How does Hometown Heroes help first-time buyers?
Hometown Heroes gives first-time buyers up to 5% of the loan amount (minimum $10,000, maximum $35,000) as a 0%-interest deferred second mortgage. There is no monthly payment on the assistance, it is repaid only when you sell, refinance, or pay off. On a $300,000 home, that is $15,000 you do not need at closing.
Hometown Heroes Funding is FIRST COME, FIRST SERVED
When the annual allocation runs out, new applications wait until the next cycle.
2024 Funding
EXHAUSTED
Gone in 4 months
2025 Funding
EXHAUSTED
Gone in 6 months
2026 Funding
ACTIVE
Going fast
No credit pull · 2 minutes · Free
As a first-time buyer, the biggest question is usually: "How am I going to come up with the down payment?" Hometown Heroes answers that question directly, it hands you $10,000 minimum, up to $35,000 toward your first home with zero monthly payments on the assistance.
What does this actually mean for your wallet?
Here is the real math on a typical Tampa Bay first home purchase. On a $300,000 home with an FHA loan (3.5% down):
- Down payment required: $10,500
- Hometown Heroes covers: $15,000 (5% of your loan)
- Your out-of-pocket for down payment: $0
- Leftover for closing costs: $4,500
That means you could move into your first home with almost nothing out of pocket. The $15,000 sits silently behind your mortgage at 0% interest, no monthly payment, no interest accruing, no impact on your budget.
How to pair Hometown Heroes with your first mortgage
Hometown Heroes works with every major loan type first-time buyers use:
- FHA loan (3.5% down): Most popular pairing. The assistance covers your entire down payment and part of closing costs.
- Conventional loan (3-5% down): Works well if you have a 640+ credit score and want PMI to drop off at 20% equity.
- VA loan ($0 down): Veterans can use the full assistance toward closing costs, and they skip the first-time buyer requirement.
- USDA loan ($0 down): Use the assistance entirely for closing costs if your home is in an eligible area.
When does repayment happen?
Only when one of three things occurs: you sell the home, refinance your first mortgage, or pay off your first mortgage. If you stay in the home and never refinance, you could carry the $0-payment second mortgage for 10, 20, or 30 years. Many first-time buyers live in their home long enough that repayment becomes a non-issue, you have built equity that more than covers the balance.
The one thing first-time buyers need to know: funding runs out
Hometown Heroes operates on a first-come, first-served annual funding pool. In 2024 and 2025, the money was gone within months. If you are thinking about buying your first home this year, getting pre-approved now, before the funding cycle closes, is the most important step you can take.
Buying your first home?
See if Hometown Heroes can cover your down payment, 2-minute check, no credit pull.
Check My EligibilityOr call Barrett directly: (813) 733-7907
Can you stack Hometown Heroes with other programs?
Yes, and this is where first-time buyers get the biggest advantage. You can layer County SHIP funds on top of Hometown Heroes, potentially exceeding $50,000 in combined assistance. Barrett Henry, REALTOR® coordinates with participating lenders to maximize your total benefit.
For the complete program guide with income limits, eligibility details, and the full application process, see the detailed Hometown Heroes guide at tampabaydownpayment.com.
Other programs first-time buyers should explore
- HFA Preferred Plus, forgivable after 5 years (free money if you stay)
- FL Assist, flat $10,000 with no monthly payment
- County SHIP, local funds that stack on top
- National DPA, backup option if state funding runs out
Related Programs to Compare
HFA Preferred Plus
3-5% forgivable after 5 years
View program →FHA Loan
3.5% down, fully covered by stacking DPA
View program →VA Loan
$0 down, no PMI, no income limit
View program →USDA Zero-Down
100% financing in eligible suburban areas
View program →Side-by-Side Comparisons
Related Blog Posts
Pasco County Down Payment Assistance 2026: Get Up to $65,000
Down PaymentDown Payment in Tampa Bay: $0 to 20% Options Compared (2026)
Down Payment AssistanceHometown Heroes 2026: Get Up to $35,000 in Down Payment Help
Lender TipsHow to Choose the Right Mortgage Lender for Down Payment Assistance in Florida
Helpful Resources
Frequently Asked Questions
Can I use Hometown Heroes on my first home?
Yes. Hometown Heroes is designed for first-time buyers, meaning you have not owned a home in the past 3 years. You also need to work full-time for a Florida employer and have a 640+ credit score. Veterans are exempt from the first-time buyer requirement.
How does Hometown Heroes affect my monthly mortgage payment?
It does not add anything to your monthly payment. The assistance is a 0% interest deferred second mortgage, you make no payments on it. Your monthly payment is based only on your first mortgage. The Hometown Heroes balance is repaid when you sell, refinance, or pay off the loan.
Can I use Hometown Heroes with an FHA loan?
Yes. Hometown Heroes pairs with FHA, VA, USDA, and conventional first mortgages originated through Florida Housing participating lenders. FHA is the most common pairing for first-time buyers because of the lower credit score requirement.
What if I am not a teacher or first responder, can I still get Hometown Heroes?
Yes. Despite the name, Hometown Heroes is open to ALL employed Floridians, not just first responders or educators. If you work full-time for a Florida employer, you may qualify regardless of your occupation.
How fast does Hometown Heroes funding run out?
Fast. In 2024 and 2025, the annual funding pool was exhausted within months. Getting pre-approved early in the funding cycle is the single most important step you can take as a first-time buyer.
Your first home is closer than you think
Hometown Heroes funding is limited. Start your eligibility check now, 2 minutes, no credit pull, no commitment.
Check My ProgramsOr call Barrett directly: (813) 733-7907