Members of the military, veterans, firefighters, educators, nurses and other healthcare professionals, law enforcement officers and child care employees are among the heroes who may qualify. See the pdf at the bottom of this page to verify if your profession qualifies!
Ocala Home Guide Realty supports the Florida Hometown Heroes Program. The State’s efforts to make home ownership more affordable for our hometown heroes are indeed commendable. Therefore, we have chosen to add a little benefit of our own. We offer it to every hero we represent in the sale or purchase of a home. You will receive a credit form us at closing equal to 20% of the commission we earn from your side of the transaction. As a buyer, you may use it towards your downpayment, your closing costs, or any other way you wish. As a seller, you will benefit from more cash in your pocket at closing. It is our way of thanking you for your service and for giving us the opportunity to serve you. We will give you this commitment in writing when you become our client!
Below you’ll find detailed information about how the Florida program works. Please reach out if you have any questions. We would be happy to provide answers and honored if you’ll allow us to serve all your real estate needs.
How The Florida Hometown Heroes Program Works!1
This program is available to heroes who are first time homebuyers. Anyone who has not owned a home in the last three years meets this requirement. The prior home ownership of others, such as spouses, may be considered in determining whether buyers qualify as a first time homeowner. Additionally, professions that qualify for the hometown heroes program are listed in the pdf at the bottom of this page.
“The Florida Hometown Heroes Housing Program makes homeownership more affordable for eligible community workforce members. This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers to help them purchase a primary residence in the community in which they work and serve. This assistance is in the form of a non-interest bearing second mortgage which requires no periodic payments and balloons upon the occurrence of a special event. Among the events that will cause the balance of the second mortgage note to be due and payable are the sale of the home, or the cessation of of its use as the borrower(s) primary residence for any other reason.
A qualified buyer of a home purchased for $200,00 or less will receive $10,000 in assistance. Then, for every $100,000 in purchase price over $200,000 they will qualify for an additional $5000 in assistance. The maximum downpayment assistance allowed under the program is $35,000.
Additional Benefits1
This loan program also offers a competitive first mortgage interest rate and additional special benefits to those who have served or continue to serve their country. The loan carries no points for example.
One of the most valuable benefits of the Hometown Heroes Program is the accompanying tax exemption which may save you thousands of dollars at closing. For each $100,000 of your purchase price, this exemption may save you up to $2,000 in documentary stamp tax and intangible tax.
However, please also note that a borrower must work fulltime for a business located in Florida to qualify. A verified 35+ hrs. per week (VOE) meets this program requirement. Additionally, their credit and income must be sufficient to qualify for a mortgage they are seeking.”1
Eligible Occupations2:
2. Eligible Occupations PDF shared from the Florida Housing Finance Corporation