New Florida program helps ‘hometown heroes’ buy their first homes, DeSantis says

To help people buy homes in the communities they serve, a new program will assist “vital” workers among 50 professions with down payment and closing costs, Florida Gov. Ron DeSantis said Monday.

The initiative, called the Florida Hometown Heroes Housing Program, begins June 1. The state’s initiative will cost taxpayers $100 million. There are 1,000 lenders involved in the program to start providing assistance to essential workers, such as police officers, firefighters, doctors, nurses and teachers, among other professions.

“We have worked harder than anybody to support the people in our communities that support us, and so that means the people that wear the uniform,” DeSantis said.

To qualify for this program, homebuyers must connect with a participating loan officer, have a minimum credit score of 640, provide certification for one of the eligible occupations, and meet the income threshold for their county. Eligible borrowers will receive up to 5% of the first mortgage loan amount (up to a maximum of $25,000) in down payment and closing cost assistance in the form of a zero-interest loan for 30 years.

The income limit in Broward County is $136,050; Palm Beach County is $138,000; Miami-Dade County is $146,250; and Orange County is $124,350. For more information about the eligibility requirements, visit www.floridahousing.org/hometownheroes.

Among the professions that will qualify for aid include:

Physicians, anesthesiologists, dentists and veterinarians
Law enforcement officers, correctional officers, probation officers and 911 operators and juvenile detention officers
Firefighters, paramedics and emergency medical technicians
Teachers, school psychologists and day care instructors
Registered nurses, licensed practical nurses and home health aides
Massage therapists

In addition, all military active duty personnel moving to Florida and the surviving spouses of deceased veterans also will qualify for the assistance. Veterans also qualify, regardless of whether they are first-time buyers, DeSantis said.

The loan would be repaid in full if the buyer sells, refinances, or rents out the home.

The program will help them achieve the “American Dream,” said Trey Price, executive director of Florida Housing Finance Corporation, which will run the program.

Opponents say the Florida Legislature got the $100 million for the program by taking it from an affordable housing rental assistance program for low-income families.

Affordable housing advocates say the Legislature broke a promise made only a year ago that it would never again raid the Sadowski Affordable Housing Act fund, created in 1992 as a dedicated source of revenue to finance affordable housing programs.

The transfer from the state housing trust fund was made during budget negotiations earlier this year, during the last week of session.

Lisa J. Huriash can be reached at lhuriash@sunsentinel.com or 954-572-2008 or Twitter @LisaHuriash