Hometown Heroes Housing Program

by David Dell'Olio

Hometown Heroes Housing Program - 2023

The Hometown Heroes Housing Program (HHHP) was established in 2022 with the purpose of offering down payment and closing cost assistance to first-time homebuyers who qualify based on their income. The program aims to assist these individuals in purchasing a home within their community of employment. The assistance is provided through a zero-interest loan, which must be repaid when the property is sold, rented, or transferred.

As a result of the program's success, the Florida Legislature made significant enhancements to HHHP in 2023. So, what exactly was changed to further improve this program?

HHHP is receiving an additional $100 million in investments to provide greater opportunities for residents of Florida to purchase their first homes.

Now, all employees based in Florida who work full-time and earn at or below 150% of the Area Median Income are eligible for this opportunity. This eligibility was previously limited to employees in specific professions.

The maximum loan amount has been increased from $25,000 to $35,000, while the cap of 5% of the purchase price remains unaffected.

Some manufactured homes are now eligible for HHHP loans. Certain manufactured homes now qualify for HHHP loans.

The Hometown Heroes Housing Program (HHHP) has recently been incorporated into Florida's legislation, making it an official law. Previously, HHHP was only included as part of the state budget for 2022.

Learn more at: floridarealtors.org/hometown-heroes