The Hometown Heroes Housing Program helps Floridians achieve homeownership with zero-interest loans for down payments and closing costs.
TALLAHASSEE, Fla. — Affordable housing remains a top concern nationwide, especially in Florida, where high interest rates, limited inventory and rising home prices have made the dream of homeownership a challenge for many. Recognizing this, Florida Realtors®, the state’s largest professional trade association, has been at the forefront of advocating for solutions that make homeownership attainable for hardworking Floridians.
One shining example of these efforts is the Hometown Heroes Housing Program, launched in 2022 to help Florida’s workforce buy homes near where they work. This program provides zero-interest loans for down payments and closing costs, removing a key financial barrier that prevents many first-time buyers from entering the market.
For Tyler, a software engineer, and Madison, an ICU nurse, the program was instrumental in achieving their dream of homeownership. Just starting their careers, Tyler and Madison were ready to buy their first home but needed assistance covering upfront costs. They turned to Amanda Barcenas of MVP Realty in Naples, a longtime family friend, to guide them through the process. The couple secured the support they needed to pay for their closing costs thanks to Amanda’s expertise and the availability of Hometown Heroes funds.
“This program makes a profound difference in the lives of our neighbors,” said Gia Arvin, 2024 Florida Realtors president. “It’s about keeping hard-working professionals like Tyler and Madison in the communities where they live and work while strengthening the fabric of our neighborhoods.”
How the Hometown Heroes Housing Program works
Borrowers can receive up to 5% of their first mortgage loan amount, with a maximum of $35,000, to assist with down payment and closing costs. This aid is structured as a 0%, non-amortizing, 30-year deferred second mortgage. While the loan is not forgivable, repayment is only required if the property is sold, refinanced, transferred or no longer serves as the primary residence. Once repaid, the funds are reinvested to support future homebuyers.
So far, the program has assisted more than 20,000 individuals and families statewide, bolstered by $300 million in funding from the Florida Legislature and an additional $36 million from the Florida Housing Finance Corporation. Its popularity has skyrocketed, with funding being reserved faster each year as demand continues to grow.
“When the program first launched, $100 million lasted about a year. The next round of funding was gone in under two months,” said Murphy Kennedy Giering, a public policy representative at Florida Realtors who focuses on housing and taxation issues. “It’s clear Floridians need this program, and we’re working hard to ensure its continued success.”
Advocating for more solutions
Florida Realtors® is committed to expanding the reach of the Hometown Heroes Housing Program and other initiatives that address the state’s housing affordability challenges. Each legislative session, the association advocates for increased funding and innovative policies to support Florida’s workforce.
“By providing a pathway to homeownership, we’re investing in the people who make our communities thrive,” added Arvin. “The success stories of buyers like Tyler and Madison show what’s possible when state leaders and Realtors® come together to create real solutions.”
A Shared Vision for stronger communities
Real estate professionals like Amanda Barcenas are crucial in connecting clients to valuable resources like the Hometown Heroes Housing Program. By helping Floridians achieve their dream of homeownership, Realtors® support individual families and strengthen the communities they serve.
For Tyler and Madison, their new home represents the start of an exciting chapter. “We’re thrilled to have been part of their journey,” said Barcenas. “Programs like Hometown Heroes are making a real difference, one family at a time.”
To learn more about the Hometown Heroes Housing Program and find out if funding is available, visit theprogram website. Realtors can access the Hometown Heroes Housing Program digital toolkit to help market the program to their clients
© 2024 Florida Realtors®
©Florida Realtors®
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