The “Hometown Heroes Loan Program” is a type of financial assistance initiative often implemented by local governments or lending institutions to provide support to individuals who serve the community in essential roles. These roles typically include firefighters, law enforcement officers, teachers, healthcare workers, and emergency medical technicians, among others.

The program typically offers special benefits such as lower interest rates, reduced down payment requirements, or waived fees for qualifying applicants who are purchasing homes in the community they serve. The intention behind such programs is to acknowledge the vital contributions of these individuals to the community and to make homeownership more accessible to them, considering the often modest salaries associated with these professions compared to the cost of living.

Each program may have its own specific eligibility criteria and terms, so it’s essential for potential applicants to review the details carefully and ensure they meet the requirements. These programs can be valuable resources for those who qualify, helping them achieve their dreams of homeownership while continuing their essential work in the community.

The Florida Hometown Heroes Loan Program will soon provide down payment and closing cost assistance to ALL BUYERS who have not owned a home as a primary residence in

Minimum 640 credit score

Available in all Florida counties

Eligible for Conventional (Freddie Mac only), USDA, FHA, and VA loan types

Must hold a full-time position with a Florida based employer

5% of total loan amount available (Minimum of $10,000, Maximum of $35,000)

Funds can be used for down payment and closing costs

DPA 5% of total loan amount. Minimum is $10,000 and max is $35,000. No payment or interest. 

Income is application ONLY.  Not household

We can use certain income types and ignore others.  We can use salary and commission but ignore OT and Bonus income.  Or ignore everything except salary.  But we cannot use a portion of an income type.  It is all or none.

One borrower must be full-time and the employer will determine what full-time status is.  Previously it was a minimum of 35 hours per week.

Same full-time borrower must also work for an employer that has brick and mortar in FL.  Borrowers that work from home must ‘report’ to that office or work out of that specific location.  Cannot simply qualify if the employer has a location in FL.

SE Borrowers must have third party confirmation of full-time status. Borrower’s CPA, bookkeeper or tax preparer may provide a letter confirming full-time status.

Non-occupying Co-Signer income counts toward overall income limit

Spouse can be left off the application to qualify since it is application income only and not household income

Fannie Mae Conventional no longer permitted. 

When going Freddie Mac Conventional, below 80% AMI borrowers receive about .25% better in rate and comes with reduced MI.