Down Payment Assistance in Monroe County: Hometown Heroes and the County Program
Up to $35,000 from the Florida Hometown Heroes Housing Program, plus Monroe County's own county assistance. Income limit here: $214,950.
Hometown Heroes › County Housing Programs › Monroe County
Monroe County home buyers who serve their community, from nurses in Key West to deputies and teachers across the county, can look at two kinds of help: the state's Hometown Heroes program and the county's own down payment assistance.
Monroe County's Hometown Heroes income limit of $214,950 is the highest in Florida. Monroe County's FHA loan ceiling is $990,150; a first mortgage that size would draw $35,000 under the 5% rule.
Income limit (FHA / VA / HFA)
$214,950
Income limit (USDA)
$151,900
Max loan, FHA
$990,150
Max loan, HFA / VA
$990,150
Hometown Heroes help
5% of first mortgage, $10,000 to $35,000
County seat
Key West
Income limits: TBA funding option, effective May 6, 2026. Loan limits effective Jan 2, 2026. Source: Florida Housing Finance Corporation Hometown Heroes lender guide. Bond-funded limits may differ.
Two sources of down payment help in Monroe County
Florida Hometown Heroes (state)
Statewide and run by Florida Housing Finance Corporation. You borrow 5% of the first mortgage at 0% interest, make no payments, and repay the whole balance later, when you sell or refinance. It is never forgiven, and money is reserved first come, first served. Read the full Hometown Heroes guide.
Monroe County local assistance (SHIP-funded)
Each year Florida sends Monroe County a share of State Housing Initiatives Partnership (SHIP) funds, at least $350,000. The county's housing office writes its own Local Housing Assistance Plan, which sets who qualifies, how much is offered and whether that help is forgiven over time.
Monroe County government website · Florida Housing SHIP local contacts
Whether the two can be combined depends on both programs' rules at the time you apply. A participating lender confirms before funds are reserved.
Hometown Heroes jobs in Monroe County
Eligibility starts with your job: full-time work for a Florida-based employer in an approved occupation. Teachers and school staff (Monroe schools), sheriff's deputies and corrections staff (Monroe Sheriff), nurses, paramedics and childcare workers in Monroe County are among the eligible groups.
We have dedicated mortgage guides for many of these jobs:
- Healthcare: mortgage options for physicians and doctors
- Healthcare: mortgage options for nurses and medical professionals
- Public safety: mortgage options for corrections officers
- Public safety: mortgage options for police officers
- First responders: mortgage options for firefighters
- First responders: mortgage options for EMTs and paramedics
- Education: mortgage options for teachers and school staff
- Military: mortgage options for active-duty military and veterans
Monroe County is home to Naval Air Station Key West, Coast Guard Sector Key West. Active-duty service members, Reserves, Coast Guard and Florida National Guard members are eligible.
Where you can use it in Monroe County
There is no neighborhood restriction inside Monroe County: Key West, Big Pine Key, Islamorada, Key Colony Beach, Key Largo, Long Key, Marathon and unincorporated areas all qualify. It has to be your primary residence, and manufactured homes must be 1994 or newer.
USDA loans are not available in Monroe County; FHA, VA and conventional HFA loans are the usual first mortgages here.
Check property records and taxes with the Monroe County Property Appraiser.
Monroe County housing news
- Harborside Senior Living CEO Making Assisted Living More Affordable in Monroe County Ask About Up to $25K in Annual Care Support (PRLog, Oct 2, 2026)
- Trial date set for former Monroe County deputy accused of sexual assault (news8000.com, Oct 1, 2026)
- Florida Counties with the Highest and Lowest Property Tax Rates (Florida for Boomers, Sep 22, 2026)
- Monroe County firefighters save girl trapped in Florida Keys house fire (Miami Herald, Sep 21, 2026)
Updated Oct 6, 2026.
Monroe County Hometown Heroes questions
What is the Hometown Heroes income limit in Monroe County?
For FHA, VA and conventional HFA loans, the 2026 Hometown Heroes income limit in Monroe County is $214,950 (TBA funding, effective May 6, 2026). For USDA loans it is $151,900. Under the TBA option, only the income of borrowers on the loan is counted, not the whole household.
Do I have to pay back Hometown Heroes assistance in Monroe County?
It is not a grant. Hometown Heroes is a 0% interest, deferred second mortgage with no monthly payment. It is repaid in full on sale, transfer of deed, satisfaction of first mortgage, refinance of first mortgage, or if the home stops being your primary residence. Local programs funded through Monroe County's SHIP allocation can be structured differently, which is why it pays to compare both.
Does Monroe County have its own down payment assistance program?
Yes. Every Florida county, including Monroe County, receives state SHIP (State Housing Initiatives Partnership) funds, a minimum of $350,000 a year, and can use them for down payment and closing cost help. Monroe County sets its own income caps, amounts and repayment terms in its Local Housing Assistance Plan, and funding windows vary.
Does Hometown Heroes cover service members stationed in Monroe County?
Yes. Active-duty U.S. military, Reserves, Coast Guard and Florida National Guard members are eligible occupations, including personnel at Naval Air Station Key West and Coast Guard Sector Key West. Under the TBA option, active-duty members with a current LES are exempt from the first-time buyer requirement, and veterans discharged other than dishonorably (DD214) are exempt too.
What is the maximum Hometown Heroes assistance in Monroe County?
Assistance is 5% of your first mortgage amount, with a minimum of $10,000 and a maximum of $35,000. Monroe County's FHA loan ceiling is $990,150; a first mortgage that size would draw $35,000 under the 5% rule.
Who can help me apply for Hometown Heroes in Monroe County?
Hometown Heroes is reserved through Florida Housing–approved participating lenders, first come, first served. Stairway Mortgage (Jim Blackburn, NMLS #1072866) can review your occupation, income against the Monroe County limit, and whether Monroe County's local program fits alongside it.
Jim Blackburn, NMLS #1072866 · Stairway Mortgage. Program terms, limits and funding availability are set by Florida Housing Finance Corporation and Monroe County and can change. Estimates are not a commitment to lend. Equal Housing Opportunity.