{"id":70960,"date":"2022-06-01T10:12:30","date_gmt":"2022-06-01T14:12:30","guid":{"rendered":"https:\/\/blog.myewm.com\/?p=70960"},"modified":"2022-06-01T10:12:30","modified_gmt":"2022-06-01T14:12:30","slug":"hometown-hero-program-starts-june-1","status":"publish","type":"post","link":"https:\/\/blog.myewm.com\/?p=70960","title":{"rendered":"\u2018Hometown Hero\u2019 Program Starts June 1"},"content":{"rendered":"
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50-plus careers qualify for home-buying help up to $25K \u2013 over 3M Floridians. Income limits start at $120K, home prices at $420K. Webinar training this week.<\/p>\n<\/div>\n

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ORLANDO, Fla. \u2013 An estimated 3,089,310 Floridians qualify for home-buying help from the state\u2019s new Hometown Heroes Program (HTH), a program strongly backed by Florida Realtors\u00ae during this year\u2019s session of the Florida Legislature.<\/p>\n

The Florida Housing Finance Corporation (FHFC) \u2013 or just \u201cFlorida Housing\u201d \u2013 oversees the program. Florida Housing has scheduled webinar training sessions for Realtors this week, at 10 a.m. and 2 p.m. each day. Members can\u00a0choose their course time and sign up online<\/a>.<\/p>\n

Florida Housing also produced a\u00a0downloadable flyer<\/a>\u00a0that provides a program overview.<\/p>\n

Who can apply?<\/h3>\n

The flyer has a complete list of current occupations, though the webinar speaker, Mark T. Pease, Florida Housing\u2019s homebuyers\u2019 business development manager, says Gov. Ron DeSantis has some flexibility in deciding occupation qualifications. He encouraged Realtors to contact the governor if they feel another occupation should be included.<\/p>\n

The program applies to first-time homebuyers as defined by the IRS, which says \u201cfirst-time\u201d means \u201csomeone who has not owned a home in at least the past three years.\u201d Homeowners must also actually live in a home to be disqualified. A renter who inherited a home in North Carolina, for example \u2013 one they never actually lived in \u2013 still qualifies. Renters who own an investment property also may qualify, providing they only own one.<\/p>\n

In addition to Hometown Heroes, a program called \u201cSalute our Soldiers\u201d is for veterans. Rules are similar, but they don\u2019t have to qualify as first-time buyers.<\/p>\n

The program applies statewide, though income limits vary by county. The flyer explains the documentation borrowers must submit to prove they qualify for the program. Low-end income limits start around $120,000. Home loan limits start around $420,000 in many counties but go as high as $647,000 in some counties, such as Miami-Dade.<\/p>\n

How much money?<\/h3>\n

The program is funded with $100 million. They money isn\u2019t a gift, it\u2019s a loan \u2013 but a loan that carries no interest and does not have to be paid back until the homeowners satisfies the mortgage, sells the house, vacates the house or refinances. Paid-off Hometown Hero loan money then gets rolled back into the program to help more potential Florida homeowners.<\/p>\n

Buyers can receive a loan for up to 5% of the total process up to a maximum for $25,000.<\/p>\n

According to Pease, the program\u2019s income limits are \u201cthe highest FHFC has ever had\u201d \u2013 up to 150% of a county\u2019s median income. Lenders even have some flexibility to remove one co-borrower from an application if it helps a couple qualify for the program. In most cases, a copy of the buyer\u2019s license must be submitted. If an occupation does not require a license, however, they must submit a copy of the business\u2019s license where they work.<\/p>\n

Only lenders approved by Florida Housing can participate \u2013 about 240 in the state. However, Pease said the lender training is online and can be done \u201cin a day or so\u201d if a preferred lender wants to join the program.<\/p>\n

Realtor involvement<\/h3>\n

Any Florida licensee can work with Florida Housing, but their website also includes a \u201cFind a Realtor\u201d link. The results include Realtors who have completed a 3-hour CE class offered free by Florida Housing. The website also has a schedule of upcoming CE classes held throughout the state.<\/p>\n

Online aids issued by Florida Housing:<\/p>\n