text: what is the best down payment assistance program for first time home buyers? we are first time home buyers in florida and are looking for the best option for down payment assistance.  we have already been pre-approved for a mortage. there are a wide range of programs available for down payment assistance.  your loan consultant should be able to give you an overview of all of them.  ask about special state bond programs, and any federal assistance programs.  i think ameridream and dreamhouse are both national but i am certain that will be some that are local for you.  also ask you loan consultant about 103% and first horizon's 107% loans.  the rates are slightly higher but they will also cover some or all of your closing costs.