Homeownership has long been a cornerstone of the American dream. It represents stability, security, and a sense of belonging. However, for many hardworking individuals in our community, the dream of owning a home has seemed out of reach. That is until the Florida Hometown Heroes Housing Program stepped in, offering a lifeline to those who serve and protect our community.
One of the main challenges faced by our community workforce is the rising cost of housing. As property values continue to soar, many hardworking individuals find themselves priced out of the market, unable to save enough for a down payment or qualify for a mortgage. The Florida Hometown Heroes Housing Program addresses this issue head-on by offering affordable housing options tailored specifically to the needs of our community heroes.
The Florida Hometown Heroes Housing Program is a groundbreaking initiative that aims to make homeownership affordable for eligible community workforce members. This innovative program recognizes the dedication and sacrifice of our local heroes, including teachers, firefighters, police officers, healthcare workers, and other essential personnel, by providing them with the opportunity to purchase a home at a reduced cost. The program’s requirements are designed to make it easier for eligible borrowers to secure a mortgage. And if you can credit qualify, the possibilities are endless!
This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community in which they work and serve.
Program Details:
Eligible full-time workforce, employed by a Florida-based employer can receive lower than market interest rates on an FHA, VA, RD, Fannie Mae, or Freddie Mac first mortgage, reduced upfront fees, no origination points or discount points and down payment and closing cost assistance.
- • First-time homebuyer counseling is required to be completed by all borrowers utilizing income from an approved occupation.
- • Borrowers must not exceed the maximum income limit requirements for the county in which the property is being purchased.
- • Minimum credit score of 640.
- • Borrowers can receive up to 5% of the first mortgage loan amount (maximum of $35,000) in down payment and closing cost assistance.
- • Down payment and closing cost assistance are available in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed, or if the homeowner no longer occupies the property as his/her primary residence.
- • The Florida Hometown Heroes loan is not forgivable.
So, if you’re ready to say goodbye to renting and hello to homeownership, this could be your chance. Don’t miss out on this amazing opportunity! Click on our application form today and take that first step towards becoming a proud homeowner.
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Kaddijha A.
Sodo Lending Home Loans for every stage of your life.