New program helps essential workers become homeowners in Florida

Essential workers may be closer to becoming homeowners after a state program went into effect on the first of June for more than 50 professions.

Florida’s Hometown Heroes Loan Program is going to help frontline workers with down payments and closing costs assistance. Over 50 different professions like dental hygienists, athletic trainers, massage therapists, mental health counselors, and more will have access to the program.  Click here to view the full list of eligible occupations for the Florida Hometown Heroes Loan Program.

“This program is a game changer and I promise you other states are going to adopt this program,” Rick Haas from Marzucco Real Estate said.

You may not think you’re eligible, but you could qualify. “I didn’t realize how extensive it was until I actually got the list and saw how many people it’s going to help out,” Haas said.

Lauren Maxwell is the Executive Vice President of Maxwell Mortgage Team CrossCountry Mortgage. She shared some thoughts on the program. “Teachers, you need to call us. Nurses, technicians, librarians, daycare workers, this is for you,” Maxwell said.

To have a thriving community, you must have essential workers. But many can’t afford to live where they work. It’s something WINK News has reported on extensively, and it’s why the state is trying to help bridge the gap.

“This allows you to get in with the most minimal money down with a 640-credit score,” Maxwell said. To qualify there are income limits as well as purchase price limits for a home. But, the limits are generous, just like the assistance the program offers.

“Borrowers can get 5% of their loan amount towards their down payment towards their closing costs,” Maxwell said. Up to $25,000 and if you aren’t sure whether you’re eligible, the answer is a simple phone call away.

“This is what you do. You pick up the phone. You call Rick or you call Lauren. We will help you, we will walk you through it,” Maxwell said. “We will, we are going to find you that house. We do not take no for an answer.”

Maxwell Mortgage teams said they have helped a handful of heroes find homes through the program.

Down payment assistance through the program comes from a secondary, non-interest-bearing loan. Those funds do not have to be paid back unless the home is sold before the end of the primary loan term.