About 12% of the $100M allocated by Fla. lawmakers for the Hometown Heroes homebuying program has been dispersed so far, according to Gov. Ron DeSantis.
TALLAHASSEE, Fla. –Gov. Ron DeSantis announced that $12.1 million has been granted to help homebuyers since the Hometown Heroes housing assistance program launched on June 1.
The Hometown Heroes housing program – passed this year by the Florida Legislature, signed by DeSantis and strongly backed by Florida Realtors® – provided $100 million to the Florida Housing Finance Corporation (Florida Housing) to help the state’s hometown heroes buy a home. A number of occupations qualify for aid, such as law enforcement officers, educators, healthcare professionals, and active military or veterans who are purchasing their first home in Florida. To date, the $12.1 million has helped 843 families throughout the state.
“Our law enforcement, first responders, nurses, and other hometown heroes work hard every day to take care of their communities,” says DeSantis. “I’m proud that we have been able to give back by helping 800 families buy their first home in the communities they serve, and I look forward to seeing this project grow to help thousands more in the coming months.”
“In less than two months, we have provided hundreds of families with the necessary financial assistance to purchase their first home,” says Trey Price, executive director of Florida Housing. “We’re grateful to Governor DeSantis and the Florida Legislature for their dedication to housing efforts and look forward to continuing to see the positive impacts of this program.”
The Hometown Heroes program provides Florida’s frontline community workers in more than 100 eligible professions with down payment and closing cost assistance to help purchase a primary residence in the communities where they work. Eligible homebuyers will receive up to 5% of their first mortgage loan amount (up to a maximum of $25,000) in down payment and closing cost assistance in the form of a 0%, non-amortizing, 30-year deferred second mortgage.
To qualify for the program, homebuyers must connect with one of Florida Housing’s participating loan officers, have a minimum credit score of 640, provide certification for one of the eligible occupations, and meet the income threshold for their county. While they must be first-time homebuyers, the rules are flexible if a hometown hero has not owned a house in the past three years.
© 2022 Florida Realtors®