New $100million housing program will help Americans purchase their first home – do you qualify?

FLORIDA'S booming real estate market was beginning to price out critical workers.

However, with help from a new $100million program opening June 1, hometown heroes will find it easier to buy a home.

The news came from Governor DeSantis on May 23.

The program, known as the Hometown Heroes Housing Program, will launch June 1.

“In Florida, we value the contributions of our police, firefighters, teachers, and nurses,” said Governor Ron DeSantis. 

“Our hometown heroes are the backbone of Florida communities and making sure that they can afford to be homeowners is a great way to give back to them and support the future of the American Dream.”

The program will be managed by the Florida Housing and Finance Corporation.

It has the highest and most inclusive eligibility of all Florida housing down payment assistance programs, according to the news release.

The main focus is to help critical workers buy a home.

Florida Housing received $100million from the state in 2022 to establish the Hometown Heroes Housing Program.

Who will qualify?

The Hometown Heroes Housing Program will be available to law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans.

To qualify for this program, homebuyers must:

• have a minimum credit score of 640
• provide certification for one of the eligible occupations
• meet the income threshold for their county

How much will borrowers get?

Funds will be available to reserve starting June 1, which coincides with National Homeownership Month.

Eligible borrowers will receive up to 5% of the first mortgage loan amount.

The maximum benefit is $25,000.

It can be used toward down payment or closing costs.

For more information, please visit www.floridahousing.org/hometownheroes.

For more in property, five tips to get you ready to rent.

And four ways to reduce your property tax bill.