Estimate your Hometown Heroes assistance
See your repayable second-mortgage assistance, monthly payment, cash to close, and county eligibility — in about a minute. It's an estimate; your lender confirms the numbers.
Hometown Heroes Assistance Estimator
Estimate your assistance and monthly payment in a minute. Remember: this assistance is a repayable second mortgage — not a grant and never forgiven — so the full amount comes due when you sell, refinance, or pay off your first mortgage.
How much assistance can you get?
Your assistance equals 5% of the total loan amount, with a minimum of $10,000 and a maximum of $35,000. The calculator estimates it from your first mortgage; your lender confirms the exact figure at reservation.
- 0% interest, 30-year deferred second mortgage.
- $0 monthly payment — and it does not count toward your debt-to-income ratio.
- It is a repayable second mortgage — never a grant, and never forgiven.
- It cannot be a stand-alone product: it must close with a Hometown Heroes first mortgage, and cannot be combined with another Florida Housing down-payment program.
TBA vs. Bond — it changes two things
The funding option you choose changes both the income test and your interest rate. Pick the wrong one and your estimate is off, so this is worth getting right with your lender.
TBA (The Bond Alternative)
- Counts only the credit-qualifying / AUS income of the borrowers on the loan (including a non-occupying co-signor).
- No household-size adjustment.
- First-time-homebuyer status is checked for occupying borrowers only.
Bond
- Counts all occupants aged 18 and older.
- Adjusted by household size.
- First-time-homebuyer status is checked for all borrowers, a non-purchasing spouse, and anyone on the deed.
A change from Bond to TBA is not allowed unless the property address changes.
First-mortgage interest rates
Current Hometown Heroes first-mortgage rates by funding option and loan type. Rates change daily — your lender confirms the rate in the eHousingPlus portal at lock.
| First mortgage | Bond | TBA |
|---|---|---|
| Government — FHA / USDA-RD / VA | 6.250% | 6.500% |
| Freddie Mac HFA Advantage (conventional) | 6.500% | 6.750% |
| Fannie Mae HFA Preferred (conventional) | 6.750% | Not offered under TBA |
Rate card effective 7/22/2026. The second-mortgage assistance is always 0% interest.
It's repayable — and never forgiven
Unlike a forgivable grant, the Hometown Heroes second mortgage is never forgiven. The full balance becomes due when any of these happen:
- You sell the home.
- You transfer the deed.
- You pay off (satisfy) the first mortgage.
- You refinance the first mortgage.
- You stop occupying the home as your primary residence.
The program is for purchases only — it can't be used to refinance an existing loan.
Fees, waived origination, and tax exemptions
Hometown Heroes carries a defined fee schedule and two meaningful savings baked in:
- Tax service fee: $85
- Compliance fee: $275
- Funding fee: $400
- Origination fee: $0 — the standard 1% origination fee is waived, and lenders may not charge it.
- Documentary stamp + intangible tax: exempt on both the first and second notes and mortgages (deeds are not exempt).
The calculator applies the $85 / $275 / $400 fees and your assistance to estimate cash to close; title, prepaids, and appraisal are quoted by your lender.
Calculator FAQ
Is this a grant?
No. It is a 0% interest, repayable second mortgage — never a grant and never forgiven. The full amount (5% of your total loan, from $10,000 to $35,000) is due when you sell, refinance, or pay off your first mortgage.
How much can I receive?
5% of the total loan amount, with a $10,000 minimum and a $35,000 maximum.
Does it add to my monthly payment or DTI?
No. The second mortgage is deferred: $0 per month, and it does not count toward your debt-to-income ratio.
Should I choose TBA or Bond?
They differ on the income test and the rate. TBA counts only the borrowers' income with no household-size adjustment; Bond counts all occupants 18+ and adjusts for household size. Your lender will confirm which fits and applies the matching rate.
Can I use it to refinance?
No — the program is for purchases only, and refinancing your first mortgage triggers full repayment of the assistance.
Estimate only. Not a loan approval, commitment to lend, or offer of assistance. Figures are approximate, depend on the inputs you provide, and exclude some costs. Actual rate, mortgage insurance, fees, and eligibility are set by the lender and the Florida Housing Finance Corporation. Hometown Heroes assistance is a repayable second mortgage, not a grant.