Skip to content
Fact Checked by Experts

Florida Hometown Heroes Program Loan Limits

The Florida Hometown Heroes Program offers vital financial support to those serving our communities, but it's important to understand its loan limits.

As a key aspect of the program, these "hometown heroes loan limits" dictate the amount of funding available to eligible individuals.

Designed to assist everyday heroes in achieving homeownership, these limits are tailored to accommodate various financial situations.

Understanding these loan limits is crucial for applicants to effectively plan and maximize the benefits offered by the Florida Hometown Heroes Program.




What Are Loan Limits in Florida?

Loan limits in Florida refer to the maximum amount that individuals can borrow through various loan programs, including mortgages.

These limits are not only crucial for prospective homebuyers to understand but also vary based on the type of loan and the specific region within the state.

For programs like the Florida Hometown Heroes Loan, these limits are particularly significant as they directly influence the amount of financial support available to eligible professionals in essential services.

It's important for applicants to familiarize themselves with these limits, as they play a key role in the home buying process, impacting the range of properties that can be considered and the overall affordability of a potential home purchase.


A group of essential workers and stack of coins to represent Hometown Heroes Program loan limits


Hometown Heroes Program Loan Limits in 2023

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


County FHA HFA, VA
Alachua $472,030 $726,200
Baker $526,700 $726,200
Bay $472,030 $726,200
Bradford $472,030 $726,200
Brevard $472,030 $726,200
Broward $557,750 $726,200
Calhoun $472,030 $726,200
Charlotte $472,030 $726,200
Citrus $472,030 $726,200
Clay $526,700 $726,200
Collier $672,750 $726,200
Columbia $472,030 $726,200
DeSoto $472,030 $726,200
Dixie $472,030 $726,200
Duval $526,700 $726,200
Escambia $472,030 $726,200
Flagler $472,030 $726,200
Franklin $472,030 $726,200
Gadsden $472,030 $726,200
Gilchrist $472,030 $726,200
Glades $472,030 $726,200
Gulf $472,030 $726,200
Hamilton $472,030 $726,200
Hardee $472,030 $726,200
Hendry $472,030 $726,200
Hernando $472,030 $726,200
Highlands $472,030 $726,200
Hillsborough $472,030 $726,200
Holmes $472,030 $726,200
Indian River $472,030 $726,200
Jackson $472,030 $726,200
Jefferson $472,030 $726,200
Lafayette $472,030 $726,200
Lake $472,030 $726,200
Lee $472,030 $726,200
Leon $472,030 $726,200
Levy $472,030 $726,200
Liberty $472,030 $726,200
Madison $472,030 $726,200
Manatee $506,000 $726,200
Marion $472,030 $726,200
Martin $500,250 $726,200
Miami-Dade $557,750 $726,200
Monroe $874,000 $874,000
Nassau $526,700 $726,200
Okaloosa $603,750 $726,200
Okeechobee $472,030 $726,200
Orange $472,030 $726,200
Osceola $472,030 $726,200
Palm Beach $557,750 $726,200
Pasco $472,030 $726,200
Pinellas $472,030 $726,200
Polk $472,030 $726,200
Putnam $472,030 $726,200
Santa Rosa $472,030 $726,200
Sarasota $506,000 $726,200
Seminole $472,030 $726,200
St. Johns $526,700 $726,200
St. Lucie $500,250 $726,200
Sumter $472,030 $726,200
Suwanee $472,030 $726,200
Taylor $472,030 $726,200
Union $472,030 $726,200
Volusia $472,030 $726,200
Wakulla $472,030 $726,200
Walton $603,750 $726,200
Washington $472,030 $726,200

Eligibility Criteria for the Hometown Heroes Loan

The Florida Hometown Heroes Loan Program is designed to make homeownership more accessible for community workers who play vital roles in their local areas.

To be eligible for this program, there are specific criteria that applicants must meet, which include both professional qualifications and financial requirements.


Qualifying Professions

Eligibility for the Hometown Heroes Loan is largely determined by the applicant’s profession. Borrowers must be employed full-time by a Florida-based employer, working in essential service roles within the community.

The program caters to a wide array of professions, ensuring those who serve and contribute significantly to their localities can benefit from this initiative. This includes a requirement for the borrower to work a minimum of 35 hours per week in their respective roles.


Financial Requirements

Financial eligibility is a key component of the Hometown Heroes Loan Program. Applicants must meet certain financial criteria to qualify:

  • Credit Score Requirements - All borrowers must have a minimum FICO score of 640, with the requirement being slightly higher at 660 for those purchasing manufactured housing. This credit score requirement ensures that applicants have a responsible credit history.

