New guidelines allow up to $35,000 for down payment and closing cost assistance at 0% interest! Home buyers can now purchase up to $731,000 with minimal to zero funds of their own. A good rule of thumb is to estimate 5% of the purchase price (see examples below).
| Purchase Price | Hometown Heroes Assistance |
|---|---|
| $200,000 | $10,000 |
| $300,000 | $15,000 |
| $400,000 | $20,000 |
| $500,000 | $25,000 |
| $600,000 | $30,000 |
| $700,000 | $35,000 |
- Any Florida based worker who has not owned a primary residence in the past 3 years.
- Must be a full time employee.
- Self-Employed buyers are eligible with a Florida business license.
- Remote workers are eligible if residing in Florida and working for a company with a Florida business license.
- Veterans eligible (first-time homebuyer not required).
- 640 minimum credit score.
- Income limits below are only considered for the qualifying buyer. The income from a non-borrowing spouse is not included if not on the loan application. Co-signors are allowed as long as the total combined income is within the limit.
| County | Annual Income Limit |
|---|---|
| Palm Beach County | $160,650 |
| St. Lucie County | $137,550 |
| Martin County | $137,550 |
| Broward County | $158,400 |
| Miami-Dade County | $170,250 |
| Orange County | $144,750 |
This is not a commitment to lend. The Hometown Heroes Program is a Florida Housing Program. Certain restrictions apply and terms above are subject to final loan approval and reservation with Florida Housing. Estimates of funds expiration date is not fully known and only opinion. Call The Matt Weaver Team at CrossCountry Mortgage for additional details (561) 864-2458.
