Leaders from Naples Area Board of REALTORS® (NABOR®) joined many Florida Realtor® officers and neighboring board presidents at a press conference on Monday, May 23rd where Governor Ron DeSantis announced the official launch of the Florida Hometown Heroes Housing Program. Effective June 1, 2022, the new program will provide many new financial assistance opportunities to Floridians in over 50 critical professions who want to purchase primary residences in communities where they live, work, and serve. REALTORS® who are searching for resources about the new program to help potential buyers determine whether they qualify for it have many options including videos, handouts, social media assets, and interactive websites.

“The Hometown Heroes Housing Program will benefit many of our hardworking professionals in Collier and Hendry counties,” said Representative Lauren Melo. “During the 2022 Legislative Session, Florida Housing received $100 million to establish the program. Funds will aid community workers in 50 different eligible professions with down payment and closing cost assistance. I’m proud of the work the Florida Legislature has done to help these first-time homebuyers. As past president of NABOR® and as a Broker, I’m very excited to have this program and funding available for my customers!”

The program will be administered by the Florida Housing and Finance Corporation, who also manage many existing homeowner assistance programs in Florida. The new program provides eligible income-qualified workers with lower-than-market rates on FHA, VA, USDA, Fannie Mae or Freddie Mac first mortgages, reduced upfront fees, and no origination or discount points. The program also provides zero-interest, 30-year-deferred loans on 5 percent (or up to $25,000) of the mortgage loan amount to cover down payments and closing costs.

The new program also replaces the Salute Our Soldiers program (same requirements apply) and allows for active military, veterans, and surviving spouses of veterans to use the Hometown Heroes Housing program.

As noted above by Representative Melo, Florida Housing received $100 million from the state Legislature this year to establish and administer the Florida Hometown Heroes Housing Program. To qualify for this program, homebuyers must connect with a participating lender, have a minimum credit score of 640, provide certification for one of the eligible occupations, and meet the income threshold for their county.

Another helpful tool REALTORS® can share with homebuyers that want to determine whether they qualify for the new program is Florida Housing’s Homebuyer Loan Program Wizard. This tool also connects potential homebuyers with a Florida Housing-approved lender who will help them determine how much home they can afford under this new program.

RESOURCES FROM FLORIDA REALTORS®: To encourage Florida Hometown Heroes Housing program use, Florida Realtors® unveiled a new website – www.housingforheroesfl.com – that includes a variety of helpful tools and data about the program such as a homebuyer handout, a whitepaper, a sharable video, and a social media toolkit.

“Florida Realtors®’ new website is a timely asset as it arms REALTORS® with vital information to attract and keep close those professionals who are critical to our town’s stability,” said Ryan Bleggi, NABOR® President. “Demand for homes in Naples over the past two years has depleted inventory and reduced the number of affordable home options for many first-time homebuyers. As the first touchpoint for many people looking to purchase a property in Naples, REALTORS® do more than simply sell homes; they also guide buyers as they look for funding solutions during this big life and investment decision. We are grateful to Florida Realtors® and our allies in government including the governor and local Representatives Lauren Melo and Bob Rommel for their work in getting the Hometown Heroes Housing Program to those who keep our community safe and great for everyone.”

The downloadable income data analysis report (whitepaper) is especially useful as it provides REALTORS® with an historic perspective and real income data on the target demographic, by region. The whitepaper also includes examples on how the Hometown Heroes Housing Program can reduce homebuying barriers for those in the 50 critical professions.

Florida Realtors® posted a press release on May 31, 2022, with more information about the program and helpful resources REALTORS® can share with clients.

To find a REALTOR® in Collier County (excluding Marco Island) who can help Hometown Heroes and other homebuyers navigate the local housing market and financial assistance programs or special loan/financing options, visit NaplesArea.com.

This article originally appeared on Naples Daily News: Several tools available for REALTORS® to help understand new program