If you are shopping for a home in Florida, and require assistance making your down payment or paying your closing costs, you can apply for the Hometown Heroes program. This program returned to FL as of July 1st this year, and is currently accepting applicants.
Hometown Heroes is an income-based down payment assistance program offered to first-time homebuyers in FL by the Florida Housing Finance Corporation. It provides eligible homebuyers with a loan of up to 5% of the amount of the home loan. There is a $35,000 cap. You may apply these funds to your down payment, your closing costs, or both.
Here is what to know about the Hometown Heroes program:
With down payment assistance through Hometown Heroes, you may be able to buy a home now, instead of waiting to save up enough for your down payment and closing costs.
Since the assistance loan is deferred for 30 years, you do not need to worry about making repayments until you have likely paid off your first mortgage. This ensures that buying a home is affordable now, and remains so over the term of your home loan.
Not sure if you are eligible for the Hometown Heroes program? The easiest and fastest way to find out is to apply for a mortgage with Lending Bankers Mortgage. When you have your consultation with us, we can assess:
We can help you figure out which type of mortgage is suitable for you, and will help you qualify for the Hometown Heroes program.
If you do qualify for Hometown Heroes, we can help you apply. But even if you do not, we can help you look into other options for overcoming down payment barriers (such as applying for a mortgage with a low down payment requirement).
If you are ready to schedule your consultation, please give us a call at (786) 220-1100. We can help you buy a home in Miami or anywhere in Florida.
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Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.
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