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The Florida Hometown Heroes Program

Empowering First Time Home Buyers with
Affordable Homeownership
The Florida Hometown Heroes Loan Program is designed to provide critical support to full-time workers of Florida-based employers, offering substantial down payment assistance and favorable loan terms to help them achieve homeownership.
The Hometown Heroes Program is a fantastic initiative that supports local heroes. Similarly, there are exclusive offers available online, like using промокод вавада 2024, which provides access to special bonuses on gaming platforms.
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  • Substantial Down Payment Assistance
Eligible heroes can receive up to $35,000 in down payment and closing cost assistance.
  • Accessible Eligibility Criteria
Includes a minimum credit score of 640 and income limits set at 150% of the Area Median Income (AMI).
  • Comprehensive Support
Provides tailored guidance through approved loan officers, ensuring a smooth and supportive home-buying experience.

Accessible Financing For Florida Full-time Workers

What are the advantages?

  • Generous Financial Assistance: Up to $35,000 to cover down payment and closing costs significantly reduces the financial barrier to homeownership.
  • Inclusive Eligibility: Military Personnel (Active duty and veterans) are exempt from the first-time homebuyer requirement, broadening the program’s reach.
  • Support for Full-time Workers: Targets full-time workforce employed by a Florida-based employer, recognizing their vital role in the community.
  • Credit Score Requirement: FICO scores as low as 640 are acceptable

What are the disadvantages?

  • Income Restrictions: Applicants must have an income not exceeding 150% of their county’s AMI, which may limit eligibility.
  • Geographic Limitations: The program is specific to full-time employees of Florida-based employers, which might not benefit full-time workers in other states.
  • Purchase Restriction: The program is only available to first time home buyers.

The Florida Hometown Heroes Loan

Recognizing Full-Time Workers

The Florida Hometown Heroes Loan Program is designed to provide critical support to Florida’s First Time Home Buyer’s full-time workers, offering substantial down payment assistance and favorable loan terms to help them achieve homeownership. This program is a vital initiative aimed at supporting Florida workers by making homeownership more accessible and affordable.

Financial Benefits

Eligible applicants can receive up to $35,000 in down payment and closing cost assistance, which is a significant benefit in today’s housing market. This assistance is based on 5% of the first mortgage loan amount, with a minimum of $10,000, ensuring that even those purchasing more affordable homes can receive meaningful support.

Inclusive Eligibility Criteria

One of the standout features of the Florida Hometown Heroes Loan Program is its inclusive eligibility criteria. While it requires a minimum credit score of 640, the program is designed to be accessible to a wide range of full-time workers. Additionally, active duty military personnel and veterans are exempt from the first-time homebuyer requirement, broadening the program’s reach and recognizing their service. The program also sets income limits at 150% of the Area Median Income (AMI) for the applicant’s county, ensuring that the assistance is directed towards those who need it most.

The Hometown Heroes Loan Program is a comprehensive and supportive initiative that not only acknowledges the invaluable contributions of Florida’s full-time workers but also empowers them to achieve the stability and security that comes with homeownership. By reducing financial barriers and offering specialized support, The Doce Group is making a significant difference in the lives of those who serve the community.

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Florida Hometown Heroes Summary

  • Purpose: Supports Florida full-time workers in achieving homeownership.
  • Financial Assistance: Provides up to $35,000 for down payment and closing costs.
  • Eligibility: Open to full-time workers employed by a Florida-based employee (and Military who are exempt from the first-time homebuyer requirement).
  • Credit and Income Requirements: Minimum credit score of 640 and income not exceeding 150% of the Area Median Income (AMI).
  • Property Types: Supports the purchase of primary residences, including single-family homes, 2-4 family homes, condos, and townhouses.
  • Guidance: Offers support through approved Florida based loan officers for a smooth application process.
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FAQs

Eligible full-time workforce, first time home buyers, employed by a Florida-based employer.
Eligible applicants can receive up to $35,000 in assistance for down payment and closing costs, based on 5% of the first mortgage loan amount, with a minimum of $10,000.
Applicants must have a minimum credit score of 640 to qualify for the Home Town Hero Loan Program.
Yes, the applicant’s income must not exceed 150% of the Area Median Income (AMI) for their county.

The program supports the purchase of primary residences, including single-family homes, 2-4 family homes, condos, and townhouses.

Yes, active duty military personal and veterans can apply and are exempt from the first-time homebuyer requirement, making it easier for them to qualify.

Yes, the primary borrower need to complete a homebuyer education course as part of the eligibility requirements.

Interested applicants should contact an approved loan officer who can guide them through the application process and help determine their eligibility.

Yes, the assistance provided can be used to cover both the down payment and closing costs, reducing the out-of-pocket expenses for the homebuyer.
Down payment and closing cost assistance is available in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed or if the homeowner no longer occupies the property as his/her primary residence. The Florida Hometown Heroes loan is not forgivable.

The Doce Group’s commitment to personalized service and extensive industry knowledge ensures that every participant in the Hometown Heroes Loan Program receives the best possible advice and support.

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Alex Doce. NMLS 13817.

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Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Loan approval and terms are dependent upon borrower’s credit, documented ability to repay, acceptability of collateral property, and underwriting criteria.

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