  • Debt-to-Income Ratio (DTI) - The maximum DTI allowed is 50%, reduced to 45% for manufactured housing. This ratio is crucial to ensure that borrowers can comfortably manage their mortgage payments alongside their existing financial obligations.

  • First-Time Homebuyer Status - Borrowers should be first-time homebuyers, defined as individuals who have not had any ownership interest in a principal residence during the three-year period prior to obtaining the mortgage loan. This criterion aims to support those entering the homeownership market for the first time.

  • Income and Loan Limits - The program has specific income and loan limit requirements that vary by county and household size. These limits are set to ensure the program assists those who need it most, based on the cost of living and average incomes in different regions of Florida.

The Hometown Heroes Loan Program provides substantial financial benefits, including down payment and closing cost assistance, lower first mortgage rates, and tax exemptions, making it a highly advantageous option for eligible professionals dedicated to serving their communities in Florida.


Different Mortgage Options For Hometown Heroes Applicants

The Florida Hometown Heroes Program is tailored to provide a range of mortgage options, catering to the diverse needs of eligible community workers.

These mortgage options are designed to offer financial flexibility and support, ensuring that the dream of homeownership is accessible to more people.

Below are the key mortgage types available under this program, each with its unique features and benefits.


FHA Loans

  • Insured by the Federal Housing Administration (FHA) - FHA loans are particularly appealing due to their more lenient credit score requirements. This makes them an excellent choice for individuals who may not qualify for conventional loans.

  • Benefits - These loans are known for their lower down payment requirements and more flexible lending standards, making them accessible to a broader range of homebuyers.

VA Loans

  • Guaranteed by the Department of Veterans Affairs (VA) - VA loans are exclusively available to veterans and active military personnel. They offer significant advantages for those who have served the country.

  • Benefits - Perhaps the most notable feature is the 100% financing option, eliminating the need for a down payment. Additionally, VA loans do not require monthly mortgage insurance premiums, reducing the overall monthly expenses for borrowers.

USDA Loans

  • Guaranteed by the United States Department of Agriculture (USDA) - These loans are intended to support home purchases in rural areas, contributing to rural development.

  • Benefits - Like VA loans, USDA loans offer 100% financing, making them an attractive option for those looking to purchase homes in eligible rural areas. They also do not require monthly mortgage insurance premiums.

Conventional Loans

  • Not Government-Insured - Conventional loans are standard mortgage options not insured or guaranteed by any government agency.

  • Features - These loans usually require a down payment of at least 3% and typically come with higher interest rates compared to government-insured loans like FHA and VA loans. However, they offer more flexibility in terms of property types and are widely available through various lenders.

When considering these mortgage options, it's crucial to evaluate individual circumstances such as income, credit score, and the specific type of property being purchased.

Working with a qualified lender can provide personalized advice and guidance, helping borrowers determine the most suitable mortgage option for their needs under the Florida Hometown Heroes Program.

This tailored approach ensures that each participant maximizes the benefits offered by the program while securing a mortgage that aligns with their financial situation and homeownership goals.


How to Find a Hometown Heroes Program Lender

Finding a lender for the Florida Hometown Heroes Program is a crucial step in accessing the benefits it offers for homebuying.

The process to find and work with a participating lender involves several steps, each playing a key role in ensuring you successfully navigate the program.

Here's a guide on how to find and work with a Hometown Heroes Program lender:


Step 1 - Locate a Participating Lender

  • Research - Start by visiting the Florida Housing Finance Corporation website, which provides a comprehensive list of participating lenders.

  • Alternative Option - You can also contact services like MakeFloridaYourHome through their website to get immediate assistance.

Step 2 - Apply for the Program

  • Application Process - Once you've identified a participating lender, the next step is to apply for the Hometown Heroes Program through them.

  • Eligibility Assessment - The lender will review your application to determine if you meet the program’s eligibility criteria.

Step 3 - Making an Offer on a Home

  • Approval Requirement - If your application is approved, you can then proceed to make an offer on a home. Note that the lender must approve the loan before you can finalize the purchase.

Step 4 - Reserve the Funds

  • Reservation Fee - Upon loan approval, you will need to reserve the funds by paying a reservation fee, typically 1% of the down payment assistance amount.

Step 5 - Closing on the Home

  • Final Step - Once the funds are reserved, you can move forward to close on the home. The lender will provide you with the down payment assistance funds at the time of closing.

