Florida residents have an exclusive opportunity to purchase their first home. It turns out that the well-known Florida Hometown Heroes program no longer restricts some professions as of July 1st. From this point on, only the applicant’s income is taken into account and no longer the applicant’s occupation.
This is thanks to the new state law SB 102, which applies to this sensitive issue. Since it came into effect a little less than a month ago, many applicants for the “Sunshine State” have already benefited.
The aid program mentioned above for those who want to buy a home for the first time provides $100 million for this purpose.
The working class will have the opportunity to receive credits of a minimum of $10,000 and a maximum of $35,000. The money will be used to cover the deposit and closing costs of the purchase contract.
Who is eligible for these loans?
The first is that you didn’t have a home before. In addition, a buyer is considered to be a person who has not been involved in any property title in the past three years. Another relevant fact is that the credit rating must be 640+.
Don’t forget that if you want to apply for these loans offered by Florida Hometown Heroes, you must have a steady job working at least 35 hours per week. Likewise, you will be verified through an application created for this purpose and your company must have a physical presence in Florida.
The program has several benefits, but it doesn’t mean the house is vacant or that you won’t repay the loan.
If you make a transfer, sale, or refinance in the future, you will need to pay off the debt. The current aid is ideal because it stimulates the market and can make people’s dreams of owning their own homes come true.
It’s sort of like a second mortgage, but the good news is that the interest rate is zero for 30 years.