Save for Your Down Payment
See how long until you can afford a Jacksonville home, with FHA, conventional, and VA down payment scenarios built in.
HYSAs currently pay 4-5% APY. Regular savings earn ~0.5%.
Ready to Buy In
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Goal Amount
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You Deposit
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Interest Earned
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Accelerate your timeline
Jacksonville down payment assistance programs can cut 6-18 months off your savings timeline. Let's see if you qualify.
I'll send you the Jacksonville DPA programs you may qualify for.
Frequently Asked Questions
What's the minimum down payment in Florida?
It depends on the loan type: VA loan, $0 (eligible veterans/active duty), FHA loan, 3.5% (580+ credit score), Conventional loan, 3-5% (first-time buyers), 10-20% standard. Putting down less than 20% on a conventional loan means you'll pay PMI.
Should I wait until I have 20% down?
Not necessarily. In Jacksonville's appreciating market, waiting 2-3 extra years to save 20% could cost you more in home price increases than you'd save in PMI. The math varies, Keneshia can help you run the numbers.
Are there down payment assistance programs in Jacksonville?
Yes. Florida Housing, Duval County, and the City of Jacksonville offer DPA programs for first-time buyers, some provide $7,500-$15,000 in forgivable loans. Income limits apply. Read our blog post on Jacksonville down payment assistance.
Can I use gift money for my down payment?
Yes, FHA and conventional loans allow gift funds from family members. You'll need a gift letter signed by the donor stating it's not a loan. VA loans also accept gifts. Keneshia can walk you through the documentation.
Should I put my savings in a high-yield account?
Yes. A high-yield savings account (HYSA) or money market fund currently pays 4-5% APY, which can meaningfully accelerate your down payment timeline. This calculator factors in savings interest.