Up to $35,000 in Assistance
Borrowers can receive 5% of the loan amount in down payment and closing cost assistance.
About the Program
The Florida Hometown Heroes Housing Program, provided through the Florida Housing Finance Corporation, is designed to honor and support those who serve our communities. This program provides essential down payment and closing cost assistance to first-time, income-qualified homebuyers to assist them in the purchase of a primary residence in the state of Florida.
Program Eligibility
To qualify for the Hometown Heroes program, borrowers must meet the following criteria:
- First-Time Homebuyer: Must not have owned a home in the last 3 years (Veterans and Active-Duty military are exempt).
- Florida Employment: At least one borrower must be employed full-time (35+ hours per week) by a Florida-based employer.
- Income Limits: Household income cannot exceed the maximum limit for the specific county of the property.
- Homebuyer Education: Completion of a first-time homebuyer counseling course is required.
- Primary Residence: The property must be used as the borrower's main home.
Loan Details
The assistance is provided as a 0% interest, non-amortizing, 30-year deferred second mortgage. This means you don't make monthly payments on the assistance funds; the loan is only repaid when you sell the home, refinance the primary mortgage, or pay off the first mortgage.
Funds can be used for:
- Down payment costs
- Reasonable and customary closing costs
- Additional down payment to reduce your primary loan amount