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Hometown Heroes Loan Program - Learn How to Get up to a $35,000 Grant in Osceola County, Florida

Are you a first-time homebuyer with a family? A wounded veteran or maybe the spouse of one? Or did you recently retire and look to settle down in central Florida? Osceola County has set up a program that could get you out of renting and onto your piece of American Pie.

The Sunshine State is full of sunshine and friendliness, but the real estate market can be challenging to navigate. Fortunately, the Hometown Heroes program is here to help.

If you're a first-time homebuyer looking for a low-interest loan or other assistance to purchase a house in Osceola County, Florida, Hometown Heroes loan program can help you.

We've got all the information you need about this great loan program - Hometown Heroes, in this helpful guide.

What Is The Florida Hometown Heroes  Loan Program?

Hometown Heroes is an initiative by the Florida Housing Finance Corporation (FHFC) that benefits first-time, income-qualified home buyers — who buy homes in Osceola County.

The Florida Hometown Heroes Housing Program makes homeownership affordable for eligible community workforce in Osceola County, Florida.

This program provides down payment and closing cost assistance to first-time, income-qualified home buyers so they can purchase a primary residence in the community in which they work and serve.

The Florida Hometown Heroes Loan Program also offers a lower first mortgage interest rate and additional special benefits to those who have served and continue to serve their country.

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.

Program Requirements

It is available to income-qualified, first-time homebuyers and those looking to buy a new home in Osceola County, Florida.

If a borrower is employed full-time (must document 35+ hrs. per week) by a business located in FL, meets Program requirements, and can credit qualify for a mortgage, many more First Time Homebuyers should be able to qualify for this program.

There will no longer be an occupational requirement. There will also be a minimum floor set at $10,000 for those individuals able to purchase a home for less than $200,000.

  • Borrower(s) must be employed full-time by a Florida-based employer and work 35 or more hours per week.

  • The property the borrower(s) is purchasing will be their primary residence and they will be a Florida resident.

  • The borrower(s) are first-time homebuyers which means, a borrower(s) must have had no present ownership Interest in a principal residence at any time during the three-year period prior to the date on which the Mortgage Loan is executed.

  • Borrower(s) must not exceed the maximum Income & Loan Limit requirements, household size, for the county in which the property is being purchased.

  • All Borrowers must have a minimum FICO of 640 and maximum DTI of 50%.

Eligible Property

  • Attached / Detached 1-unit dwelling (includes townhomes)
  • 2-4 unit properties
  • Condos
  • Manufactured Housing (1994 or newer)

Required Documentation

  • COPY of signed, FINAL 1003.
  • COPY of VOE confirming employment of 35 hours a week or more with a Florida based employer.
  • COPY of fully executed FL Hometown Heroes Certification Form.

Income & Loan Limits in Osceola County, Florida

  • Income Limits - $131,700
  • Loan Limits (FHA) - $472,030
  • Loan Limits (HFA Preferred & HFA Advantage and VA) - $726,200

USDA-RD does not have a Cap on Loan Limit.

Florida Tax Exemption Benefits

One of the top benefits of using the Hometown Heroes Program is tax exemption, saving you thousands of dollars.

Under Section 420.513(1) of the Florida Statutes, this program provides an exemption from documentary stamp tax and intangible tax for first and second mortgages and notes used to secure loans for housing financed through Florida Housing's Homebuyer Programs.

This means that when you purchase a home through these programs, you won't have to pay the documentary stamp tax and intangible tax on your mortgage, saving you a substantial amount of money.

The Florida documentary stamp tax is a real estate transfer tax levied at a rate of $0.70 per $100 paid for the property in most counties, except Miami Dade, where it is $0.60 per $100.

With the Hometown Heroes Program, you can exclude this tax when you meet the program's criteria. Additionally, the Florida intangible tax, which is calculated at 2 mills per dollar of the note's just value secured by the mortgage, is also exempted.

For each $100,000 of your home purchase price, this exemption can potentially save you approximately $2,000 in documentary stamp tax and intangible tax.

Lakefront view and light house in St Cloud Florida

Why Buy A House In Osceola County, Florida?

There are many reasons to buy a home in Osceola County, Florida. If you are considering moving to the Orlando area, you will want to consider the pros and cons of this city.

For example, many things make the area desirable:


Osceola County is one of Florida's best places to buy a home. With affordable homes, low crime rates, and plenty of activities for the whole family, it's no wonder it's a suitable location for many people. Osceola County is a great place to live, work, and play.

The median price for a single-family home in Osceola County is $170,000 – that's $60,000 less than the national average!

The county is home to theme parks, beautiful lakes, rivers, miles of walking trails, and two airports. Osceola County also offers excellent schools and healthcare facilities.

Suitable Home Cost

Osceola County is located in Central Florida and has an estimated population of more than 340,000.

The average cost of a home in the county is $227,500, less than half the national average of $336,200. The median household income for Osceola County residents is slightly above average at $63,500 per year.

Low crime rate

In addition to its natural beauty and amenities, Osceola County has low crime rates and affordable housing.

This makes it easier for families who may not be able to afford a bigger home if they choose to move closer to Orlando. But don't let the affordability fool you – this area has everything you need for a great life.

Suitable Location

Over the past two decades, Osceola County has become one of the most affordable places in Florida for retirees and families.

The county is located just north of Orlando and comprises several small towns and cities. The county's central location is ideal for those seeking job opportunities in Orlando or Tampa Bay and recreational activities like Disney World.

Many residents don't even realize that they live in this county because it feels like one big community. Its central location renders it easy to get anywhere in Central Florida quickly!

We're less than 3 hours from Tampa Bay and Orlando, 2 hours from Jacksonville and Daytona Beach, 5 hours from Atlanta, Georgia, and only 1 hour from Tampa International Airport by car or commuter train!

Suitability for Retirees and young professionals

Whether you have kids or not, there's something very peaceful about having plenty of space around you at home. Osceola County provides this opportunity by offering homes with large backyards so everyone can enjoy their time.

The median age here is approximately 44 years. This makes it easy for military personnel close to retirement age to find affordable homes with low maintenance costs near their families.

Best Schools in Florida

Osceola County is home to some of the best public schools in Florida. The county offers more than 50 school districts and private schools. It has an impressive graduation rate of 92 percent, and many students attend some of the most prestigious universities in the country.

This includes Harvard University, Princeton University, Yale University, and Stanford University, to name a few! The school district also offers special programs like dual enrollment, where students can earn college credits while still enrolled in high school!

This is an excellent opportunity for students to save money on college expenses by getting a jump start on their education.

List of Cities in Osceola County, Florida Offering the Hometown Heroes Program

  • Intercession City
  • Kenansville
  • Kissimmee
  • Saint Cloud


If you are an eligible full-time workforce, employed by a Florida-based employer, try the hometown heroes loan program.

The Hometown Heroes is a down payment and closing cost assistance program that provides up to $35,000 to eligible community workforce.

If eligible for this grant program, you may apply to your lender. A participating lender must pre-approve all applicants before applying for the grant through Hometown Heroes Loan Program in Osceola County, Florida.

With over 50 years of mortgage industry experience, we are here to help you achieve the American dream of owning a home. We strive to provide the best education before, during, and after you buy a home. Our advice is based on experience with Phil Ganz and Team closing over One billion dollars and helping countless families.

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