Florida Hometown Heroes Program

Down Payment and Closing Cost Assistance to First-Time Homebuyers.

Ask us how you can benefit by working with us on your home purchase.

Florida Hometown Heroes Program: Down Payment Assistance for Eligible Homebuyers

At AAA Capital Funding, we are committed to helping you achieve your dream home with a variety of mortgage products tailored to your needs. This section provides detailed information about the Florida Hometown Heroes Program, which offers financial assistance to eligible individuals, including first-time homebuyers and frontline workers.

The Florida Hometown Heroes Program is available across all loan types, including FHA, Conventional, VA, and Non-Conventional mortgages.

Benefits of the Florida Hometown Heroes Program:

• First-time homebuyer status required

• Full-time employee of a Florida-based employer (effective July 1, 2023)

• Income and loan limits apply

• Up to 5% in assistance for down payment and closing costs (up to $35,000)

• Assistance provided as a 0% interest, 30-year deferred second mortgage (due upon property sale, refinancing, transfer of deed, or when the property is no longer your primary residence)

Florida Hometown Heroes Quick Facts:

• Minimum Credit Score: 640

• Maximum Debt Ratio: 50%

• Minimum Down Payment: 0% (for VA loans)

• Pre-Payment Penalty: None

Instant Quote – Contact Us Today!

• Local: 954-390-7994

• Toll-Free: 1-888-601-8344

• Apply Online

Florida Hometown Heroes Program Requirements:

To qualify for the Florida Hometown Heroes Program, certain criteria must be met. Key requirements include:

• First-time Homebuyer: Must meet the IRS definition of a first-time homebuyer, which means you have not owned a home as your primary residence in the last three years. Veterans, active-duty service members, and widows of deceased veterans are exempt from this requirement.

• Full-Time Employment: You must be employed full-time by a Florida-based employer (as of July 1, 2023).

• Primary Residence: The property purchased must be your primary residence.

• Income and Loan Limits: You must not exceed the income and loan limits for the county in which you plan to buy.

Credit Requirements:

You must meet the credit requirements based on the type of mortgage loan selected (Conventional, FHA, VA, etc.). Speak to a AAA Capital Funding loan officer for more specific guidance.

Homebuyer Education:

Homebuyer education is required, and we can assist you with completing this process.

How to Qualify for Down Payment Assistance:

• You may receive up to 5% of your loan amount in down payment and closing cost assistance, with a maximum limit of $35,000.

• The assistance is provided as a deferred second mortgage with no interest and no monthly payments, due only upon the sale of the property, refinancing, transfer of deed, or if the property is no longer your primary residence.