First-Time Buyer Downpayment Assistance in Florida
The Florida Hometown Heroes, State of Florida program offers up to $35,000 in down payment and closing cost assistance to eligible first-time homebuyers. These programs have been in place for a while, and the state has just earmarked another $50 million for this round.
When purchasing a home with this program, the down payment funds are a 0% interest secondary mortgage that is deferred. You’ll have to repay it when the house is sold, refinanced, paid off, or the deed is transferred.
About the 2025 Florida Hometown Heroes Program
Increased Funding
The program will offer up to $35,000 in down payment and closing cost assistance or 5% of the loan amount.
Eligibility
You are eligible if you work full-time (35+ hours a week) and are employed by a Florida-based company. Entitled to this program are healthcare workers, school employees, public safety employees, childcare employees, and service members (including Reserves, National Guard, and Veterans).
Income Limits
Income limits are up to 150% of the median income by county and can vary by family size as well. In Seminole and Orange County, the income limits are $144,750.
Loan Flexibility
The program allows you to use FHA, VA, USDA, and Conventional loans, so you have lots of options to save even more money on your mortgage. You must live in the home as your primary residence.
Tax Benefits
Buyers can be exempt from documentary stamp and intangible taxes on both first and second mortgages. These are taxes a buyer must pay when purchasing a home with a mortgage, and they add a considerable amount to closing costs.
Homebuyer Education
You may need to complete an approved homebuyer education course. This is easy to do online.
Credit Score
Usually, a minimum credit score of 640 is required.
For More Information about Florida Hometown Heroes
Find more info here at the Florida Hometown Heroes website.
Is Florida Hometown Heroes Right For Me?
If you’d like to buy your first home, this opportunity might work for you. These funds are FIRST-COME, FIRST-SERVE, act quickly to take advantage of this credit. How do you find out if this program is something you want to take advantage of? The process is easy, following these 4 steps.
First, talk to a mortgage professional
Mortgage Brokers will check to see if you qualify for the program and get you started with the process. There are many mortgage professionals out there, but Rayce Robinson is one I recommend working with.
Second, find a home.
Go shopping (with me as your shopper!) and get under contract on a primary residence.
Third, apply for down-payment assistance.
Your mortgage professional submits the necessary documentation to reserve the funds for you once you’re under contract.
Lastly, close on your new home!
The down payment assistance is applied at closing.
I can’t emphasize enough, that if you are at all interested, you should talk to a mortgage professional as soon as possible. Of course, call me, and I can help point you in the right direction. As always, my number is 407-687-8908.
And if you’re not in the market as a first-time homebuyer, please pass this email on to someone who might be. Thanks as always!
