Do I need to be a first-time homebuyer to qualify?

Yes, all occupying borrowers on the loan application must be first-time homebuyers, unless qualifying under the veterans exemption.

How much money can I get to help me buy a home?

All qualified buyers can receive 5% of the loan amount, up to a maximum of $35,000 and a minimum of $10,000 for down payment AND/OR closing cost assistance.

Do l have to pay the money back?

YES, the entire amount of funds gets paid back in full — but not until the home is sold, the mortgage is refinanced/paid off, OR until you no longer occupy the property.

Is the Hometown Heroes program ONLY for law enforcement, first responders, teachers, veterans, or active-duty military?

NO! But, you must work for an eligible Florida-based employer that has a physical location in the state.

What is the minimum credit score to qualify?

640

What type of mortgage is it?

It's a conventional, FHA, VA, or USDA mortgage loan — just like it would be for any other transaction. They are all standard 30-year fixed-rate mortgages.

Are there income restrictions?

Yes, the income restrictions vary from county to county and will be based on where the actual home is located.

What is the definition of "first-time homebuyer"?

Florida Housing states: First-time homebuyer means, except for borrowers purchasing in federally designated targeted areas and for certain veterans eligible for the Veterans' Exception, the buyer must have had no present ownership interest in a principal residence at any time during the three-year period prior to the date on which the mortgage loan is executed.

*The second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed or if the homeowner no longer occupies the property as their primary residence.