Receive up to 5 percent of the first mortgage loan amount (maximum of $35,000) in assistance.
Verify Your Hometown Heroes Eligibility
The FL Hometown Heroes Loan Program makes housing affordable for eligible first-time buyers. Hometown Heroes offers a competitive first mortgage rate AND additional special benefits to those who currently serve their communities and those who have served and continue to serve their country.
The FL Hometown Heroes Loan Program is offered through BOND and TBA (The Bond Alternative) Program which helps to increase and preserve affordable housing opportunities for Florida’s workers and military personnel (active duty and veterans).
Florida Hometown Heroes Loan Calculator - Use our simple Calculator to determine your eligibility for Florida Hometown Heroes Housing Program. By entering details like your credit score, household income, and loan amount, you’ll quickly find out how much assistance you could receive.
With TBA Program, the income and the first-time homebuyer status of the borrower(s) only is considered. This Program does not consider Household Income or the first-time homebuyer status of the spouse if the spouse is not on the loan.
With Bond Program, the income of all occupants ages 18 and older are considered. The first-time buyer status of all borrowers, Non-Purchasing spouse and parties appearing on deed is also considered.
The Florida Hometown Heroes does not have an upfront 1% Origination Fee which saves borrower(s) thousands of dollars in upfront closing costs.
The program will reduce the upfront costs for homebuyers by providing zero-interest loans to help with down payment and closing costs.
5% Of the TOTAL Loan Amount capped at $35,000, with a minimum of $10,000 in down payment and closing cost assistance. For example, borrowers with a loan amount of $200,000 or less would receive an automatic $10,000.
0%, non-amortizing, 30-year, repayable second mortgage.
The Hometown Heroes Loan is not forgivable. Repayment is deferred, except in the event of sale, transfer, satisfaction of the first mortgage, refinancing of the property or until such a time the mortgagor ceases to occupy the property at which time, the Hometown Heroes Second Mortgage Loan will become payable in full.
ALL borrowers are restricted to a one-time participation in FL Housing’s Homebuyer Loan Programs. This includes all first and second mortgage programs.
Note - Florida Housing’s DPA cannot be combined with another FL Housing DPA program.
The property the borrower(s) is purchasing will be their primary residence and they will be a Florida resident. Owner occupied only with borrower’s intent to occupy property as their primary residence within 60 days of closing.
Borrower(s) must be employed full-time by a Florida-based employer. Borrower(s) must work for a FL based employer that has a physical location in FL. Borrower(s) must work from, or report to, that physical location. Veterans are exempt from this requirement when providing a valid DD214. ONLY one occupying borrower must satisfy this requirement.
Occupying borrower(s), must not have had an ownership interest in their primary residence within the last three years unless purchasing in a Federally Designated Targeted Area OR if qualifying under the Veteran’s Exemption.
Borrower(s) must not exceed the maximum Income Limit requirements, household size, for the county in which the property is being purchased. BOND considers the Household Income. Therefore, all gross income of occupants aged 18 and older must be considered. TBA considers the Credit Qualifying Income or AUS income.
One borrower (primary borrower) must complete a Program- approved, in-person or online, PRE-PURCHASE, homebuyer education course. Certificates of completion are acceptable for 2 years from the date of completion. Veterans do not have to attend HBE if qualifying under the Veterans Exemption. Active-Duty military buyers are not exempt from HBE. Co-Signors do not have to attend HBE.
Offers eligible borrowers a 30-year, fixed-rate mortgage. This first mortgage also offers reduced Mortgage Insurance (MI) premium for borrowers with income at or below 80% of AMI. Borrowers with income above 80% AMI will pay standard mortgage insurance.
Note - Prepayments is permitted at any time without penalty.
A Copy of VOE confirming borrower works from a FL location or a letter from employer confirming borrower works from a FL location is required.
Paystubs confirming 40 hours a week is acceptable, but if paystubs do not reflect 40 hours, a written or verbal Verification of Employment (VOE), or a letter from employer verifying full-time will be required.
Self-Employed borrower(s) must provide letter from CPA, book keeper or tax preparer validating borrower works full-time. A Letter of Explanation (LOX) from the borrower attesting they are full-time is not acceptable.
We are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted advisor, providing highly personalized service and helping you through every step of the loan process — from application to closing and beyond. It’s all designed to exceed expectations, provide satisfaction and earn trust.
