We receive many questions from homebuyers about the Hometown Heroes Program, find the most common list of FAQs below. Please connect with us with any questions, or to be connected with a lender to start your application today. 

Question: Who is eligible for the Hometown Heroes Program?
Answer: Any income-eligible first-time home buyer in Florida who meets the requirements is welcome to apply. This is a new recent change as the program used to require applicants to be front-line workers like Police, Teachers, Firefighters, Military, etc.  As of 2024, the program is open to all first time homeowners who meet the requirements, regardless of occupation.  Note, that buyers must still meet all the program guidelines for their selected primary mortgage whether it’s a Conventional, FHA, VA, etc.

Question: What is the maximum amount of Hometown Heroes assistance I can expect to receive?
Answer: Buyers can receive down payment assistance equal to 5% of the new mortgage loan amount ($35,000 cap)  The maximum assistance you can receive ranges from $10,000 – $35,000 depending on your qualified loan amount.

Question: Does the Hometown Heroes grant need to be repaid? If so, when?
Answer: Yes. Although there is no monthly payment and 0% interest, the down payment assistance must always be paid in full when the home is sold, transferred or refinanced.  The loan is not forgiven.

Question: Is the Hometown Heroes Program out of funds in 2024? When will the program funding be available again?
Answer: The available funds for the program can come and go throughout the year. Sometimes the Hometown Heroes program funding may be delayed or run out, until re-appropriate by the state. Please check with us for the latest funding status.

Question: Is the Hometown Heroes Program only available in Florida?
Answer: Yes, only for Fla residents. Although there are other down payment assistance programs often available for buyers in other states. Please contact us today to check options available in your state.

Question: Do I need to take a class for Hometown Heroes?
Answer: Yes. All applicants must take an approved HUD homebuyer education course. The short class is often completed online and valid for (2) years from the date of completion. *Active military /veterans are exempt from this when using a VA mortgage. In addition, non-occupying co-borrowers are also exempt.

Question: So it’s possible to get 100% financing on a Conventional or FHA loan with this program?
Answer: Yes. FHA and Conventional loans typically require a minimum of 3.5%-5% down payment. With HTH assistance, buyers can often have all their down payment and closing costs covered. So together with the HTH funds, eligible buyers can obtain 100% financing even for FHA and Conforming loans.

Question: Can I use this Hometown Heroes to purchase an investment property?
Answer: No. The program is only to be used by eligible first-time buyers for the purchase of a primary residence. No investment property or second homes transactions are permitted. Refinance transactions are also not permitted.

Question: Would a new construction home be eligible for Hometown Heroes?
Answer: Yes, as long as the property is eligible for your selected mortgage program (FHA, VA, USDA, etc) and a primary residence. Acreage and/or vacant land is NOT eligible.

Question: Is there a minimum credit score to apply for Hometown Heroes?
Answer: Yes. All applicants listed on the loan application should have a minimum 640 credit score.

 Question: Is the Hometown Heroes funding limited each year by the state?
Answer: Yes. The state appropriates only so much funding each year, and funding can temporarily run out throughout the year until replenished. Buyers can contact us for current funding status.

Question: How do I apply for the HomeTown Heroes Program, and is there any up-front cost to do the application?
Answer: NO. There is never any up front cost to apply for this or any other down payment assistance program.  The DPA funds are provided through the state-run Florida Housing Finance Corporation. To access the funds, applicants must apply with an authorized participating mortgage lender or bank. Note, that the mortgage lender could require an up-front credit report charge when you apply in order to qualify you for the primary first mortgage (Conventional, FHA, VA, or USDA)  Please contact us 7 days a week to get started. 

Question: Does my employer have to be based in Florida?
Answer: Yes.  The business must be a Florida corporation or have a brick & mortar location in the state. The program is available to any income-approved first-time homebuyer working full-time (35 hours a week or more) for a Florida Business. * Military veterans of the US Armed Services are exempt from the first-time homebuyer and employment requirements.

Question: Where can I find the income limits for the Florida Hometown Heroes program?
Answer: Please see this link for all the 2024 Hometown Heroes income limits. The limits differ based on location/county. Please note, this applies to the gross yearly income of all applicants listed on the loan application.

Question: Can I apply for the Hometown Heroes grant after the fact for a property I already purchased?
Answer: No, the program is only for a purchase of a primary residence, funds cannot be granted after the fact.

Question: I would like to start my loan application, how do I apply for the Hometown Heroes program?
Answer: Just get in touch with us, and we'll direct you to the right person who can assist you throughout the process!