by DaveN 
Making Housing Affordable For Our HomeTown Heroes!
The Florida Hometown Heroes Housing Program aims to make homeownership accessible to eligible members of the community workforce.
This initiative offers down payment and closing cost assistance to first-time homebuyers who meet income criteria. The program enables them to purchase their primary residence in the community where they are employed and actively contribute to its well-being.
Furthermore, the Florida Hometown Heroes Loan Program provides attractive features, including competitive interest rates for the initial mortgage and additional benefits for individuals who have served or continue to serve their country.
Program Highlights:
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Full-time workforce members employed by a Florida-based employer are eligible for reduced interest rates on FHA, VA, RD, Fannie Mae, or Freddie Mac first mortgages. This includes reduced upfront fees, no origination points or discount points, along with down payment and closing cost assistance.
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Borrowers can access up to 5% of the initial mortgage loan amount, with a maximum cap of $35,000, to assist with down payment and closing costs.
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The down payment and closing cost assistance is structured as a 0% interest, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due in full when the property is sold, the first mortgage is refinanced, the deed is transferred, or if the homeowner no longer uses the property as their primary residence. It’s important to note that the Florida Hometown Heroes loan is not forgivable.
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BE AWARE: There is no cost to apply for Hometown Heroes Down Payment Assistance. Scammers often target homebuyers who are in need of assistance or trying to purchase a home. A common tactic scammers use is requiring you to pay an upfront fee before providing any services. They may also try to charge you to apply for the program. Avoid any company or individual that does this and report them to the Inspector General’s Office at the Florida Housing Finance Corporation 850-488-4197.