Great news, folks! A remarkable opportunity has emerged in Florida for potential homebuyers seeking downpayment assistance. The Florida Hometown Heroes program, which previously catered exclusively to first-time homebuyers in specific fields, has recently undergone significant changes. Now, the program is open to all first-time homebuyers employed by Florida-based companies. In addition to this broader eligibility, the program has boosted its downpayment assistance to an impressive 5% of the purchase price or up to $35,000. Act quickly though, as funds are limited, and once they are exhausted, the program will conclude. In this blog post, we'll delve into the details of this amazing opportunity, providing you with vital information on how to take advantage of it.
Program Details: Formerly, the Florida Hometown Heroes program exclusively served first-time homebuyers in specific occupations, including law enforcement, medical personnel, educators, and various other community-based careers. Under this arrangement, eligible individuals could receive 2% of the purchase price or up to $20,000 as downpayment assistance, in the form of a 0% interest loan. However, the recent update has expanded the program's reach, making it available to all first-time homebuyers in Florida. It is important to note that "first-time homebuyer" now encompasses individuals who may have previously purchased a home as well. Furthermore, the program has increased the maximum downpayment assistance to an impressive 5% of the purchase price or up to $35,000. Those who are interested in taking advantage of this program will still need to be approved for a standard mortgage, but this allows significantly more individuals the ability to purchase the largest asset of their lives.
Limited Funding: The last round of funding for the Florida Hometown Heroes program lasted just a couple of months. However, there is excellent news for aspiring homebuyers. The program has been renewed, with fresh funding made available on 07/01. Nonetheless, it is crucial to act promptly to avoid missing out on this invaluable opportunity. Once the allocated funds are depleted, the program will come to a close.
Seize the Opportunity: If you are currently in the process of purchasing a home or are on the verge of doing so, it is essential to consider the Florida Hometown Heroes program. Opportunities like this are incredibly rare, and it would be a shame to let it slip away. To gain a comprehensive understanding of the program's requirements and benefits, we recommend giving us a call as we can provide an in-depth explanation of the program. If you are interested in taking advantage of this downpayment assistance program while it is still available, don't hesitate to reach out.