Florida Native land Heroes Housing Program






As a number one loan dealer, MortgageDepot is proud to supply the Florida Native land Heroes Housing Program to eligible front-line staff within the state of Florida. This program is designed to make homeownership extra inexpensive for individuals who serve our communities each day, together with legislation enforcement officials, firefighters, educators, healthcare execs, childcare staff, and lively army or veterans.

Right here’s what you wish to have to understand concerning the Florida Native land Heroes program:


  • Debtors will have to now not exceed the utmost revenue prohibit necessities for the county the place the valuables is being bought.
  • All debtors will have to be thought to be first-time homebuyers.
  • A minimum of one borrower will have to be hired in an licensed profession, and will have to supply verification of full-time employment of 35 hours or extra a week.
  • Veterans and active-duty army contributors are exempt from all first-time homebuyer necessities until collaborating within the HFA Most popular Heroes program.
  • First-time homebuyer counseling is needed for all debtors using revenue from an licensed profession.


  • Standard loans: HFA Most popular Heroes (Fannie Mae) and HFA Merit Heroes (Freddie Mac) be offering eligible debtors a 30-year, fixed-rate loan. Debtors with revenue under 80% of the realm median revenue (AMI) might qualify for lowered personal loan insurance coverage (PMI) premiums.
  • FHA, USDA, and VA loans: AMI does now not have an effect on the MI price.


  • Florida ONLY.
  • 30-year constant Standard, FHA, USDA, and VA mortgage varieties.
  • Number one purchases ONLY: 1-unit single-family flats and PUDs, 2-4 devices.
  • Borrower will have to occupy 1 unit as their number one place of dwelling and the valuables will have to be no less than 5 years outdated.
  • Condos and manufactured properties will have to observe company necessities.
  • Not more than 15% of a assets can be utilized for industry functions and will have to observe company necessities.
  • Minimal FICO rating of 640 (660 for manufactured properties).
  • Most debt-to-income (DTI) ratio of fifty% with Approve/Eligible findings (45% for manufactured properties).
  • Borrower(s) can not personal another homes (except for veterans or lively army contributors).
  • Conforming mortgage limits ONLY – no Top-Stability.
  • Mortgage will have to be originated within the dealer channel – no correspondent.
  • No non-occupying co-borrowers or co-signors.
  • No escrow waivers.
  • No co-ops, single-wide manufactured properties, or land trusts.
  • No brief price buydowns.
  • No standalone or piggyback HELOCs.


  • Debtors can obtain as much as 5% of the mortgage quantity (capped at $25,000) in down cost and shutting price help.
  • Down cost and shutting price help is to be had within the type of a zero% pastime, non-amortizing, 30-year repayable 2d loan.
  • The down cost and shutting price help can be utilized to fulfill the borrower’s down cost, any down cost exceeding the minimal borrower requirement, and affordable and common remaining prices.
  • The Florida Native land Heroes mortgage isn’t forgivable and turns into due and payable in complete upon sale of the valuables, refinancing of the primary loan, switch of deed, or if the house owner not occupies the valuables as their number one place of dwelling.

At MortgageDepot, we’re dedicated to serving to eligible front-line staff download the Florida Native land Heroes mortgage to make homeownership extra inexpensive. If you have an interest on this program or have any questions, please touch us to get began.

Hook up with certainly one of our mortgage experts to be informed extra.

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