If you missed out on the last round of down payment funds from the Hometown Heroes never fear — it’s back!!

The Florida Housing Finance Corporation (Florida Housing) announced that the Hometown Heroes down payment assistance program will reopen thanks to $36 million in additional funds.

The Hometown Heroes program gives financial help to full-time Florida workers who earn less than 150% of their county’s area median income (AMI). The maximum down payment assistance available per homebuyer is $35,000, or up to 5% of their first mortgage loan amount.

To get started, homebuyers must have a minimum credit score of 640, and be a first-time homebuyer (veterans are exempted from this requirement).

In July 2023, the Hometown Heroes program received $100 million from the Florida Legislature to help Florida families purchase their first home in the community where they work. The program’s popularity, however, fully committed those funds in just two months and helped more than 6,400 families purchase a home.

Given that speed, homebuyers should probably act sooner rather than later to apply and try to secure the financial aid now as these new funds will run out quickly again.

Keep in mind that this program can sometimes also be combined with other down payment assistance programs that may increase even further the amount of available funds you can access.

If you want to see if you can qualify for Hometown Heroes or any other local assistance programs right now please contact me directly.