The entire reservation and loan delivery process usually takes between 30 to 60 days. However, it's important to note that this timeline can vary, especially if there are delays in the underwriting process.


By following these steps, you can efficiently find a lender that participates in the Florida Hometown Heroes Program and navigate the process of applying for and receiving assistance.

This structured approach ensures that you remain informed and prepared at each stage, ultimately leading to a successful home purchase under the program.


Hometown Heroes Program FAQ

Here are some frequently asked questions about the Florida Hometown Heroes Program to help you understand its features, benefits, and recent changes.


What is the Florida Hometown Heroes Program?

The program is designed to provide down payment assistance to working Floridians aiming to purchase a home. It's open to all gainfully employed residents of Florida, not just frontline heroes, and offers up to $35,000 in down payment assistance for the fiscal year 2023-2024.


Who is eligible to participate in the program?

Eligibility includes being a first-time homebuyer, having a minimum credit score of 640, earning an income less than 150% of the area median income for your county, and being employed by a Florida-based employer.

As of November 2023, Veterans are exempt from the first-time homebuyer requirement.


What are the changes to the program effective July 1st, 2023?

Key changes include increasing the maximum down payment assistance from $25,000 to $35,000, expanding eligibility to all working Floridians, and an additional $100 million in funding for the 2023-2024 fiscal year.


What are the different mortgage options available under the program?

The program offers FHA, VA, USDA, and conventional loans. Each has its own features, such as FHA loans' lenient credit requirements and VA loans' 100% financing without a down payment.


What are the income and maximum loan limits for the program?

Income and loan limits vary by county. For instance, in Miami-Dade County, the maximum income is $154,800, and the loan limit is $557,750. These limits can be found on the Florida Housing Finance Corporation website.


How can I find a Hometown Heroes Program lender?

Start by finding a participating lender on the Florida Housing Finance Corporation website or contact MakeFloridaYourHome.

After applying and getting approved for the program, you can reserve funds by paying a reservation fee, typically 1% of the down payment assistance amount.


What are the Florida Tax Exemption Benefits of the program?

Participants can save thousands of dollars through exemptions from documentary stamp tax and intangible tax for first and second mortgages and notes secured by loans for housing financed through Florida Housing's Homebuyer Programs.


Where can I find more information and who can I contact with questions about the program?

For more information, contact MakeFloridaYourHome, which oversees the Florida Hometown Heroes program. They offer assistance in understanding the program's eligibility criteria, application process, and more.

For further details, individuals are encouraged to visit the Florida Housing Finance Corporation website or reach out to MakeFloridaYourHome for personalized guidance and support.


The Florida Hometown Heroes Program stands as a significant initiative, providing essential financial support to those dedicated to serving our communities.

As you navigate through the specifics of this program, there are key takeaways to keep in mind:

  • Loan Limits Matter - Understanding the hometown heroes loan limits is critical. These limits, which vary by county and profession, directly affect the funding you can receive and ultimately impact your home-buying options and affordability.

  • Eligibility is Broad Yet Specific - The program isn't limited to frontline heroes alone; it's open to all gainfully employed Floridians. However, meeting specific criteria such as credit score, income limits, and employment status is essential for eligibility.

  • Diverse Mortgage Options - The program offers a variety of mortgage options including FHA, VA, USDA, and conventional loans, each tailored to different needs and situations. This variety ensures that you can find a mortgage plan that suits your financial circumstances.

  • Access to Expert Guidance - Finding a participating lender and navigating the application process can be streamlined by seeking assistance from resources like the Florida Housing Finance Corporation or MakeFloridaYourHome. These platforms provide valuable guidance every step of the way.

  • Enhanced Benefits - The program not only assists with down payments but also offers tax exemptions, potentially saving you thousands of dollars. These benefits make homeownership more attainable and financially sustainable.

  • Stay Informed - With the program’s continuous evolution, staying updated on the latest changes and enhancements is important. This ensures you can leverage the maximum benefits available to you.

In conclusion, the Florida Hometown Heroes Program is a valuable resource for Floridians looking to achieve homeownership.

By understanding its intricacies and utilizing the available resources, you can effectively navigate this program to realize your dream of owning a home.

Remember, this program isn't just about financial assistance; it's a tribute to the dedication and service of community heroes across 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.

Find The Right Mortgage

For more than 20 years, Phil have been helping customers achieve their home purchase and refinance goals by providing them with invaluable resources and support.

Schedule a FREE Consultation
Phil Ganz