WHAT IS FLORIDA HOMETOWN HEROES

The Florida Hometown Heroes Program is an ​affordable housing initiative to assist first-​time homebuyers, Veterans and the other ​heroes in our community. This program is ​designed to empower and support our local ​heroes as they embark on the journey of ​homeownership.

This ground-breaking program is newly ​expanded and now qualifying is easier than ​ever--and is only available through ​authorized participating lenders with the ​Florida Housing Finance Corporation.

DOWN PAYMENT ASSISTANCE FACTS

The down payment assistance for the Florida ​Hometown Heroes Program is a 0% interest, 30 ​year deferred second mortgage. There is no ​monthly payment due each month.

The assistance loan must always be repaid in ​full when the home is sold or refinanced, if the ​homeowner moves to another property, or the ​loan comes to term. At no time is this loan ​forgiven.

DOWN PAYMENT ASSISTANCE AMOUNT

The down payment assistance is based on 5% ​of the total new loan amount, ranging from:

$10,000 - $35,000

When the funds are gone, the program will ​not function until funds have been ​replenished.

There is no timeline for when new funds will ​be replenished, so be sure to act quickly if ​you're serious about buying your first home!

To qualify for

DOWN PAYMENT Assistance

FIRST-TIME HOMEBUYERS

Applicants must be a first-time homebuyer ​*OR* must not have owned a home in the ​most recent 3 years.

Veterans and Active Duty Service members ​do not need to be first-time homebuyers to ​qualify

LOAN APPROVAL

Applicants must qualify for one of ​4 different traditional mortgage loan​ programs:​

• Conventional Home Loan »​
  
• FHA Home Loan​
  
• VA Home Loan​
  
• USDA / Rural Development Loan​
  

CREDIT SCORE

All applicants must have a middle credit ​score of 640 or higher. (660 for ​Manufactured Homes)

OCCUPANCY

This program is designed for owner-​occupied homes only. This program cannot ​be used to finance second/vacation ​homes, or investment properties.

INCOME LIMITS

Applicant(s) total income must be at or ​below the County limit where the home ​being financed resides.

ELIGIBLE PROPERTIES (FLORIDA HOMES ONLY):

• Single Family Homes - Townhomes and ​Villas -Condos
  
• 2-4 Unit Multi-Family homes (FHA, VA & ​USDA only)
  
• Manufactured Homes and Double-wide ​Mobile Homes built after 1993.
  

EMPLOYMENT

At least one owner-occupying applicant ​must be employed full-time by a Florida-​based business. The business must have a ​headquarters or a brick & mortar location in ​Florida.

Work-from-home employees must report ​to or work out of a specific Florida location ​to qualify. Work-from-home employees ​must report to a specific location and the ​employer must confirm the location in ​writing.

Self-employed applicants must have third ​party confirmation of full-time status. The ​self-employed applicant’s CPA, bookkeeper ​or tax preparer must provide a letter ​confirming full-time work status.

Veterans and Active Duty Service members ​are also eligible regardless of employment.