Florida Hometown Heroes Housing Program

Good news! Florida Housing will receive $100 million in additional Hometown Heroes funding beginning July 1. Please check back for updates to the program as we get closer to July 1, 2023, the effective date.

The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible frontline community workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans.

This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers to purchase a primary residence in the community where they work and serve. The Florida Hometown Heroes Loan Program also offers a lower first mortgage rate and additional unique benefits to those who have served and continue to serve their country.

Program Details:

• Eligible frontline workers can receive lower than market rates on an FHA, VA, RD, Fannie Mae, or Freddie Mac first mortgage, reduced upfront fees, no origination or discount points, and down payment and closing cost assistance.
• Borrowers can receive up to 5% of the first mortgage loan amount (maximum of $25,000) in down payment and closing cost assistance.
• Down payment and closing cost assistance are available as a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in total, upon sale of the property, refinancing of the first mortgage, transfer of the deed, or if the homeowner no longer occupies the property as their primary residence. The Florida Hometown Heroes loan is not forgivable.

Who Benefits:

The Hometown Hero Housing Program would be available to home-buying families with income of no more than 150% of the state or local median income when the loan is issued. Specifically, the program would be available to workers and educators employed full-time as:

• Law enforcement officers
• Certified correctional officers
• Probation officers
• 911 operators
• Firefighters
• Paramedics
• Emergency medical technicians
• Teachers
• Education administrators
• Health care professionals

MORE ELIGIBLE OCCUPATIONS INCOME AND PURCHASE PRICE LIMITS

Homelis Realty doesn’t own rights to the video and images used within this post but has received permission from Florida Housing to use them as marketing. Warren Spencer, Real Estate Broker, has been approved by Florida Housing to discuss and share information about Florida Housing homebuyer programs.

Florida Hometown Heroes Housing Program