What is the Florida Hometown Heroes Program?


This is an incredible mortgage program that lets first-time buyers do 0% down to buy a home if they are employed in an eligible profession.  Those who haven’t owned a home in 3 years are also eligible.


What professions are eligible?


Medical Professionals, Law Enforcement/First Responders and Teachers (there are 100 or so acceptable professions in total under these categories)


What kind of loans can be used with it?


Conventional, FHA and VA


What are the credit score requirements?


Buyers have to have at least a 640 middle credit score.


On what kind of properties can it be used?


Single Family Homes, Condos, Townhomes and 2-4 unit homes (as long as the buyer is occupying one of the units)


How does it work?


The buyer will do a Conventional, FHA or VA first mortgage.  They will get a concurrent 2nd loan of up to 5% of the purchase price (not to exceed $25k) which can go towards down payment and closing costs.  The 2nd loan is a 0% loan with no payment schedule.  It must be paid off when the property is sold, the first mortgage is refinanced, if the buyer moves out of the property or when it hits the 30-year mark.