Florida Hometown Heroes Housing Program Expanded for 2023-2024
June 26, 2023 | Blog
In it’s first year, the Florida Hometown Heroes program provided $100 million in down payment and closing cost assistance to first-time, income-qualified homebuyers.
The money went to veterans, active-duty military members, nurses, teachers, law enforcement officers and more. Since the program launched in June 2022, the program has helped 6,753 hometown heroes buy a house where they can raise their families.
The 2023 Florida Legislature recently expanded the program and added an additional $100 million, which becomes active on July 1, 2023.
The “Live Local Act” made some changes to the Hometown Hero Program, including an expansion of eligibility requirements and the maximum loan amount offered.
After the July 1 start:
- The maximum down payment assistance amount will increase to $35,000, or up to 5% of the first mortgage loan amount
- The occupational requirement will no longer apply – meaning self employed borrowers can now qualify
- Buyers must work a minimum of 35 hours a week or more to be considered full time.
- Buyers must work for an employer that is a Florida based company.
To get started, contact us to connect you with one of Florida Housing’s participating loan officers.