MENU
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$0 FUNDS AVAILABLE.
The Florida Hometown Heroes Fund is currently depleted.
SIGN UP BELOW TO BE NOTIFIED WHEN FUNDS ARE REPLENISHED. ✅
Additional funds coming soon in 2024.
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* compared to other down payment assistance programs.
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DOWN PAYMENT ASSISTANCE FACTS:
DOWN PAYMENT ASSISTANCE AMOUNT:
5%
OF THE PURCHASE PRICE OF THE HOME.
ASSISTANCE BREAKDOWN:
This 5% amount breaks down as follows:
3.5% FOR DOWN PAYMENT (this covers your down payment)
1.5% FOR CLOSING COSTS (this covers some of your closing costs.
Guidelines effective 09/09/2024
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HAVE A QUESTION? MESSAGE US TODAY »
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GET PRE-APPROVED FOR THIS PROGRAM TODAY »
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FIRST-TIME HOMEBUYERS: This program has NO First-time Homebuyer requirement. Experienced homebuyers can use this program!
CREDIT: All applicants must have a minimum middle credit score of 600 or higher and is subject to standard automated underwriting (AUS) approval. (660 for manual underwriting)
Each borrower must have a minimum of at least one credit score.
INCOME LIMITS: The Zero Down Program has NO income limits. Non-Occupying Co-Borrowers are permitted.
DEBT-TO-INCOME (DTI) RATIO LIMITS: The Zero Down Program has a maximum DTI ratio limit up to 57% and is subject to Automated Underwriting (AUS) Approval for a standard FHA Home Loan.
Manually Underwritten approvals may be eligible. For manually underwritten loans, the DTI ratio is limited to ≤ 45% and requires a credit score of 660 or higher.
OCCUPANCY: This program is designed for owner-occupied homes only. This program cannot be used to finance second/vacation homes, or investment properties.
LOAN APPROVAL: Applicants must qualify for a traditional FHA Home Loan program.
HOMEBUYER EDUCATION: At least one borrower must receive housing counseling from a HUD approved non-profit housing counseling agency. This is free of charge.
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NOTE: The Zero Down Program cannot be combined with other down payment assistance programs, and cannot be used with our Unconventional/ Non-traditional loan programs such as Bank Statement Loans, 1099 Income Programs, Profit & Loss Statement Loans, most Asset-based loan programs, Portfolio loans, etc.
See loan originator for loan program eligibility questions.
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The Florida Hometown Heroes (Version 2), which launched July 2023, began with $100 MILLION in Available Down Payment Assistance.
When the funds are gone, the program will not function until more funds have been added to the fund.
We do not know when--or if--the funds will be replenished, so be sure to act quickly if you're serious about buying your first home.
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$900K
as of 12/20/2023
AVAILABLE HEROES RESOURCE FUNDS REMAINING
FUNDS WILL RUN OUT SOON.
As of 11/06/2023, the Florida Hometown Heroes Program Down Payment Assistance Fund was replenished with $36 Million in Down Payment Funds.
The funds are allocated on a first-come/ first-serve basis. You must be under contract on a home to reserve your funds.
CALL US TODAY TO GET THE PROCESS STARTED.
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Term: Choice of 30 Year Fixed, 20 Year Fixed, 15 Year Fixed
Minimum Down Payment: 3% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Manufactured Homes)*
*We can approve Conventional loans down to a 620 score **outside of the Hometown Heroes program and with no down payment assistance.
Maximum Income Limits by County: See Chart »
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $766,550
Occupancy: Owner-occupied Primary Residence Only. Hometown Heroes Down Payment Assistance cannot be used for Second/Vacation Homes or Investment Homes.
Prepayment Penalties: None
/mortgagemarvel/FHA-2.png "Private Client")
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Term: 30 Year Fixed
Minimum Down Payment: 3.5% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Manufactured Homes)*
*We can approve FHA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Maximum Income Limits by County: See Chart »
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, 2-4 Unit Multi-Family Homes, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $498,257
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
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Term: 30 Year Fixed
Minimum Down Payment: No down payment required with sufficient VA Entitlement. Like all VA loans, the Veteran must have sufficient VA loan Entitlement.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Mobile Homes)*
*We can approve VA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Income Limits by County: N/A (Veterans are exempt)
Eligible Homes: Single Family Homes, Townhomes, Villas, Condos, 2-4 Unit Multi-Family Homes, Manufactured Homes
Minimum / Maximum Loan Amount: $50,000 - $766,550*
* This is a Florida Hometown Heroes restriction. VA loans technically have no upper loan amount limit. We can approve VA loans ** outside of the Hometown Heroes program but with no down payment assistance.
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
/mortgagemarvel/USDA_Rural_Development_Home_Loans_Florida_Tampa_Clearwater_St_Pete_Wesley_Chapel_Riverview_South_Tampa_Miami_Fort_Lauderdale_Unconventional_lending_Derek_Bissen_Square.jpg "Private Client")
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Term: 30 Year Fixed
Minimum Down Payment: 0% of the purchase price.
Hometown Heroes Down Payment Assistance: $10,000 - $35,000
Minimum Credit Score to qualify for Hometown Heroes Down Payment Assistance: 640 (or 660 for Mobile Homes)*
*We can approve FHA loans down to a 500 score **outside of the Hometown Heroes program and with no down payment assistance.
Income Limits - USDA loans consider the total household in the approval process and there are limits that vary by County. For most Florida Counties, the limit is $110,650 for 1-4 Person Households OR $146,050 for 5+ person Households.
Click here for complete chart of Florida Counties »
Eligible Homes: Homes must be in designated eligible Rural Development area. See loan originator for details.
Minimum / Maximum Loan Amount: $50,000 - No upper limit
Occupancy: Owner-occupied / Primary Residence Only.
Prepayment Penalties: None
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DEREK BISSEN
NMLS# 365627
MORTGAGE LOAN ORIGINATOR
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MEET YOUR LOAN ORIGINATOR
A Tampa native, Derek has been banking and financing for over 25 years. Derek's expertise and depth of knowledge in the mortgage and financial services industry is unparalleled. He is a creative loan structurer and specializes in working with homebuyers of all experience levels.
He is also professional saxophonist, marketing specialist, videographer, visual artist, Star Trek/ Sci-Fi fan, comic book collector and sports car enthusiast.
If you're looking for a reliable and trustworthy mortgage expert, contact Derek today to learn more about how he can help you achieve your financial goals.
This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.
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