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New Construction loans in Florida

Quick answer

Buying a newly built home in Florida uses a standard FHA (3.5% down), conventional (3%–5%), VA or USDA (0%) purchase loan; building your own uses a construction-to-permanent loan. On a $325,000 home, 3.5% down is about $11,375, and builder incentives are capped by each program.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

New Construction loan snapshot for Florida

ItemEstimate
Minimum down payment0%–20% (by loan program)
Minimum credit score580–680 (by loan program)
Typical FL home value$325,000
3.5% down on typical home$11,375
20% down on typical home$65,000
Avg. effective property tax0.79%/yr (~$213/mo)
Income for typical home (31% rule)$101,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Florida programs pair with New Construction loans?

  • Florida Assist: A 0% deferred second mortgage for down payment and closing costs, repaid when you sell, refinance or pay off the first loan.
  • HFA Preferred/Advantage PLUS: A first mortgage paired with a forgivable second mortgage based on a percentage of the loan.
  • Hometown Heroes: When funded, assistance for eligible full-time workers in Florida-based occupations.

Details and current limits: Florida Housing Finance Corporation.

Buying a new home from a builder vs. building your own: what's the difference?

Most buyers of new homes buy from a production or spec builder: the builder owns the land, builds the house and sells it to you. You finance it with a normal purchase mortgage that closes when the home is complete and has a certificate of occupancy. If the home isn't finished yet, the builder's contract usually sets a deposit and an estimated completion date, and your rate lock has to cover the wait.

Building your own (a custom home on land you own or are buying) works differently. Because there's no finished house to secure a regular mortgage, lenders use a construction loan that pays the builder in stages (draws) as work is inspected, then either converts to a permanent mortgage or is paid off by one.

Construction-to-permanent (one-time close) vs. two-time close

One-time close reduces paperwork and protects you if rates or your finances change during the build. Two-time close can offer more lender choice and lets you shop the permanent mortgage after the home is done.

FeatureOne-time closeTwo-time close
ClosingsOne — construction and mortgage togetherTwo — construction loan, then a separate mortgage
Closing costsOne setTwo sets
RatePermanent rate usually set at the first closingMortgage rate set when you close the second loan
Re-qualifyingNo second approvalYou must qualify again after the build
ProgramsFHA, VA, USDA and conventional (Fannie Mae/Freddie Mac) versions exist; fewer lenders offer themWidely available; construction loan is often interest-only

New Construction loans in Florida cities

New Construction in JacksonvilleNew Construction in MiamiNew Construction in TampaNew Construction in OrlandoNew Construction in St. PetersburgNew Construction in HialeahNew Construction in Port St. LucieNew Construction in Cape CoralNew Construction in TallahasseeNew Construction in Fort LauderdaleNew Construction in Pembroke PinesNew Construction in HollywoodNew Construction in GainesvilleNew Construction in MiramarNew Construction in Coral SpringsNew Construction in Lehigh AcresNew Construction in Palm BayNew Construction in West Palm BeachNew Construction in Spring HillNew Construction in ClearwaterNew Construction in LakelandNew Construction in BrandonNew Construction in Pompano BeachNew Construction in Miami GardensNew Construction in RiverviewNew Construction in DavieNew Construction in Boca RatonNew Construction in SunriseNew Construction in DeltonaNew Construction in Palm CoastNew Construction in PlantationNew Construction in Fort MyersNew Construction in AlafayaNew Construction in Deerfield BeachNew Construction in Town 'n' CountryNew Construction in MelbourneNew Construction in LargoNew Construction in Pine HillsNew Construction in The VillagesNew Construction in Miami BeachNew Construction in HomesteadNew Construction in Boynton BeachNew Construction in North PortNew Construction in KissimmeeNew Construction in KendallNew Construction in DoralNew Construction in Daytona BeachNew Construction in LauderhillNew Construction in Wesley ChapelNew Construction in TamaracNew Construction in PoincianaNew Construction in WestonNew Construction in Delray BeachNew Construction in Port CharlotteNew Construction in OcalaNew Construction in Port OrangeNew Construction in SanfordNew Construction in Horizon WestNew Construction in St. CloudNew Construction in Wellington

Frequently asked questions

Yes. New Construction loans are available statewide in Florida through approved lenders, subject to county loan limits where they apply.

Often yes. Florida Housing Finance Corporation and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.