727-688-2851 | Mon–Fri 8am–6pm
NMLS# 210817 · Company NMLS# 836635
Debbie Cooley Mortgage monogram
Debbie Cooley Mortgage Where a Broker Is Always Better
Loan Programs All Programs Overview Reverse Mortgage First-Time Buyer Loans Conventional FHA VA Refinance & HELOC
Resources All Resources Payment Calculator Refinance Calculator Reverse Mortgage Quiz Refinancing During Divorce First-Time Buyer Roadmap 5 Questions to Ask Any Broker Blog
Areas Served All Service Areas New Port Richey · Reverse Port Richey · VA Wesley Chapel Trinity · Home Equity Tarpon Springs · FHA Clearwater Tampa
About About Debbie Client Reviews FAQ
Call 727-688-2851 Talk to Debbie
Florida hometown heroes — teacher, firefighter, and nurse
First-Time Buyers

Florida Hometown Heroes Housing Program Downpayment Help

Debbie Cooley February 23, 2023 2 min read
Client Testimonials, Conventional Loan, FHA Loan, Real Estate Finance News, Things every accountant should know, Things Every Financial Planner Should Know, Things Every Realtor Should Know, Uncategorized, VA Loan
The Florida Hometown Heroes Housing Program through the Florida Housing Finance Corporation helps make homeownership more affordable for eligible front-line workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans. The program provides down payment and closing cost assistance to first-time, income-qualified homebuyers in an eligible occupation to assist them in the purchase of a primary residence.

WHAT IS IT?

  • Florida Hometown Heroes allows borrowers to receive up to 5% of the loan amount (capped at $25,000) in down payment and closing cost assistance
    • Can be paired with additional assistance programs to maximize the amount of received assistance
  • Down payment and closing cost assistance is available in the form of a 0% interest, non-amortizing,
  • 30-year repayable second mortgage. This second mortgage becomes due and payable in full upon the sale of the property, refinancing of the first mortgage, transfer of a deed, or if the homeowner no longer occupies the property as their primary residence. The Florida Hometown Heroes loan is not forgivable.
  • The down payment and closing cost assistance can be used to satisfy the following:
    • Borrower’s down payment
    • Any down payment exceeding the minimum borrower requirement
    • Reasonable and customary closing cost.
  • 30-year repayable second mortgage. This second mortgage becomes due and payable in full upon the sale of the property, refinancing of the first mortgage, transfer of deed, or if the homeowner no longer occupies the property as their primary residence. The Florida Hometown Heroes loan is not forgivable.
  • The down payment and closing cost assistance can be used to satisfy the following:
    • Borrower’s down payment
    • Any down payment exceeding the minimum borrower requirement
    • Reasonable and customary closing costs
Florida’s Hometown Heroes program is a state-wide initiative that recognizes and celebrates the exceptional work of first responders, law enforcement officers, and other essential workers who have gone above and beyond their call of duty to serve their communities. These individuals have displayed courage, dedication, and selflessness in their respective fields and have made a significant impact on the lives of the people they serve. The program was launched in 2020 by Governor Ron DeSantis in response to the COVID-19 pandemic. The governor recognized that essential workers were risking their lives to keep Floridians safe and healthy, and he wanted to show his appreciation and support for their efforts. This is exciting news for Hometown Heros in Florida call Debbie Cooley Guy at Debbie Cooley Mortgage for more information 727-688-2851 or email  Debbie@debbieCooleyMortgage.co

Have questions about your specific situation? Schedule a free consultation with Debbie or call 727-688-2851.