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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

DON'T WORRY IF YOU DON'T QUALIFY — OR EVEN IF YOUR CREDIT SUCKS!

Even if you don’t qualify for Hometown Heroes right now, or your credit is not where you want it to be, you still have options. We work with multiple down payment assistance (DPA) programs across Florida and can help you structure offers with seller concessions up to 6% of the purchase price (on qualifying loan types like FHA).

Our goal is simple: make your dream of homeownership a reality, not just show you one program and say “no.” We can help you:

  • Review other DPA options you may qualify for now or in the near future.
  • Build a credit improvement plan if your scores are currently too low.
  • Negotiate seller-paid closing costs (up to 6% for FHA) to reduce your cash-to-close.
  • Map out a realistic timeline to become mortgage-ready if you’re not there today.
Let us help you: Even if your credit “sucks” right now, that’s just your starting point — not your future. Reach out and we’ll show you a path from where you are today to getting the keys to your own home.

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.

Credit requirements & strict guidelines

Hometown Heroes uses two sets of rules: (1) the underlying loan program (FHA, VA, USDA, HFA Advantage/HFA Preferred) and (2) Florida Housing’s own overlays for HTH. You must meet both to qualify.

  • Minimum credit score: HTH currently requires a minimum 640 middle FICO for each borrower on the loan, even if the base FHA/VA guidelines might allow a lower score.
  • No “no-minimum-score” exception: Some national programs allow manual/alternative credit with no stated minimum score. Hometown Heroes does not — the 640 floor still applies.
  • 12-month clean history: Underwriting looks for no late payments, new collections, charge-offs, judgments, or liens in the last 12 months. Major events like bankruptcy, foreclosure, or short sale must also be outside standard waiting periods for the loan type.
  • Federal debt must be current: Student loans, IRS debt, and other federal obligations cannot be in default. Rehabbed or income-based repayment is usually fine as long as the account is now current and reflected that way on the credit report.
  • Student loans ≠ automatic disqualification: Large student loan balances are allowed. What hurts eligibility is recent late payments or default, not the balance itself. A consistent on-time history over the last 6–12 months can materially improve scores.
  • DTI + credit work together: Higher DTIs (up to ~50% with AUS) often require stronger credit. If your score is close to 640, the lender may cap your DTI below the program maximum to obtain approval.
Important: If your current score is below 640, we can help you map out a plan (strategic pay-downs, disputes, and new positive trade lines) to work toward eligibility before funds run out. Ask us for a custom credit roadmap.

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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