The Hometown Heroes Housing Program helps Floridians achieve homeownership with zero-interest loans for down payments and closing costs.
TALLAHASSEE, Fla. — Affordable housing remains a top concern nationwide, especially in Florida, where high interest rates, limited inventory and rising home prices have made the dream of homeownership a challenge for many. Recognizing this, Florida Realtors®, the state’s largest professional trade association, has been at the forefront of advocating for solutions that make homeownership attainable for hardworking Floridians.
One shining example of these efforts is the Hometown Heroes Housing Program, launched in 2022 to help Florida’s workforce buy homes near where they work. This program provides zero-interest loans for down payments and closing costs, removing a key financial barrier that prevents many first-time buyers from entering the market.
For Tyler, a software engineer, and Madison, an ICU nurse, the program was instrumental in achieving their dream of homeownership. Just starting their careers, Tyler and Madison were ready to buy their first home but needed assistance covering upfront costs. They turned to a Real Estate Professional, a longtime family friend, to guide them through the process. The couple secured the support they needed to pay for their closing costs thanks to the agent’s expertise and the availability of Hometown Heroes funds.
“This program makes a profound difference in the lives of our neighbors,” said Gia Arvin, 2024 Florida Realtors president. “It’s about keeping hard-working professionals like Tyler and Madison in the communities where they live and work while strengthening the fabric of our neighborhoods.”
How the Hometown Heroes Housing Program works?
Borrowers can receive up to 5% of their first mortgage loan amount, with a maximum of $35,000, to assist with down payment and closing costs. This aid is structured as a 0%, non-amortizing, 30-year deferred second mortgage. While the loan is not forgivable, repayment is only required if the property is sold, refinanced, transferred or no longer serves as the primary residence. Once repaid, the funds are reinvested to support future homebuyers.
So far, the program has assisted more than 20,000 individuals and families statewide, bolstered by $300 million in funding from the Florida Legislature and an additional $36 million from the Florida Housing Finance Corporation. Its popularity has skyrocketed, with funding being reserved faster each year as demand continues to grow.
“When the program first launched, $100 million lasted about a year. The next round of funding was gone in under two months,” said Murphy Kennedy Giering, a public policy representative at Florida Realtors who focuses on housing and taxation issues. “It’s clear Floridians need this program, and we’re working hard to ensure its continued success.”
A Shared Vision for stronger communities
Real estate professionals like Edwin Gonzalez Ortiz & Elizabeth Carvajal Texidor are crucial in connecting clients to valuable resources like the Hometown Heroes Housing Program. By helping Floridians achieve their dream of homeownership, Realtors® support individual families and strengthen the communities they serve.
For Tyler and Madison, their new home represents the start of an exciting chapter. Programs like Hometown Heroes are making a real difference, one family at a time.
We have experience with the Hometown Heroes Housing Program
Edwin Gonzalez Ortiz and Elizabeth Carvajal Texidor are experienced real estate professionals dedicated to helping individuals and families achieve their dream of homeownership. With extensive knowledge of the Hometown Heroes Housing Program, they have successfully guided many clients, including teachers, healthcare workers, first responders, and veterans, through the process of accessing this valuable resource. Their expertise ensures that eligible buyers maximize the benefits of the program, such as down payment assistance and favorable loan terms, making homeownership more accessible and affordable for those who serve their communities.
@egosellshomes ¿Sabías que el Programa de Vivienda Hometown Heroes puede ayudarte a comprar tu casa con apoyo financiero para el pago inicial y los costos de cierre? 🏡 Este programa está diseñado para ayudar a los trabajadores esenciales de Florida, como enfermeros, maestros, bomberos y más, a lograr el sueño de ser propietarios de vivienda, ofreciendo préstamos sin intereses de hasta $35,000. ¡Pero eso no es todo! También contamos con otros programas diseñados para facilitarte el camino hacia la compra de tu hogar, sin importar tu situación. 🌟 Si quieres saber más sobre cómo aprovechar estas oportunidades y cuál es el mejor programa para ti, ¡contáctame hoy mismo! 💬 Estoy aquí para ayudarte a convertir tu sueño de tener casa propia en realidad. 📲 #HometownHeroes #ViviendaFlorida #CompraDeCasa #Propietarios #BienesRaíces
♬ positive, confident, present, progress, corporate VP(1518395) – KosukeKawaguchi
