The Florida Hometown Heroes Housing Program/Live Local Act aims to help eligible community workforce achieve affordable homeownership. It offers down payment and closing cost assistance to first-time, income-qualified homebuyers, enabling them to purchase a primary residence in the same community where they work and serve. Moreover, the program also provides a lower first mortgage interest rate and special benefits to those who have served or are still serving their country.
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Program Details:

• Eligible full-time workforce (35+ hours/week), employed by a Florida-based employer (brick-and-mortar) can receive lower than market interest rates on an FHA, VA, RD, Fannie Mae or Freddie Mac first mortgage, reduced upfront fees, no origination points or discount points and down payment and closing cost assistance.
• Borrowers can receive up to 5% of the first mortgage loan amount (maximum of $35,000) in down payment and closing cost assistance.
• Down payment and closing cost assistance is available in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed or if the homeowner no longer occupies the property as his/her primary residence. The Florida Hometown Heroes loan is not forgivable.

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BE AWARE: There is no cost to apply for Hometown Heroes Down Payment Assistance. Scammers often target homebuyers who are in need of assistance or trying to purchase a home. A common tactic scammers use is requiring you to pay an upfront fee before providing any services. They may also try to charge you to apply for the program. Avoid any company or individual that does this and report them to the Inspector General’s Office at the Florida Housing Finance Corporation 850-488-4197.

Qualifications of First-Time Buyers
According to the U.S. Department of Housing and Urban Development (HUD), a first-time homebuyer is defined as someone who meets any of the following criteria:

• If you haven't owned a primary residence for the past three years, you qualify as a first-time homebuyer. However, if your spouse has never owned a home before, you can still purchase a property together and be considered first-time homebuyers.
• A single parent who has only owned a home with a former spouse while married.
• A displaced homemaker who has only owned a home with a spouse.
• An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
• An individual who has only owned a property that was not in compliance with state, local, or model building codes—and that cannot be brought into compliance for less than the cost of constructing a permanent structure.
  
  

The broad definition of a first-time buyer may help you qualify for benefits that come with purchasing a home for the first time.

First Time Homebuyers - Education Class