August 16, 2023

Hometown Heroes Housing Program Now Extended to all Working Floridians

Hometown Heroes Housing Program Now Extended to all Working Floridians

The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible residents. Originally intended for frontline community members (such as law enforcement officers, firefighters, educators, healthcare professionals, childcare workers, active military, and veterans), Hometown Heroes is now offering an additional $100 million and extending the program to all first-time home buyers employed by Florida-based employers.

Related: Tax Benefits for Florida Homebuyers and Owners

The Hometown Heroes Housing Program provides assistance with down payment and closing cost assistance to first-time first buyers who are income-qualified to make it easier for them to purchase a primary residence in the community in which they work. Additionally, the Hometown Heroes Loan Program offers eligible applicants a lower first mortgage interest rate and other special benefits.

Other program details include:

  • Full-time employees of Florida-based employers can receive lower market interest rates on FHA, VA, RD, Fannie Mae, or Freddie Mac first mortgages with benefits including upfront fees, no origination points or discount points, and assistance with down payment and closing costs.
  • Up to 5% of the first mortgage loan amount, up to a maximum of $35,000, in down payment and closing cost assistance.
  • Assistance with down payment and closing costs in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This Florida Hometown Heroes loan is not forgivable and becomes due and payable in the event of the property sale, refinancing of the first mortgage, transfer of the deed, or the homeowner stops occupying the property as their primary residence.

Learn more information at the Florida Hometown Heroes Program website or start your application with their Home Loan Program Wizard.

Note: the Florida Department of Revenue advises that you consult your Realtor, mortgage lender, and prospective county property assessor’s office before purchasing a home to better understand how your real estate taxes will affect your budget and planning.

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