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The Florida Hometown Heroes Housing Program

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Owning a home is a dream for many hardworking individuals, especially those who dedicate their lives to serving their communities. In Florida, the Hometown Heroes Housing Program is making this dream attainable for eligible community workforce members. This program provides essential down payment and closing cost assistance to first-time, income-qualified homebuyers, enabling them to purchase a primary residence in the communities where they work and serve.

At its core, the Florida Hometown Heroes Housing Program is designed to support those who have dedicated themselves to serving others. Eligible full-time workforce members employed by a Florida-based employer are entitled to a range of benefits under this program. These benefits include lower-than-market interest rates on various types of first mortgages, such as FHA, VA, RD, Fannie Mae, or Freddie Mac loans. Additionally, participants enjoy reduced upfront fees, no origination points or discount points, and the invaluable assistance of down payment and closing cost support.

One of the standout features of the program is the provision of up to 5% of the first mortgage loan amount (up to a maximum of $35,000) in down payment and closing cost assistance. This financial support can significantly alleviate the upfront expenses associated with purchasing a home, making homeownership more accessible and affordable for eligible individuals and families.

The down payment and closing cost assistance are provided in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This means that borrowers do not need to make payments on this assistance during the loan term. However, it's important to note that the second mortgage becomes due and payable, in full, under certain circumstances, such as the sale of the property, refinancing of the first mortgage, transfer of deed, or if the homeowner no longer occupies the property as their primary residence.

It's crucial for prospective homebuyers to understand that the Florida Hometown Heroes loan is not forgivable. However, the benefits and support offered through this program can make a significant difference in achieving the goal of homeownership, especially for those who have dedicated themselves to serving their communities.

Whether it's a firefighter, law enforcement officer, teacher, healthcare professional, or any other community hero, the Florida Hometown Heroes Housing Program stands as a beacon of support and appreciation for their invaluable contributions. By providing essential financial assistance and competitive mortgage options, this program is helping to turn homeownership dreams into reality for Florida's workforce heroes.

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