DELRAY BEACH, Fla. -
April 16, 2023 -
PRLog -- The Cheryl Hazel Team, at Realty 100, are reaching into the community to bring awareness to the new Florida Hometown Heroes loan program, and the updated limits and occupations eligible. The loan program was established this last year, to help those who serve, protect, provide, assist, and heal, to keep our cities running by providing an opportunity to escape rising rent costs and get into their own home with assistance through Florida Housing. It seems to be one of Florida's best kept secrets, so we are ready to spread the word. The program was set up to provide downpayment and closing cost assistance for first time home buyers (veterans and active military are exempt from that requirement)
, or those who have not owned a primary residence in the last 3 years. The current criteria includes just over 100 licensed/certified eligible occupations with a minimum credit score of 640. The loan offers 5% up to $25,000 of assistance, which is repaid when the home is sold or refinanced, and is kept as a 0% interest second loan. The interest rates are below market, with zero points, and it is tax exempt, saving the customer .55% in doc stamps and intangible taxes. In Palm Beach county, the maximum loan limit is currently $726,200 with the maximum income at $138,000. This is an awesome program, but it is getting even better! Thanks to the Live Local Act, the downpayment assistance will be raised to $35K maximum, both the income and loan limits will be increased in the next 30 days, and as of July 1st, this program will include ALL occupations including self employed business owners. For more information, visit FloridaHousing.org and
https://www.allhomesinsouthflorida.com/florida-hometown-h....
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