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How the Home Zero Program Works

Want to buy a home with 100 financing The Home Zero program might be right for you Click here to learn more about this exciting program

How the Home Zero Program Works

Eager to own a home but don’t have a 3.5% down payment or lots of money in savings to cover closing costs? You’re not alone. Many prospective homeowners and repeat home buyers find down payment requirements to be restrictive and difficult to work around. 

Our Home Zero program may be able to help. 

Our HomeZero program allows you to take out an FHA loan with 100% financing. It is an excellent program for any borrower who wishes to make their home ownership dreams into a reality. 

How does the Home Zero program work?

The Home Zero program allows you to take out a second loan at up to 3.5% of the property value, allowing you to cover both your 3.5% down payment.

You make regular monthly payments on the second loan just like you would on the first loan, and your home secures both loans. The second loan is also forgivable on the HomeZero program after ten years, so long as you, the borrower, continue to live in the home.

What’s the difference between the Home Zero program and the Hometown Heroes program?

The Hometown Heroes program is an excellent state-run program that gives borrowers a grant of up to $35,000. The Hometown Heroes program requires borrowers to repay the second mortgage upon the sale of the property, refinancing of the first mortgage, or transfer of deed should the homeowner stop occupying the property as their primary residence. 

Unfortunately, the Hometown Heroes program ran out of funds some time ago. It’s difficult to say exactly when the program will be funded again or when borrowers may take advantage of it once more. We estimate it will be six to twelve months before the program is funded again. 

In addition, the Hometown Heroes program was only available to first-time home buyers and required borrowers to be employed by a Florida-based employer.

While you must repay the down payment assistance loan you receive under the Home Zero program, you nevertheless will benefit from a flexible option for purchasing a home. In addition, Hometown Heroes requires a credit score of 640+, whereas the Home Zero program only requires you to have a minimum credit score of 600. 

Who qualifies for the Home Zero program?


      • You have a credit score of 600 or higher

      • Your DTI ratio is below 57%.

    • You are planning to purchase a primary residence

    You do not have to be a first-time home buyer to participate in the program. In addition, you do not have to worry about income limits. Down payment assistance is available to anyone who feels they can benefit from the program. 

    Is the Home Zero program right for you? 

    The Home Zero program is not the right program for every borrower. Selecting a home loan program means taking your total financial picture into account.

    Schedule a consultation with Alex Doce to receive guidance on whether this program is right for you. If it isn’t, Alex will suggest different programs that will give you the best terms for your home loan. Call (800-355-ALEX) to get help today.

    Written By:

    Alex Doce

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