Florida Hometown Heroes (Update Nov 2023)
The Florida Hometown Heroes Housing Program through the Florida Housing Finance Corporation helps make home ownership more affordable for eligible front-line workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans and any individual employed by a company established in Florida.
Florida State has injected another $36 Million into the program which will commence on 11/06/2023. This was in addition to the $100 million it injected in June of this year and lasted less than 2 months. So with this said there is no time to waste since is first come first serve and when the funds run out then its out.
The program provides down payment and closing cost assistance to first time, income qualified home buyers in an eligible occupation to assist them in the purchase of a primary residence.
WHAT IS IT?
- Florida Hometown Heroes allows borrowers to receive up to 5% of the loan amount (capped at $35,000) in down payment and closing cost assistance
- Can be paired with additional assistance programs to maximize amount of received assistance
- Down payment and closing cost assistance is available in the form of a 0% interest, non-amortizing,
- 30-year repayable 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 their primary residence. The Florida Hometown Heroes loan is not forgivable.
- Reduced rates
- The down payment and closing cost assistance can be used to satisfy the following:
- Borrower’s down payment
- Any down payment exceeding the minimum borrower requirement
- Reasonable and customary closing costs
ELIGIBILITY
- Borrowers must not exceed the maximum income limit requirements for the county in which property is being purchased
- At least one borrower must be a first-time home buyer and employed in an approved occupation
- VVOE indicating full time employment of 35 hours or more a week required
- Borrower Attestation Form indicating eligible occupation is required
- First-time home buyer counseling is required to be complete by all borrowers utilizing income from an approved occupation
- Veterans and active-duty military members are exempt from all first-time home buyer requirements unless participating in HFA Preferred Heroes program
- Minimum FICO of 640
- Borrower(s) cannot exceed 80% of the Area Median Income(AMI)
APPROVED OCCUPATIONS
- 911 Public Safety Communicator
- Active-Duty Military Personnel
- Acupuncturist
- Adult Protective Services’ Enforcement (DCF)
- Advanced Practice Registered Nurse (APRN)
- Anesthesiologist
- Anesthesiologist Assistant
- Assistant Public Defender
- Assistant State Attorney
- Assisted Living Facility (ALF) Administrator
- Athletic Trainer
- Basic X-Ray Machine Operator (Radiologic)
- Blood Gas Analyst (Laboratory)
- Career Specialist (Educator)
- Child Protective Services’ Enforcement (DCF)
- Childcare Instructor
- Childcare Operator
- Chiropractic Physician
- Chiropractic Physician’s Assistant
- Classroom Teacher
- Clinical Nurse Specialist
- Clinical Social Worker
- CMA
- CNA
- Correction Officer
- Correctional Probation Officer
- Dental Assistant
- Dental Hygienist
- Dentist
- Dietetic Technician
- Dietician
- Electrologist
- Emergency Medical Technician (EMT)
- Federal Sworn Law Enforcement
- Firefighter
- General Radiographer (Radiologic)
- Genetic Counselor
- Hearing Aid Specialist
- Hearing Aid Specialist Trainee
- Home Health Aide
- Juvenile Detention Officer
- Juvenile Probation Officer
- Laboratory Director
- Laboratory Supervisor
- Laboratory Technologist
- Laboratory Testing Technician
- Librarian/Media Specialist (Educator)
- Marriage & Family Therapist
- Massage Therapist
- Medical Assistant
- Medical Physicist
- Mental Health Counselor
- Naturopathic Physician
- Nuclear Pharmacist
- Nurse Anesthetist
- Nurse Midwife
- Nursing Assistant (CNA)
- Nursing Home Administrator
- Nutrition Counselor
- Nutritionist
- Occupational Therapist
- Occupational Therapist Aide
- Occupational Therapist Assistant
- Optician
- Optometrist
- Orthotic Fitter
- Orthotic Fitter Assistant.
- Orthotist
- Osteopathic Physician
- Paramedic
- Pedorthist
- Pharmacist
- Pharmacy Technician
- Phlebotomist
- Physical Therapist
- Physical Therapist Assistant
- Physician
- Physician Assistant
- Podiatric Physician
- Podiatric X-Ray Assistant
- Practical Nurse (LPN)
- Prosthetist
- Prosthetist Orthotist
- Psychiatrist
- Psychologist
- Radiologic Specialty Technologist
- Radiologic Technologist
- Radiology Assistant
- Registered Dietician Or Nutritionist
- Registered Nurse (RN)
- Registered Nurse Anesthetist
- Registered Respiratory Therapist
- Respiratory Care Practitioner
- Respiratory Therapist
- School Counselor
- School Psychologist
- Social Worker
- Specialty Technologist (Radiologic)
- Speech Language Audiologist
- Speech Language Audiologist Assistant
- Speech Language Pathologist
- Speech Language Pathology Assistant
- Sworn Law Enforcement Officer
- Veteran or Surviving Spouse of Veteran
- Veterinarian
- Veterinarian Assistant
- Veterinarian Technician
- Any worker employed in a company established in the State of Florida
To find out more information give us a call 786 622-2224.