Florida Hometown Heroes Bond Program (2025 Guide)

The Florida Hometown Heroes Bond Program helps first-time buyers who serve their communities purchase a home with affordable financing and down payment assistance.

Unlike the TBA version, the Bond program uses household income and stricter first-time buyer rules, but also offers more powerful benefits.

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Here’s what sets the Bond option apart — and how to know if it’s the right fit for you.

What is the Florida Hometown Heroes Bond Program?

The Florida Hometown Heroes Bond Program is one of two ways to get funding through Hometown Heroes (the other being the TBA program).

Bond has stricter rules, it uses household income (everyone 18+ in the home, plus a non-purchasing spouse) and has lower income limits.

But if you qualify, Bond is more powerful than TBA:

• Lower interest rates – As of now, FHA/USDA/VA loans through Bond are pricing at 6.00% vs. 6.25% with TBA. That lower rate translates into smaller monthly payments over the life of the loan.

• More loan options – Only Bond allows USDA loans and includes both Fannie Mae and Freddie Mac conventional options. TBA only allows Freddie Mac.

• Cheaper mortgage insurance – If your income is less than 80% of Area Median Income, Bond gives you access to reduced-cost mortgage insurance

• Targeted area advantages – Buying in a federally targeted census tract can waive the first-time buyer requirement and raise income and purchase price caps.

Bottom line: Bond is harder to qualify for, but if you fit the income rules, you get lower rates, more flexibility, and the exclusive USDA option, making it the stronger program for many buyers.

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Requirements for the Florida Hometown Heroes Bond Program

Here’s what you need to qualify for the Bond option and how it differs from the TBA program:

• First-Time Homebuyer: Bond requires all borrowers, a non-purchasing spouse, and anyone on the deed to be first-time buyers (no home in the last 3 years). TBA only applies the rule to the borrowers on the loan.

• Income Limits: Bond uses the entire household’s income (all adults 18+ plus a non-purchasing spouse). TBA only counts the borrower(s) on the loan.

• Employment & Occupation: At least one occupying borrower must work full-time in an approved Hometown Heroes occupation for a Florida-based employer with a physical in-state location. Remote-only workers are not eligible. (Same rule for TBA.)

• Veterans & Military: Veterans are exempt from the first-time buyer rule but must still work full-time. Active-duty service members qualify with a current LES. (Same for TBA.)

• Property Limits: Bond has county-specific purchase price caps. TBA uses loan amount limits, which are usually higher.

• Credit & Occupancy: Minimum FICO of 640 (660 if manually underwritten). Property must be a primary residence, occupied within 60 days of closing. (Same for TBA.)

Florida Hometown Heroes Bond Income Limits Table

The table shows the income and purchase price limits for the Florida Hometown Heroes Bond Program in 2025.

• The rows list each county.

• The columns break down the limits depending on whether the home is in a targeted or non-targeted area, and whether the household has 1–2 people or 3+ people.

• There’s also a column for USDA limits, which apply statewide, and two columns showing the maximum purchase price allowed in targeted vs. non-targeted areas.

In short: find your county in the left column, then read across to see the income and price caps that apply to your situation.

Note: A targeted area has higher income and purchase price limits to attract buyers into economically distressed neighborhoods. The downside is these areas may come with higher poverty or crime rates despite the looser rules.

Who the Bond Program Is Best For

The Bond option is best for buyers who can fit under its stricter income and household rules and want the extra perks it offers. In simple terms, choose Bond if:

• Your whole household income (including a non-purchasing spouse or other adults in the home) is still under the limits.

• You want a USDA loan—only available through Bond.

• You’re aiming for the lowest possible interest rate on FHA, VA, or USDA loans.

• Your income is ≤80% AMI and you want access to cheaper mortgage insurance with both Fannie Mae and Freddie Mac.

• You’re buying in a federally targeted area, where rules are looser and limits are higher.

On the other hand, TBA may be the better choice if your spouse or other adults in the home have income that pushes you over the Bond limit, or if you want higher purchase/loan caps with fewer documentation requirements.

Think of it this way: Bond is more restrictive, but also more rewarding. TBA is more flexible, but with fewer built-in advantages.

Check Your Florida Hometown Heroes Eligibility

Bond vs TBA: Core Program Differences

Key Takeaways

• The Bond Program is one of two ways to access Florida’s Hometown Heroes funding.

• It has stricter rules than TBA: full household income counts, everyone must be a first-time buyer, and purchase price caps apply.

• In return, Bond often gives lower interest rates, more loan choices (including USDA), and cheaper MI options if your income is ≤80% AMI.

• Targeted areas can make it easier to qualify by waiving the first-time buyer rule and raising caps.

• Both Bond and TBA include the same second mortgage benefit: 5% of the loan amount, $10,000–$35,000, deferred repayment.

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Florida Hometown Heroes Bond Program FAQs

Here are the most common questions buyers have about the Bond option, answered simply:

1. How is the Bond program different from TBA?

Bond counts household income and applies first-time buyer rules to everyone in the home, while TBA only looks at the borrowers on the loan

2. Who has to be a first-time homebuyer under Bond?

Every borrower, a non-purchasing spouse, and anyone on the deed must not have owned a home in the last 3 years

3. What types of loans can I get with Bond?

Bond allows FHA, VA, USDA, Fannie Mae, and Freddie Mac loans—making it the only option with USDA and Fannie Mae

4. How much down payment help do I get?

You receive 5% of the loan amount (minimum $10,000, maximum $35,000) as a 0% second mortgage, repayable when you sell, refinance, or move out

5. Does Bond usually have better rates?

Yes—Bond often posts lower interest rates than TBA for FHA/VA/USDA loans, which can save thousands over time.

6. What about mortgage insurance?

If your income is ≤80% AMI, Bond offers reduced-cost MI through both Fannie Mae and Freddie Mac; TBA only offers reduced MI through Freddie

7. Do veterans have to be first-time buyers?

No—veterans are exempt from the first-time buyer rule, but they must still work full-time (not necessarily in a “hero” occupation)

8. Can I use Bond if I work remotely?

No—remote-only jobs are not eligible; you must report to a Florida location at least part-time

9. What happens if I sell my home too soon?

Because Bond is funded by Mortgage Revenue Bonds, you could owe an IRS recapture tax if you sell or refinance within 9 years under certain conditions

10. Who is Bond best for?

Bond works best for buyers with household income under the limits who want lower rates, USDA access, and cheaper MI—it’s stricter, but more rewarding if you qualify.

Check Your Florida Hometown Heroes Eligibility

Bottom Line

The Bond Program is tougher to qualify for because it uses household income and applies the first-time buyer rule to everyone in the home.

But if you fit under the limits, it often gives you lower interest rates, access to USDA loans, and cheaper mortgage insurance than TBA.

You also get the same down payment help—5% of the loan amount, up to $35,000. For buyers who qualify, Bond is usually the better deal.