3 Big Myths Jacksonville First-Time Home Buyers Must Know

If you’re about to buy your first home in Jacksonville, Florida, chances are you’ve heard a lot of advice—some from family, some from friends, and plenty from social media. But how much of it is actually true?

As a local real estate consultant here in Northeast Florida, I work with a lot of first-time home buyers, and I hear the same myths over and over again. Today, let’s bust the top three myths that could be holding you back from owning a home in Jacksonville.

Myth #1: You Need Perfect Credit to Buy a Home

Good news—Jacksonville first-time buyers do not need perfect credit to purchase a home.

A perfect score is considered 850, but most lenders don’t require that. If your credit is in the 720–750 range, you can often qualify for the same great rates as someone with an 800 score. And even if you’ve gone through something like bankruptcy, you may still be able to buy once you’ve rebuilt your credit. You don’t have to wait a full 10 years for it to fall off your record.

✅ Translation: You don’t need to stress about an 800+ score. You just need solid, workable credit—and the right lender.

Myth #2: Renting Is Cheaper Than Buying in Jacksonville

This one surprises people. Sometimes renting looks cheaper on the surface, but over the long run, owning a home in Northeast Florida is usually the better deal.

Here’s a personal example: My family bought our home in 2021. Our monthly mortgage payment today (including taxes and insurance) is $1,232. Across the street, a very similar home is renting for $1,750 a month. That’s over $500 more every single month.

Not only is buying often cheaper month-to-month, but every mortgage payment builds equity in your Jacksonville home, while rent builds nothing for your future.

Myth #3: You Need 20% Down

This is probably the most common misconception I hear from first-time buyers in Jacksonville.

Yes, 20% down will eliminate private mortgage insurance (PMI) and lower your monthly payment—but it’s not required. Many buyers only need 3–5% down, and some programs even offer grants or assistance that cover part of the down payment and closing costs.

Don’t let the 20% myth keep you stuck renting. With the right program, buying your first home in Jacksonville or St. Johns County could be more within reach than you think.

Bonus Myth: Coffee & Avocado Toast Are the Problem

I had to throw this one in! You’ve probably heard the joke that if first-time buyers just skipped Starbucks and avocado toast, they’d be able to buy a house.

Let me assure you—that is not the reason homes feel out of reach. A $5 latte isn’t stopping anyone from becoming a homeowner in Northeast Florida. The real challenges are bigger: interest rates, housing supply, and economic conditions. So yes, you can enjoy your coffee and still buy a home in Jacksonville.

The Bottom Line for Jacksonville First-Time Home Buyer

Now you know the truth about the three biggest myths that keep first-time buyers from moving forward. Owning a home in Jacksonville or anywhere in Northeast Florida is possible—even if you don’t have perfect credit, even if you don’t have 20% down, and even if you’re worried about costs compared to renting.

But every buyer’s situation is different. That’s why it helps to have someone local on your side.

📲 Call or text me at 904-910-3516 and let’s put together your personalized plan to buy your first home in Jacksonville.

👉 And don’t miss my latest video where I dive deeper into the 20% down payment myth and share the best loan programs for Jacksonville first-time buyers: