JACKSONVILLE, Fla. — The Florida Hometown Heroes program now has $50 million in funding to assist eligible first-time home buyers with their down payment and closing costs.

This initiative is accessible to most full-time employees in healthcare, education, childcare, legal services, and emergency response sectors who are employed by a Florida-based organization, in addition to military personnel and veterans.

Last year, the state allocated $100 million to this program. Local realtors predict strong demand this year and that the funds will be utilized quickly.

“It’s such a great program that everybody wants to take advantage of it,” said Cindy James, a realtor in Jacksonville. 

James sells homes all over Jacksonville but she loves helping people purchase a home through the Hometown Heroes program. 

“This house was owned by a first responder,” said James. “He purchased it two years ago as a first-time home buyer and absolutely loved it. It had been recently remodeled, so it felt like buying a new home, all made possible by the Hometown Heroes program.”

Eligible participants can receive assistance up to five percent of their first mortgage loan amount to help with down payments and closing costs, with a maximum benefit of $35,000.

“Instead of using your own money for closing costs and down payment, you can allocate it towards your home,” said James. “This increases the property’s value and equity from the start.”

In addition to the being in a qualifying occupation, there are certain income thresholds you must meet as well which vary based upon county. 

“One of the biggest barriers to home ownership is actually the down payment,” said Tim Weisheyer, President of the Florida Realtors Association. “It’s the ability for individuals to save enough money over time to be able to afford to purchase a home and enter the housing market.”

Weisheyer says that unlike other housing assistance that is available, money set aside for Hometown Heroes can be recycled back into the community.

“When a homeowner receives a down payment assistance to the Hometown Heroes Housing program, when they sell the property, the down payment that they actually received from the state, which is basically a zero interest loan of sorts, that’s provided to them to access home ownership,” said Weisheyer. “That money then goes back into the Hometown Heroes housing program to then be used again to help another family another hometown hero.”