The Hometown Heroes housing program was implemented by Governor Ron DeSantis to help Florida workers afford the cost of buying a home. Depending on your profession and employment status, it could potentially help you.
As the cost of living in Florida grows higher, the program seeks to encourage residents to buy a primary residence in the communities where they work.
The program provides funding to help with a down payment and closing costs for first-time buyers.
Recipients can get up to 5% of the first mortgage loan amount for their down payment and closing costs.
Get South Florida local news, weather forecasts and entertainment stories to your inbox. Sign up for NBC South Florida newsletters.
Down payment and closing cost assistance is available in the form of a 0%, non-amortizing, 30-year deferred second mortgage.
The second mortgage is due when the house is sold, if the first mortgage is refinanced or paid off, or the deed is transferred.
The program can also offer lower interest rates for first mortgage loans.
Local
When the program was first implemented in 2022, the maximum amount of assistance that could be granted was $25,000.
The amount increased to $35,000 for the 2023-4 fiscal year.
If you meet these criteria, you might be eligible to receive assistance through Hometown Heroes:
- Minimum credit score of 640
- Employed 35+ hours/week in the state of Florida
- You're an educator, veteran, physician, etc. Click here to view the full list of eligible occupations.
- First-time buyer
- Annual income is less than your county threshold. Click here to what your county's income limit is.
- Maximum debt-to-income ratio is less than 50 percent
