HILLSBOROUGH COUNTY, fla. — Buying a first home could become a little more affordable for some Floridians.
The state’s Hometown Heroes Housing Program reopened Monday with $50 million in funding available to help eligible first-time homebuyers with down payment and closing cost assistance. Qualified applicants can receive up to $35,000 to help cover upfront home-buying costs.
WATCH: Florida's Hometown Heroes Program reopens, offering up to $35,000 for eligible first-time homebuyers
Housing experts said the program could make homeownership possible for families who can afford a monthly. Mortgage payment but have struggled to save enough money for a down payment.
Rich Boyd is a mortgage professional with American Financial Network. He said, “It could take years to save up, you know, 3 to 5 percent to put down on a $400,000 home. So, having this program be able to tap into that down payment assistance program and getting up to 35K. That goes miles for people.”
The assistance is provided as a deferred loan that is repaid when the home is sold, refinanced, transferred, or no longer serves as the homeowner's primary residence.
The Hometown Heroes Program is available to eligible first-time home buyers who work in many of Florida’s frontline professions, including:
- Teachers
- Healthcare workers
- Public Safety and first responders
- Active Duty military
- Veterans
- Licensed childcare workers
Jason McIntosh with McIntosh Group Realty said he is especially passionate about helping veterans and military families learn about programs that can make homeownership more attainable.
McIntosh said, “They work hard every day. They’re on the front line; they’re servicing us every day.”
McIntosh, who sells homes throughout East Hillsborough County, believes the program could have a significant impact on local buyers who are currently renting.
“Right now you can take advantage of this program, and you can get in for as little as zero out of pocket, and your mortgage is most likely lower than your rental,” McIntosh said.
Applications for the Hometown Heroes Program are now open, and funding is available on a first-come, first-served basis.
Officials recommend interested buyers contact a participating mortgage lender as soon as possible to begin the application process. In previous years, funding for the program ran out quickly.
Prospective buyers are encouraged to determine their eligibility and start the application process early while funding remains available.
Share Your Story with Keely
From Brandon to Plant City and Sun City Center, Keely McCormick is dedicated to helping people who live in East Hillsborough County. If you have concerns about new development, access to needed resources, or the roads in your neighborhood, share your ideas with Keely below.
.
Small plane makes emergency water landing near Honeymoon Island State Park
Dunedin Fire Rescue said all occupants safely reached shore with minor injuries after the aircraft went down offshore.
