(Source: South Florida Times)
MIAMI – The Florida Hometown Heroes program is now accepting applications, offering up to $35,000 to assist first-time homebuyers with down payments and closing costs.
The program offers financial support via a zero percent loan, tailored for teachers, healthcare workers, first responders, active duty military, and veterans.
Eligible participants can receive up to 5 percent of the total first mortgage loan amount, with a maximum of $35,000 and a minimum of $10,000 to cover down payment and closing costs.
The assistance is provided as a 0 percent interest, non-amortizing second mortgage, meaning there are no monthly payments required.
Repayment is only necessary when the home is sold, refinanced, or paid off.
The program also offers access to competitive market interest rates on various types of first mortgages, including FHA, VA, RD, and Conventional loans.
To qualify for the Florida Hometown Heroes Program, applicants must meet the following criteria:
- Be a first-time homebuyer or not have owned a home in the past three years.
- Work full-time for a Florida-based employer in an eligible occupation, such as healthcare, education, or public safety.
- Have an income that does not exceed 150% of the Area Median Income (AMI) for the county where they are purchasing a home.
To download an application, visit Hometown Heroes Program
