Welcome to your one-stop resource hub for helping clients maximize their benefits under the Florida Hometown Heroes Program. Before you write that offer, here’s what you need to know:

⚠️ Urgency:

Funds Are Limited. Act Fast!

Funds are not automatically guaranteed. They must be reserved through an authorized participating lender only after the buyer is:

1. Fully pre-approved, and
2. Under contract on a home.

If your buyer qualifies, but the contract is not executed, funds cannot be reserved.

• Bookmark our [FUNDS METER PAGE] and check it before scheduling showings or making offers.
• Work with a lender who is active in the program and can reserve funds efficiently. Speed matters.

💰 Down Payment &

EMD Expectations

Hometown Heroes buyers cannot receive cash out. This means:

• Any excess in earnest money deposit (EMD) will not be refunded at closing.
• Avoid large EMDs unless absolutely necessary.

🔁 Workaround tip: Use a contract addendum to:

• Refund the initial EMD in full.
• Replace it with a smaller, program-compliant amount.

Set realistic expectations with listing agents about buyer cash reserves. They’re leveraging down payment assistance, not large liquidity.

🧠 Work With a Knowledgeable MLO

Not all lenders or loan officers understand the complexities and quirks of this program.

A mistake in contract timing, income qualification, or condo review can cause the buyer to lose their reserved funds.

Always confirm your client’s MLO is an authorized participating lender and fully understands:

• Income limits by county
• Max purchase price per loan type
• Calculation of assistance
• Timeline for fund reservation and closing

🏢 Condominiums:

Proceed With Caution

Condos are technically allowed but often risky under this program due to:

• Statewide legislation
• Stringent warrantability rules
• Frequent special assessments

Checklist for Realtors:

Inspect the legal description. If it contains "condo" or "condominium," it's a condo—even if it looks like a townhome.

Only FHA-approved or conventionally-warrantable condos qualify.

FHA Single Unit Approvals (SUAs) may be possible, but take extra time.

Review HOA meeting minutes for:

• Upcoming special assessments
• Deferred maintenance
• Insurance coverage issues
• Budget reserves

⚠️ Bottom Line: Avoid condos unless you're working with an expert MLO and have thoroughly vetted the project.

📃 Contract Tips & Timing

DO NOT write short escrow periods without confirming timelines with the MLO.

Make sure the MLO has:

• Final income and program eligibility confirmed.
• The executed contract in-hand.

Include enough days for:

• Lender disclosures and file submission
• Underwriting + assistance funds reservation
• Title/HOA clearance if applicable

🔑 Other Key Considerations for Realtors

🧾 Income Limits Are Strict

• Income limits vary by county and household size.
• Never assume your buyer qualifies. Get it verified in writing by a lender before showing homes.

📦 Loan Type Impacts Max Purchase Price

• FHA, Conventional, and VA loans have different limits under Hometown Heroes.
• A property that works with Conventional may not be viable with FHA financing for the same income.

🏠 Property Type Matters

• Single-family homes, townhomes, and villas (if not legally condos) are safest bets.
• Manufactured homes are eligible, but the buyer must have a 660 credit scores vs the standard 640 credit score.
• Condos have restrictions (see above).

🕰️ Funds Must Be Reserved Before They’re Gone!

• This program is first-come, first-served.
• If you're showing homes to qualified buyers without a plan to secure funds immediately after contract, you risk losing them.

✅ Recommended Realtor Actions

Want to be the most prepared agent in the room? These two insider tools were built specifically to help Florida Realtors navigate Hometown Heroes with speed and clarity.

No guesswork, no wasted time. Just smarter steps to get your buyers to the closing table.

🌴 Built for Florida Agents. Trusted by Top-Producers.

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