Florida Hometown Heroes Program - The Complete Guide
By: Phil Ganz Published on: 15/12/2023
Hometown Heroes
Florida Hometown Heroes Housing Program
Eligible full-time workforce, employed by a Florida-based employer can receive lower than market rates on first mortgage, reduced upfront fees, and no origination points.
Florida Housing Finance Corporation (FL Housing) offers first mortgage products and down payment and closing cost assistance second mortgage programs to eligible First Time Homebuyers through a network of approved Participating Lenders.
The FL Hometown Heroes Loan Program also offers eligible borrowers a greater opportunity to purchase a home and remain in the community in which they work and serve.
Borrowers can receive up to 5% of the total loan amount not to exceed $35,000 with a minimum of $10,000. Down payment and closing cost assistance is available in the form of a 0%, non-amortizing, 30-year deferred second mortgage.
Fill out our form below to check your hometown heroes eligibility for free.
Program Requirements
All Borrowers must have a minimum FICO of 640 (Manufactured housing require a minimum 660)
and maximum DTI of 50% (Maximum DTI with manufactured housing is 45%).
Borrower(s) must work full-time for an employer that is a Florida-based business, which means, the
employer must have a brick and mortar location in Florida that the borrower(s) report to and/or works from.
ALL borrower(s) are first-time homebuyers which means, a borrower(s) must have had no present
ownership interest in a principal residence at any time during the three-year period prior to the date
on which the Mortgage Loan is executed.
Borrower(s) must not exceed the maximum Income & Loan Limit requirements, household size, for
the county in which the property is being purchased.
Helpful Content
By: Phil Ganz
How to Qualify for the Florida Hometown Heroes Program
By: Phil Ganz Published on: 01/12/2023
Hometown Heroes
Florida Hometown Heroes Program Loan Limits
By: Ryan Skerritt Published on: 10/11/2023
Hometown Heroes
New Florida Hometown Heroes Program Income Limits | 2024
By: Phil Ganz Published on: 09/11/2023
Hometown Heroes
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Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs.
This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
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