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It’s Back! Get Ahead with the 2025 Florida Hometown Heroes Down Payment Assistance Program

$50Million in New Funding Available
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Florida Hometown Heroes — South Florida Guide
Florida Down Payment & Closing Cost Help

Hometown Heroes — Your South Florida Quick Guide

💸 Up to $35,000 toward down payment & closing costs 🏠 0% deferred second mortgage
📞 Call Carlyne Belot (866) 577-5262 ✉️ carlyne.belot@lpslama.com

Presented by Luxury Property Solutions, LLC (South Florida)

Min Credit 640 Max DTI 50% (AUS) FHA • VA • USDA • HFA Advantage/HFA Preferred Primary Residence • First-Time Buyer
Funding is limited and released in waves. When funds open, they go fast — get pre-approved so you can reserve assistance as soon as you’re under contract.

⏰ 2025 Launch & Rate Lock

  • Funds available: Aug 18, 2025 at 10:00 a.m. ET.
  • Rate lock & DPA reservation require a fully-executed purchase contract dated on/after Aug 18.
  • Coordinate with your LO on earliest feasible closing (TRID timing often suggests no earlier than Aug 29).
💡

How the assistance works

  • Gets you a 0% interest, no-payment second mortgage (deferred up to 30 years).
  • Amount is up to 5% of the first-mortgage amount, capped at $35,000.
  • Usable for down payment, closing costs, prepaids, and MI. No cash back at closing.
  • Second mortgage is repaid when you sell, refinance, transfer title, or pay off the first mortgage.
✅

Who qualifies (2025)

  • First-time buyer per IRS (no owned & occupied primary within 3 years). Veterans may be exempt from this rule.
  • Employed full-time by a Florida-based employer in an eligible occupation group (see list below). VOE confirms full-time.
  • Credit ≥ 640 and loan program underwriting; DTI generally up to 50% with AUS approval.
  • Primary residence in Florida; income and program loan limits apply.
  • Complete approved Homebuyer Education before closing (one borrower).
🧮

Loan types you can use

  • FHA, VA, USDA, Freddie Mac HFA Advantage, or Fannie Mae HFA Preferred.
  • Standard conforming and FHA loan limits apply by county.
💵

"How much of my own money?"

  • Many buyers close with $0–$2,500 out-of-pocket when assistance + seller credits cover costs.
  • Plan for earnest money, appraisal, and inspections; these can often be credited back at closing.
  • Exact cash-to-close depends on price, taxes/insurance, fees, and negotiated credits.
🔎

Don’t qualify for this program?

If you don’t qualify for Hometown Heroes, you can still search other programs and complete the form or contact us so we can help you.

Search & Apply Here Call 866-577-5262

County Limits & Loan Caps

DTI (Debt-to-Income) — front vs. back end

Front-end DTI is your total housing payment (PITI+HOA) divided by gross monthly income. Back-end DTI adds all monthly debts (student loans, car, credit cards) to housing. Hometown Heroes follows the loan program’s underwriting — most loans allow up to 50% total DTI with automated approval; manual underwrites and manufactured homes are more conservative.

Tip: To be “offer-ready,” many buyers target ≤35% front-end and ≤45% back-end. Lower balances on car/credit debt can meaningfully raise your approved price.

What price can I shop for?

We estimate the max price a typical buyer could target at various incomes assuming minimal other debts (for illustration only). Edit the assumptions to fit your scenario.

These are educational estimates — your final approval is set by the lender’s automated underwriting, exact debts, and program rules.

FAQs

👩‍⚕️👨‍🏫 Eligible Occupations (2025)

Borrowers must be employed full-time by a Florida-based employer in one of these groups:

  • Healthcare workers (nurses, techs, therapists, assistants, pharmacists, physicians, etc.).
  • School staff (teachers, aides, counselors, librarians, cafeteria, janitorial, principals, etc.).
  • First responders (firefighters, EMTs, paramedics).
  • Public safety (sworn law enforcement, corrections, juvenile detention/probation, 911 dispatchers).
  • Court employees (court clerks/reporters; attorneys employed by FL courts/State Attorney/Public Defender).
  • Childcare workers (licensed facilities or qualifying registered home day cares in Florida).
  • Service members (active duty/reserve, including Florida National Guard).
  • Veterans (full-time in FL): occupation not restricted; discharge other than dishonorable.

A Verification of Employment (VOE) confirming full-time status is required.

🏢 What counts as a “Florida-based employer”?
  • Eligible: Employer has a brick-and-mortar location in Florida (HQ may be out of state). You work on-site in Florida.
  • Not eligible: You work remotely in Florida for an out-of-state employer with no Florida location.
🏠 What property types are allowed?
  • Single-family (existing or new via construction-end loans), townhomes, condos (must meet FHA/Fannie/Freddie standards), and 2–4 units (you must occupy one unit).
  • Manufactured & modular may be eligible with overlays (e.g., min 640 FICO, ~45% max DTI, existing home, double-wide, 1994+, and FHA/USDA/VA/FNMA only — lender to confirm).
  • Not eligible: second homes, investments, vacant land, excessive acreage, condotels/transient-use projects, single-close construction-perm.
📏 Any tiny rules I should remember?
  • For 2–4 units, you must occupy one unit.
  • Condo projects must pass standard FHA/Fannie/Freddie reviews; hotel-like features and heavy short-term rental usage are red flags.

Homebuyer Education (required before closing)

  • One occupying borrower must complete a program-approved, pre-purchase course (in-person or online). Veterans using the veteran exemption are generally exempt unless required by the specific execution; confirm with your lender.
  • Courses must meet HUD or National Industry Standards. Some MI-branded courses do not qualify — confirm with your lender.
Find a HUD-approved Agency eHome America (Online) CreditSmart® Homebuyer U

Course acceptance per Florida Housing HTH Master Term Sheet; check with your LO for your exact loan execution.

Get help from our team

Need help finding a lender or property? Want to learn about additional down payment assistance programs available to you? Just complete the form below.

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Questions? Call 866-577-5262 or email carlyne.belot@lpslama.com. © Luxury Property Solutions, LLC
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