There are FHA loans where first time buyers only have to put down 3.5%. Since the rates are so low these days, this is an excellent time to first time purchase. Bank-owned FNMA properties prioritize buyers, who are going to be primary dwellers, so you can beat out the countless investors w cash, as long as you've been pre-qualified. If you need help, let me know. I know an excellent mortgage broker, whom I can reccommend.
Also, you might want to check the CRA programs in the City of Hollywood. I know the downtown area and the beach areas are under CRA, but it depends on the location of the house, whether there might be City down payment assistance or low rate 2nd mortgage programs...usually these are to get rid of blight, which is usually not the case in Hollywood Lakes...but ya never know.
If you need help finding the right house, I can set up a customized search for you. Usually on FHA's, there is an FHA inspection, which is a little more costly and in-depth. The roof has to be sound, or it has to be fixed prior to closing...which makes it a little more cumbersome.
Let me know how I can help. I lived near Hollywood Lakes area for 13 years.
Catherine Kim Owens