The new Hometown Heroes will start July 3rd. June 29, 2023
This program will not have a job description restriction, so this is nice. Here are the guidelines:
Borrower must be employed full time by a Florida-based employer and work 35 or more hours per week.
The property will be the borrower's primary residence, and they will be a Florida resident.
First-time homebuyers, which means no present ownership at any time during the three-year period.
Dade income limit: $154,800.
Broward income limit $144,000.
FNMA/Freddie Mac maximum loan limit $726,200.
Credit score 640.
5% of the loan amount not to exceed $35,000 with a minimum of $10,000 to be used for down payment and closing costs.
The loan IS NOT FORGIVEN; if they sell, refinance, or move out, they must repay the loan.
Employer must be a Florida-based company and must have a brick-and-mortar office in Florida.
