Florida Hometown Heroes housing program offers up to $25,000 to help you buy your first new home

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Hometown Heroes program offers up to $25,000 to help you buy a home in Florida


The Florida Hometown Heroes housing program begins June 1 and has $100 million to help you put a down payment on your first home. However, only certain professionals are eligible for this benefit, so check to see if you qualify.

Mortgage rates have already surpassed the 6% threshold and are now at their highest level since the lows reached during the pandemic that helped fuel the housing boom. 


qualifications to buy a house in florida


In Florida, there's a program called Hometown Heroes, which helps workers in the top 50 occupations buy their first home. This program provides up to $25,000 for a down payment and helps with interest and closing costs. This way, they can offset rising mortgage interest rates, which comes at a time when property prices are starting to tighten and fall.

The price of a home in Miami-Dade fell in July by $9,000 to $570,000, while the price of a condo fell 7% from the previous month to $370,000.

At the same time, many experts believe the fall months are a good time to buy because there is less competition. Parents prefer to wait until spring or summer so as not to interrupt their children's school year, while sellers who are determined to sell their home want to do so before the holidays.

In this climate of opportunity, a first-time buyer assistance program like Florida Hometown Hero can bring hope to those who are stymied by the high cost of buying a home.


A new Florida program is helping professionals buy their first home.

"This is a $100 million program that will provide over 50 different professions with down payment and closing cost assistance when buying their first home," announced Florida Governor Dr. John H. Hometown Hero.

The initiative, called Florida Hometown Heroes Housing, begins June 1 and involves 1,000 lenders.

However, only certain professionals are eligible, "to support the people in our communities who support us, and that means people in uniform," Said Ron De Santis.

To qualify for the program, individuals must have a credit score of 640 or higher, be certified in their profession and have an income that meets the median income of the county in which they live.

The program approves up to 5% of the mortgage loan amount, up to a maximum of $25,000, which can be used for the down payment on the home or closing costs.

These are eligible professionals:

- Physicians: Anesthesiologists.

- Dentists.

- Veterinarians.

- Law enforcement officers.

- 911 operators.

- Firefighters.

- Paramedics.

- Emergency medical technicians.

- Teachers.

- School psychologists.

- Registered nurses.

- Licensed practical nurses.

- Home health nurses.

- Massage therapists.

- Active duty military members relocating to Florida.

- Surviving spouses of deceased veterans.


For a complete list of professionals who qualify for Florida Hometown Hero status and the documents they must submit, visit floridahousing.org. FLORIDA HERO PROGRAM ASSISTANCE ▪ Eligible workers can receive lower interest rates on mortgages guaranteed by FHA, VA (for veterans) and Fannie Mae and Freddie Mac, down payment assistance and closing costs. 

Buyers can receive up to 5% of their first mortgage loan amount (up to a maximum of $25,000), which can be used for down payment and closing costs.

Down payment and closing cost assistance is available in the form of a non-amortizing 30-year, 0% interest second mortgage loan. This second mortgage must be paid in full at the time of sale of the property, refinance of the first mortgage, transfer of ownership, or if the homeowner no longer has the home as their primary residence.

Each county also has an income limit to qualify for a Hometown Hero loan (in Miami-Dade County, the limit is $146,250) and, for an FHA loan, it cannot be more than $460,000, and for a VA loan, it cannot be more than $647,200. Miami also has a first-time homebuyer assistance program that provides a deferred loan for closing costs and down payment. The price of the home cannot exceed $352,000 and there are also family income limits. For more information and to download the application for down payment assistance for a home in Miami go to the following link: 

https://www.miamigov.com/Housing-Assistance-Recovery/Home-Ownership/Apply-for-First-Time-Homebuyer-Assistance.

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