Attention Realtors and Potential HomeBuyers:
I’m excited to share with you a recent change to a Loan Program that has helped thousands of Heroes in FL with down payment assistance to buy their first home. The Hometown Heroes Down Payment Assistance Program is NO LONGER just for those who work in the Protection, Education, and Healthcare Occupations in Florida. This down payment assistance program is now available to ANY EMPLOYEE who works at least 35 hours a week where the employer has a location in Florida.
What is it?
The HomeTown Heroes Program offers down payment assistance of up to 5% of the loan amount (minimum of $10,000 and $35,000 max) to eligible First Time Homebuyers who are employees of a business that has a location in Florida and can verify that they work at least 35 hours a week. This is also available for self employed borrowers whose business is located in Florida and can validate they work in their business at least 35 hours per week.
Why is this important?
With the increase in home prices, one of the biggest obstacles to homeownership is having enough funds to cover down payment and closing costs. With the median home price around $400,000, on average, a First Time Homebuyer would need over $20,000 of their own funds to buy a home. HOWEVER, with the Hometown Heroes Program, they would receive over $19,000 in assistance. This allows our HEROES and Full Time Employees who are First Time Homebuyers to buy a home with little money out of pocket.
Who Qualifies?
Any Veteran or First Time Homebuyer working at least 35 hours a week for a business with a location in FL. Self Employed borrowers are also eligible if they can validate they work in their business at least 35 hours per week.
What Should I Do About This?
If you’re a Realtor, start sharing this with your Database. You definitely have current and past clients that can either personally benefit from this program or have Friends & Family that can benefit. Share this on Social Media, don’t forget to TAG Nathan Davis so I can answer any questions. If you’re a Past Customer, please share this with Friends & Family that you think can benefit from it. Share this with your employer or HR Department. We can do presentations to Groups that could benefit from learning about the Program and becoming a Homeowner.
Community Lending powered by Hamilton Home Mortgage, Inc. will be keeping you up to date on the progress of this program. In the meantime, call me at 239-898-8841 or email me at [email protected] if you have any questions.
