The Florida Hometown Heroes Housing Program
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?
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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
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Can be paired with additional assistance programs to maximize the amount of received assistance
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Down payment and closing cost assistance is available in the form of a 0% interest, non-amortizing,
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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.
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The down payment and closing cost assistance can be used to satisfy the following:
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Borrower’s down payment
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Any down payment exceeding the minimum borrower requirement
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Reasonable and customary closing cost.
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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.
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The down payment and closing cost assistance can be used to satisfy the following:
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Borrower’s down payment
-
Any down payment exceeding the minimum borrower requirement
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Reasonable and customary closing costs
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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 with Innovative Mortgage for more information
727-688-2851 or email Debbie@debbieCooleyMortgage.co
Debbie Cooley Mortgage | NMLS #836635
Debbie Cooley Guy, Loan Originator NMLS #210817
Equal Housing Lender