Florida Hometown Heroes: Down Payment Help for Full-Time Florida Workers
Florida Hometown Heroes is a state program run by Florida Housing Finance Corporation. It lends eligible full-time Florida workers a set percentage of their first mortgage amount, between a minimum and a maximum that Florida Housing sets, as a 0% second mortgage with no monthly payment. You pay it back in full when you sell, refinance, pay off the first mortgage, sign over the deed or stop living in the home. Funding is reserved one loan at a time and can run out, so we check what's available the day you're ready to buy.
How much will Hometown Heroes give me?
The assistance is a set percentage of your total first mortgage amount, including FHA's upfront mortgage insurance when it's financed, with a minimum so smaller loans still get a meaningful amount and a maximum on larger ones. Florida Housing adjusts those figures from time to time, so call 888-601-8344 and we'll quote today's numbers on the home you want.
Paired with seller-paid closing costs, many buyers close with very little of their own money. Call 888-601-8344 and we'll work out your exact numbers.
Is it a grant?
No. It's a 0% second mortgage, and it isn't forgiven. You get it at closing and repay it later, without interest.
Do I make payments?
No. It's non-amortizing, with no monthly payment for its 30-year term.
When is it due?
When you sell, refinance, pay off the first mortgage, sign over the deed or stop living in the home as your primary residence.
Who qualifies for Hometown Heroes?
Eligibility starts with your employer, not your job title. At least one borrower who will live in the home has to work full-time, at a physical Florida location, for an employer in one of these categories. A receptionist at a hospital qualifies. A nurse working for a staffing agency outside these categories may not, so tell us exactly who signs your paycheck.
Healthcare
Hospitals, physician practices, assisted living facilities and mental health facilities.
Education
K-12 public, private, charter and magnet schools, including Florida Virtual School.
First responders
Fire departments and ambulance services.
Public safety
Law enforcement agencies, correctional and juvenile detention facilities, and emergency operations centers.
Courts
County, state and federal courts, plus State Attorney and Public Defender offices.
Childcare
Licensed childcare facilities that meet Florida's childcare statutes.
Military and veterans
Service members qualify no matter who employs them, including the reserves, the Coast Guard and its reserves, and the Florida National Guard. Veterans qualify with a full-time job at any Florida-based employer.
- Remote workers aren't eligible. Hybrid workers qualify if they report to a Florida location at least three days a week.
- Self-employed contractors can qualify when they work full-time for one eligible Florida employer and can document it with 1099s.
- You have to be working full-time when the funds are reserved. An offer letter doesn't count yet.
What else do I have to meet?
Do I have to be a first-time buyer?
- Yes, unless you're exempt. That means no ownership interest in a primary residence during the past three years.
- Veterans discharged under conditions other than dishonorable are exempt.
- Buyers in federally designated targeted areas are exempt on the bond version of the program.
- The home has to be your primary residence, and you move in within 60 days of closing.
What credit, income and debt limits apply?
- A minimum credit score set by Florida Housing, with a higher minimum on a manually underwritten loan.
- Household income and the loan amount under your county's limits, which vary by county and household size.
- A debt-to-income limit set by the program, with more room on an automated approval than on a manually underwritten loan.
- One borrower completes a homebuyer education course. Online courses count.
Which first mortgages can I pair it with?
Hometown Heroes sits behind a first mortgage from Florida Housing's program lineup. For most of our buyers that's FHA, because it pairs a 3.5% down payment with the most flexible credit rules. Buyers earning at or below 80% of the area median income get reduced mortgage insurance on the Conventional options.
FHA
VA
USDA-RD
Conventional (HFA Preferred or HFA Advantage)
How does the process work, and how fast does it move?
- Call and find out if you qualify. We check your employer category, your county's income and loan limits, and your credit. It takes under ten minutes.
- Get pre-approved, and finish the homebuyer education course while you shop.
- Sign a purchase contract. Hometown Heroes money can't be reserved until there's a fully executed contract.
- We reserve your funds and lock the rate. From that day the loan has 60 days to close and be purchased by the program, so we set the closing date with that clock in mind.
- Close. The second mortgage records behind your first, with nothing due each month.
What's the catch?
There are three, and you should know them before you sign anything. First, it's a loan, not a gift. Sell in five years and the full amount comes out of your proceeds. Second, the first-mortgage rate on the program is set by Florida Housing, not by the open market, so it can land above what you'd get without assistance. We price your loan both ways and show you the monthly difference, so you can decide whether the cash up front is worth it. Third, the money is limited. When the year's funding is spoken for, the program stops taking reservations until the state adds more.
For most first-time buyers who are short on cash, it's still the fastest way to get into a home without waiting years to save. We’ll run it against your numbers on the first call. See other Florida first-time buyer programs and closing cost assistance.
Find out how much you'd get
Tell us who you work for, which county you're buying in and your price range. In under ten minutes you'll know whether you qualify and what the assistance would cover.
Or text
Want to know what you qualify for?
One call, under ten minutes, no application and no credit pull. We'll run your real numbers and show you what you qualify for and what the payment comes to.
AAA Capital Funding, Inc. · NMLS #374739 · Jason J. Sarji, NMLS #374700