That’s why the florida housing finance corporation, known as Florida Housing, offers several programs to help Floridians buy a first. credit score or aren’t able to save a big down payment. Learn.

First Time Home Buyer Building Loan Most first time buyers often go with FHA construction loans that can be used for construction financing, refinancing, modernization, remodeling, equipment, and expansion. FHA loans are a little more expensive compared to other construction loans due to the upfront mortgage insurance premium, but in the right scenario it can be a cheaper alternative overall.