Unlocking the Door to Homeownership for Florida's Community Heroes
In a significant move to support our community's vital workers, the Florida Housing Finance Corporation has revitalized its Hometown Heroes Program with an impressive $36 million funding boost. This comes after a successful run earlier this year, where the program, endowed with $100 million, swiftly aided over 6,400 families in their quest for homeownership. The additional funds are set to further this noble cause, reinforcing Florida's commitment to its local heroes.
Program Overview: A Helping Hand for First-Time Homebuyers
The Hometown Heroes Program, designed to ease the path to homeownership, is a boon for full-time workers in Florida, including first-time homebuyers. Here's a breakdown of what the program entails:
Target Beneficiaries: This initiative is tailored for those who serve our communities daily — educators, healthcare providers, first responders, military personnel, and more.
Assistance Offered: Eligible participants can receive up to $35,000 or up to 5% of their first mortgage loan amount. This aid comes in the form of a deferred second mortgage, boasting no monthly payments and a lower interest rate than the first mortgage.
Eligibility Criteria: Applicants must be employed full-time by a Florida-based employer and earn less than 150% of their county’s AMI. A minimum credit score of 640 is required, along with certification for one of the eligible occupations.
Added Benefits: The program provides lower than market interest rates on various first mortgage types and reduced upfront fees, enhancing affordability.
A Bright Future Ahead
With the recent funding announcement and the "Live Local Act," the Hometown Heroes Program is poised for significant expansion. These changes aim to make homeownership more attainable for a broader spectrum of Floridians, underlining the state's dedication to those who contribute tirelessly to our communities.
Kevin Farfan's Role: Guiding Heroes Home
As a realtor, Kevin Farfan understands the unique challenges faced by our community heroes in the housing market. Leveraging his expertise, Kevin is committed to guiding these individuals through the intricacies of the Hometown Heroes Program. From identifying eligible properties to navigating the application process, Kevin's role is pivotal in turning the dream of homeownership into a reality for Florida's deserving heroes.
Conclusion: A Step Towards Community Strengthening
The Hometown Heroes Program isn't just about providing financial assistance; it's about acknowledging and rewarding the invaluable contributions of our frontline workers. By aiding them in purchasing homes in the communities they serve, this program fosters a deeper sense of belonging and commitment, ultimately strengthening the very fabric of our Florida communities.
Contact Kevin Farfan for Expert Guidance
If you're a Florida hero dreaming of homeownership, reach out to Kevin Farfan for personalized assistance with the Hometown Heroes Program. Together, let's make your homebuying journey a successful and rewarding experience.
Kevin Farfan LLC GRI, PSA, RENE, MRP, C-RETS
Coldwell Banker Realty
213 W. Bloomingdale Ave.
Brandon, FL. 33511
Cell 813-784-7139
website: www.kevinfarfanllc.com
"I Sell Lifestyles!"