Hometown Heroes House Hacking

[Eric Wittenburg]

Me and my fiancé are saving up for a house hack in the Tampa area.  Starting July 1 2023, the Hometown Heroes program will be available to all first time homebuyers in Florida, regardless of occupation. We are considering the pros and cons for this route to see if it would be right for us. The obvious benefit we see is being able to get into the game for little to no money down. Does anyone have experience using this program for a house hack? Any insight into benefits or risks? 

[Josh Green]

Hey Eric,

I've done this a few times with clients and am super excited with the occupation requirement removal.  It's a no-brainer to get into a house-hack; the program reduces some of the closing costs and is not a loan and does not have interest.  

The only CON really is you do have to pay it back - but it's literally free leverage.  If a bank was willing to lend me money to buy real estate with no interest on it, i'd leverage as much as I could.