estimate only. Actual figures vary by transaction.

Want help with your estimate?

Provide your basic contact info and a Florida mortgage expert will follow up to discuss the purchase options available to you.

The real calculation

The number you need has four parts

Buyers often ask about the down payment when they really want to know how much money must be available for closing.

1

Down payment

The portion of the purchase price you are not financing. Depending on eligibility and the program, the minimum may be 0%, 3%, 3.5%, 5%, or more.

2

Closing costs

Lender, appraisal, title, recording, settlement, and other charges tied to the transaction. Discount points, if chosen, also belong here.

3

Prepaids and escrow

Homeowners insurance, prepaid interest, and the initial tax and insurance deposits used to establish an escrow account.

4

Credits and money paid

Eligible seller or lender credits, gift funds, approved assistance, and your earnest-money deposit can reduce what remains due at closing.

Minimum down payment options

Your down payment may be smaller than you think

FHA, Conventional, and VA programs can make the upfront amount much lower than many buyers expect.

VA home loan

0% down

Eligible veterans, active-duty service members, and certain surviving spouses may qualify for VA financing with no down payment. A VA funding fee may apply, although some borrowers are exempt.

Conventional loan

As little as 3%

Certain conventional programs permit 3% down for qualified borrowers. Five percent down is another common starting point. Mortgage insurance usually applies below 20% down.

FHA loan

3.5% down FHA 100% financing available

Qualified buyers may use FHA financing with 3.5% down. FHA also permits eligible gift funds, and AAA Capital Funding offers qualifying FHA 100% financing options.

Example estimates

Three price points, using the same assumptions

Each example uses FHA's 3.5% minimum down payment and a 2% estimate for closing costs and prepaids.

$300,000 home
3.5% down$10,500
2% estimated costs$6,000
Estimated total$16,500
$400,000 home
3.5% down$14,000
2% estimated costs$8,000
Estimated total$22,000
$500,000 home
3.5% down$17,500
2% estimated costs$10,000
Estimated total$27,500

These figures do not subtract seller or lender credits, gift funds, assistance, or earnest money already paid.

Ways to lower the amount due

What can actually reduce the amount needed at closing

We will always be able to help you with the lowest down payment and closing costs available. Call us today to learn the best combination for your specific scenario.

Seller credits

The contract may provide for the seller to pay eligible closing costs, subject to the loan program's limits and the property's appraised value.

Lender credits

A lender credit can offset eligible costs. We have our very own 'Homebuyers Outreach' program that helps with home buyers closing costs, for example.

Gift funds

Many programs allow documented gift funds from an eligible donor. The donor, transfer, documentation, and permitted uses must follow program rules.

Down payment assistance

State, local, employer, and other programs may be available. Income limits, purchase-price limits, occupancy rules, and repayment terms vary.

Earnest money

Your deposit is generally credited back to you on the closing statement, reducing the remaining amount due rather than being paid twice.

A different closing date

Prepaid interest and escrow setup can change with timing. Moving the date may affect cash due, but it should fit the contract and the entire transaction.

Straight answers

Questions we hear all the time

Do I need 20% down to buy a house in Florida?
No. Qualified buyers may have options such as 0% down with an eligible VA loan, 3% down with certain conventional programs, or 3.5% down with FHA financing. Twenty percent down is one option, not a universal requirement.
What is the difference between my down payment and cash to close?
Your down payment is the part of the price you are not borrowing. Cash to close is broader. It includes the down payment, closing costs, prepaids, and escrow funding, minus eligible credits and money already paid.
Can the seller pay all of my closing costs?
Sometimes, but not automatically. The amount depends on the loan program, occupancy, down payment, contract, eligible charges, and appraised value. Seller credits generally cannot be used as cash back beyond permitted costs.
Can I use gift money for the down payment and closing costs?
Many loan programs allow gift funds from eligible donors. The lender will need documentation showing the donor, source, transfer, and that the money is a genuine gift rather than an undisclosed loan.
Does my earnest-money deposit count toward the money I need?
Yes. On a completed purchase, your earnest-money deposit is credited toward the total amount due at closing. It is not paid twice.
What does FHA 100% financing mean?
It generally combines an FHA first mortgage with eligible secondary financing or assistance intended to cover the required down payment. It is not the same as every cost being free, and qualification, program availability, and repayment terms apply.
How much money should I keep after closing?
Do not plan to empty your account just to close. Your loan may require reserves, and you will still have moving costs, repairs, utilities, furnishings, and normal emergencies. The right cushion depends on your payment, income stability, property, and comfort level.
Primary sources

Where the numbers come from

Program rules change. These official resources are the starting point, and your actual approval must be based on current underwriting requirements.

HUD Single Family Housing Policy Handbook U.S. Department of Veterans Affairs purchase loans Fannie Mae 97% loan-to-value options Consumer Financial Protection Bureau Loan Estimate guide

Want help with your estimate?

Use the calculator, send your estimate, or call us to discuss the Florida mortgage options available for your purchase.

Send my estimate Call 888-601-8344
888-601-8344 | 954-390-7994 | Text 954-816-8820
AAA Capital Funding, Inc. · NMLS #374739 · Florida Mortgage Broker MBR623
Jason J. Sarji · NMLS #374700 · Florida Mortgage Loan Originator LO5710 · Equal Housing Opportunity
This page provides general information and estimates. It is not a commitment to lend, an approval, or a Loan Estimate. Program availability and terms are subject to change.

Every file is different.

We will give you a straight answer based on your real numbers, even if the answer is no. Call 888-601-8344, under ten minutes, answered the same day. No application, no hard credit inquiry. Text 954-816-8820 if that's easier.

AAA Capital Funding, Inc. · NMLS #374739 · Jason J. Sarji, NMLS #374700