Home Buying Assistance for Veterans and Active Military
What is the assistance?
Receive 5% of the purchase price of your new home up to $25,000 in assistance from the Hometown Heroes Florida program. Combine your eligible 100% VA first mortgage with the Hometown Heroes to cover all your closing costs.
Are the interest rates competitive?
Yes! The Hometown Heroes Assistance, provided by Florida Housing, is a 0% 30 year second mortgage with no payment. Additionally, Florida Housing sets the VA first mortgage rates which are lower than current market VA mortgage rates.
Do I need to pay the assistance back?
The assistance received is a 0% second mortgage with no monthly payment. The assistance does need to be paid off once the property is sold/title transferred, refinanced, or your use of the property as a primary residence has change, such as turning the property into a rental.
Is this for First Time Homebuyers only?
No! The First Time Homebuyer requirement is waived for Veterans and Active Military.
What are the requirements?
The Hometown Heroes has a minimum credit score requirement of 640 and a maximum allowable income currently at $123,150. The assistance is also contingent on the approval of your new VA first mortgage through Island Mortgage.
How do I apply for the assistance?
With Island Mortgage! You must apply for both your VA first mortgage and Hometown Heroes Assistance with an approved lender. We handle both with just one application. Get your home buying process started now by clicking below.