$362 Million For Homeownership Programs
Posted by Vicki Flyth on Thursday, June 23rd, 2022 at 3:59pm.
TEACHERS, FIREFIGHTERS, NURSES, & LAW ENFORCEMENT TO NAME A FEW HOMETOWN HEROS.
Homeownership triumphed during the 2022 Florida legislative session, which ended on March 14, 2022. Working closely with with state lawmakers, Florida Realtor successfully advocated for $362 million for housing programs. This amount also includes $100 million for the organization's 2022 priority, the Hometown Hero Housing Program.
The Hometown Hero Housing Program is a new revolving loan program for qualified Hometown Hero's. This loan reduces the upfront costs for these homebuyers by providing 0% interest loans to help with down payment and closing costs. The loan is repaid once the home is sold, rented or refinanced.
Another possible benefit would be granting an additional $50,000 homestead property tax exemption if voters approved this in the November election.
Other programs available for homeownership initiatives, in addition to the $262 million is State Housing Initiatives Partnership (SHIP) to help with home ownership in various cities. You can call your city and ask about their SHIP program and its criteria.
You can read the full article in Florida Realtor/June 2022