On Tuesday, Gov. Ron DeSantis announced that the Hometown Heroes down payment assistance program reached $20 million in applications within the first week of launching the program’s second year of funding, which includes $11 million in applications on the first day alone.
With the support of DeSantis and Legislature, the Hometown Heroes program was expanded to allow even more hardworking Floridians to utilize this assistance when purchasing their first home in the communities that they serve. Last year, the program provided more than $100 million for Florida’s hometown heroes. This year, the Hometown Heroes Program was included in the Live Local Act, which was signed by DeSantis in March.
“In its first year of funding, the Hometown Heroes Program helped more than 6,700 first responders, veterans, nurses, and educators purchase homes in the communities they serve,” said DeSantis. “Now that the program is expanded, I look forward to serving even more Floridians in the coming year.”
“The Hometown Heroes program has quickly become Florida Housing’s most popular homeownership assistance program,” said Mike DiNapoli, the executive director of Florida Housing Finance Corporation. “Down payments and closing costs are one of the biggest barriers to homeownership for a lot of families and with these updated guidelines we are already seeing an increase in interest as more hardworking individuals are now eligible for this assistance. We are honored to be entrusted with the resources to administer this program and proud to support Floridians on their path to homeownership.”
The program is now available to all Florida hometown workers in any occupation who earn less than 150 percent of their county’s area median income (AMI). Additionally, hometown heroes can now apply for a maximum down payment assistance amount of $35,000.
DeSantis announced the initial launch of Hometown Heroes in June 2022 and in just one year all of the funds initially allocated to it were expended, providing 6,753 families with the necessary financial assistance to purchase their first home. After witnessing this success, the Florida Legislature allocated $100 million in additional funding for the program through the Live Local Act. To be eligible for the Hometown Heroes program, homebuyers must have a minimum credit score of 640, be a first-time homebuyer, and earn less than 150 percent AMI according to their local county data. To get started, buyers must connect with one of Florida Housing’s participating loan officers.
Author
