The Hometown Heroes program was expanded to allow more hardworking Floridians to utilize this assistance when purchasing their first home in the communities that they serve. Last year, the program provided more than $100 million for Florida’s hometown heroes. This year, the Hometown Heroes Program was included in the Live Local Act, which was signed by Governor DeSantis in March. For more information on the Live Local Act, click here.
Florida Sees Record Applicants for Hometown Heroes Homeownership Assistance Program
Florida’s Hometown Heroes down payment assistance program reached $20 million in applications within the first week of launching the program’s second year of funding, which includes $11 million in applications on the first day alone.
“In its first year of funding, the Hometown Heroes Program helped more than 6,700 first responders, veterans, nurses, and educators purchase homes in the communities they serve,” said Governor Ron DeSantis. “Now that the program is expanded, I look forward to serving even more Floridians in the coming year.”
“The Hometown Heroes program has quickly become Florida Housing’s most popular homeownership assistance program,” said Mike DiNapoli, Executive Director of Florida Housing Finance Corporation. “Down payments and closing costs are one of the biggest barriers to homeownership for a lot of families and with these updated guidelines we are already seeing an increase in interest as more hardworking individuals are now eligible for this assistance.
The program is now available to all Florida hometown workers in any occupation who earn less than 150% of their county’s area median income (AMI). Additionally, hometown heroes can now apply for a maximum down payment assistance amount of $35,000.
Governor DeSantis announced the initial launch of Hometown Heroes in June 2022 and in just one year all of the funds initially allocated to it were expended, providing 6,753 families with the necessary financial assistance to purchase their first home. After witnessing this success, the Florida Legislature allocated $100 million in additional funding for the program through the Live Local Act. To be eligible for the Hometown Heroes program, homebuyers must have a minimum credit score of 640, be a first-time homebuyer, and earn less than 150% AMI according to their local county data. To get started, buyers must connect with one of Florida Housing’s participating loan officers.
For more information on the Florida Hometown Heroes Housing Program or to connect with a loan officer in your area, please visit www.floridahousing.org/hometownheroes.