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$0 FUNDS AVAILABLE.
The Florida Hometown Heroes Fund is currently depleted.
SIGN UP BELOW TO BE NOTIFIED WHEN FUNDS ARE REPLENISHED. ✅
Additional funds coming soon in 2024.
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DOWN PAYMENT ASSISTANCE FACTS:
DOWN PAYMENT ASSISTANCE AMOUNT:
$10,000 - $35,000
Guidelines effective July 1, 2024
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HAVE A QUESTION? MESSAGE US TODAY »
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GET PRE-APPROVED FOR THIS PROGRAM TODAY »
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FIRST-TIME HOMEBUYERS: Applicants must be a first-time homebuyer *OR* must not have owned a home in the most recent 3 years.
Veterans and Active Duty Service members do not need to be first-time homebuyers to qualify.
CREDIT SCORE: All applicants must have a middle credit score of 640 or higher. (660 for Manufactured Homes)
INCOME LIMITS: Applicant(s) total income must be at or below the County limit where the home being financed resides. For instance, Hillsborough, Pinellas, and Pasco Counties, the maximum income to qualify is $143,250/year. Your county may vary, so be sure to check the Florida income limits chart below.
CHECK FLORIDA INCOME LIMITS CHART »
OCCUPANCY: This program is designed for owner-occupied homes only. This program cannot be used to finance second/vacation homes, or investment properties.
LOAN APPROVAL: Applicants must qualify for one of 4 different traditional mortgage loan programs:
Your Loan Originator can help you determine the right program for your needs and goals.
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NOTE: The Hometown Heroes Down Payment Assistance cannot be combined with our Unconventional/ Non-traditional loan programs such as Bank Statement Loans, 1099 Income Programs, Profit & Loss Statement Loans, most Asset-based loan programs, Portfolio loans, etc.
See loan originator for loan program eligibility questions.
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The Florida Hometown Heroes (Version 2), which launched July 2023, began with $100 MILLION in Available Down Payment Assistance.
When the funds are gone, the program will not function until more funds have been added to the fund.
We do not know when--or if--the funds will be replenished, so be sure to act quickly if you're serious about buying your first home.
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$900K
as of 12/20/2023
AVAILABLE HEROES RESOURCE FUNDS REMAINING
FUNDS WILL RUN OUT SOON.
As of 11/06/2023, the Florida Hometown Heroes Program Down Payment Assistance Fund was replenished with $36 Million in Down Payment Funds.
The funds are allocated on a first-come/ first-serve basis. You must be under contract on a home to reserve your funds.
CALL US TODAY TO GET THE PROCESS STARTED.
The Florida Hometown Heroes has launched July 2024, began with a starting fund of $100 MILLION in Available Down Payment Assistance.
When the funds are gone, the program will not function until funds have been replenished.
There is no timeline for when new funds will be replenished, so be sure to act quickly if you're serious about buying your first home!
$45 MILLION
AVAILABLE HEROES ASSISTANCE FUNDS REMAINING AS OF 07/26/2024
FUNDS CAN BE RESERVED AS EARLY AS JULY 1, 2024
Funds are limited, and are issued on a first-come/first served basis. to reserve your funds, you must be preapproved for your new mortgage and be under contract on a home. We coordinate the down payment assistance funds for you!
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✅ SIGN UP BELOW TO BE NOTIFIED WHEN FUNDS ARE REPLENISHED.
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4
Hometown Hero Loan Programs:
Each loan program comes with the Hometown Heroes down payment assistance. If approved, you may receive up to $35,000 in Down Payment Assistance. Use the calculators to determine how much down payment you may receive.
Not sure which program is right for you? Your loan originator can help you determine the best loan program for your needs and goals. We're here to help!
/mortgagemarvel/Conventional-2.png "Private Client")
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Term: Choice of 30 Year Fixed, 20 Year Fixed, 15 Year Fixed
Minimum Down Payment: 3% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Manufactured Homes)*
*We can approve Conventional loans down to a 620 score **outside of the Hometown Heroes program and with no down payment assistance.
Maximum Income Limits by County: See Chart »
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $766,550
Occupancy: Owner-occupied Primary Residence Only. Hometown Heroes Down Payment Assistance cannot be used for Second/Vacation Homes or Investment Homes.
Prepayment Penalties: None
/mortgagemarvel/FHA-2.png "Private Client")
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Term: 30 Year Fixed
Minimum Down Payment: 3.5% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Manufactured Homes)*
*We can approve FHA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Maximum Income Limits by County: See Chart »
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, 2-4 Unit Multi-Family Homes, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $498,257
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
/mortgagemarvel/VA-2.png "Flex")
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Term: 30 Year Fixed
Minimum Down Payment: No down payment required with sufficient VA Entitlement. Like all VA loans, the Veteran must have sufficient VA loan Entitlement.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Mobile Homes)*
*We can approve VA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Income Limits by County: N/A (Veterans are exempt)
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, 2-4 Unit Multi-Family Homes, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $766,550*
* This is a Florida Hometown Heroes restriction. VA loans technically have no upper loan amount limit. We can approve VA loans ** outside of the Hometown Heroes program but with no down payment assistance.
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
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Term: 30 Year Fixed
Minimum Down Payment: 0% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Mobile Homes)*
*We can approve FHA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Income Limits - USDA loans consider the total household in the approval process and there are limits that vary by County. For most Florida Counties, the limit is $110,650 for 1-4 Person Households OR $146,050 for 5+ person Households.
Click here for complete chart of Florida Counties »
Eligible Homes: Homes must be in designated eligible Rural Development area. See loan originator for details.
Minimum / Maximum Loan Amount: $50,000 - No upper limit
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
OTHER RESOURCES:
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DEREK BISSEN
NMLS# 365627
MORTGAGE LOAN ORIGINATOR
FLORIDA HOMETOWN HEROES PROGRAM EXPERT
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MEET YOUR LOAN ORIGINATOR
A Tampa native, Derek has been banking and financing for over 25 years. Derek's expertise and depth of knowledge in the mortgage and financial services industry is unparalleled. He is a creative loan structurer and specializes in working with homebuyers of all experience levels.
He is also professional saxophonist, marketing specialist, videographer, visual artist, Star Trek/ Sci-Fi fan, comic book collector and sports car enthusiast.
If you're looking for a reliable and trustworthy mortgage expert, contact Derek today to learn more about how he can help you achieve your financial goals.
OTHER LINKS:
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FLORIDA BUSINESS OWNERS & HUMAN RESOURCE SPECIALISTS: Employee homeownership lowers attrition and boosts employee pride in their communities and workplace. Book a seminar today with your staff, and let us show your employees how to become a homeowner with little or no money down.
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RESIDENTIAL BUILDERS IN FLORIDA: Increase your pool of eligible buyers by offering them the ability to close with little or no money down
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REALTORS – Start selling more homes today! We host lunch and learn seminars to help you understand this powerful program!
This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.
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