Short answer: Florida Hometown Heroes is a state program run by Florida Housing that helps eligible full-time workers buy their first home with down payment and closing cost assistance of up to 5% of the first mortgage, between $10,000 and $35,000. It is a 0% deferred second mortgage, not a grant: you repay it when you sell, refinance or stop living in the home.
Who it is for
The program is aimed at people employed full time by a Florida-based employer in roles such as health care, school staff, first responders, public safety and court employees, and child care, along with active-duty servicemembers and veterans employed full time in Florida. Income and purchase price limits apply by county, and the program is for first-time buyers as Florida Housing defines them. Florida Housing publishes the current eligible occupations and income limits, so confirm your eligibility there.
How the assistance works
- Amount: up to 5% of the first mortgage loan amount, with a minimum of $10,000 and a maximum of $35,000.
- Form: a 0% interest, non-amortizing, 30-year deferred second mortgage.
- Repayment: due when you sell, refinance or transfer the home, or when it is no longer your primary residence. It is not forgivable.
- First mortgage: paired with an FHA, VA, USDA Rural Development or conventional loan through a participating lender.
How to apply
You do not apply to the state directly. You work with a lender that participates in Florida Housing's programs, which checks eligibility and reserves the assistance. Funding is released in cycles, so ask the lender whether funds are currently available before you count on them. There is no cost to apply for the assistance itself; be wary of anyone charging a fee for access.
Other places to look
Florida Housing runs other first mortgage and down payment programs, and several South Florida counties and cities offer their own purchase assistance with separate rules. A participating lender can tell you which ones you can combine.
Frequently asked questions
How much is Florida Hometown Heroes?
Up to 5% of the first mortgage loan amount, with a minimum of $10,000 and a maximum of $35,000, per Florida Housing.
Do you have to pay back Hometown Heroes?
Yes. It is a 0% deferred second mortgage that is repaid when you sell, refinance, transfer the home or stop using it as your primary residence. It is not forgivable.
How do I apply for Florida Hometown Heroes?
Through a lender that participates in Florida Housing's programs. The lender checks eligibility and reserves the funds, which are released in cycles.
General information, not legal, tax or financial advice. Confirm details with your agent, lender, attorney or insurer.