Hometown Heroes Pros vs Cons

[@livic5602]

Is this only for Florida?

[@rodadvantage7659]

Great job brother.

[@CrackpotPatriot]

Thank you for taking the time to explain this -grant vs loan- and also: WONDERFUL PENMANSHIP!

[@ReachHomeLoans]

Thank you!!

[@richiestarks6163]

Very good information to know. These types of loan information that we need to know.

[@jdperalta84]

Thank you for this info. I could see why lenders would support this program as it "traps" you into not being able to refinance easily. I was considering this but i definitely am not anymore as that is a pretty BIG con. Ty again.

[@cmg1975]

So... hypothetically speaking one could use HH program to help secure a home at $550k, sell it 2 years later at $850k but would forfeit 35k of the profits? Walking out with something north of $200k

[@80sgyrl82]

The school district has been promoting this program heavily. I'm spreading the word amongst my colleagues that this is not "free money." A loan that you will pay on the back end. What a rip for the public service workers. Thanks for clarifying.

[@ReachHomeLoans]

You're welcome!

[@shemiahschene6494]

There’s no such thing as free money. I always tell my clients that.

[@heavybrandpodcast]

Can it be combined with the VA home loan?

[@JayyJayyO7]

Can you buy down the rate with HTH?

[@johnhoward8081]

Can you buy down the intrest rate ?

[@carmellavegas777]

Can you stack this program with first time home owner program?

[@NK-vw4ms]

would you recommend using hometown heroes as 5% down, and then not doing anything else down? essentially 0% down aside from the grant? that way you can use the "grant" but then keep cash if you have any equity or re-finance issues later down the road.

[@rolandoaguilera4216]

Does frontline staff qualify even if they already purchased a property 5 years ago?

[@charoletteduffy6797]

Thanks for explaining that you’d think that since it’s for people who are essential workers they would’ve had a 580 or no score especially considering many of us are recovering from the pandemic

[@nicolasfernandez2773]

When do you pay the hometown heroes loan? Let’s suppose you don’t refinance, the home stays your primary residence, the home is not sold, and the deed is not transferred.

[@parkour267]

Its a 30 year loan so in that case just has to be paid off at the end of the 30 year term

[@LukeTheobald]

Can you elaborate a bit on that big con point? Why do you have to fully pay off the first mortgage in order to refinance? I don’t quite follow

[@ReachHomeLoans]

When you refinance a mortgage, the existing loan is paid off using the new one. This program requires that any loans on the home are paid off when you refinance.

[@raptorscrack3857]

Is this program still available in Florida? Every time I go to the online wizard it doesn't show this program.

[@mariafontanella4]

Hi, my name is Flo, I am a real estate agent in FL, yes, it is, we offer it all the time

[@Tomasl1034]

If i am a massage therapist working in health care can i get this loan ?

[@ReachHomeLoans]

The program has officially opened to any first-time homebuyer in the state of Florida! There are some eligibility requirements as far as credit, income, etc go. Please contact us at 754-946-4292 for more info and to see if you qualify for this program!!

[@ams14691]

What if you change career paths to a non qualified profession after getting the loan?

[@ReachHomeLoans]

Great question! Here is the answer directly from Florida Housing: "We certainly couldn’t require that a buyer retain the same occupation post-closing. We simply require that buyers under HTH are employed, full-time, in one of the eligible occupations and hold the necessary license or certification at time of closing."

[@jadyromero8549]

Ponemos yna tasa de interesa mal alta usando este programa

[@CrypticCobra]

So esentially if you have fuck all cash in hand you can use the program to get that up front cost covered, in exchange for a slightly worse interest rate on the primary loan.... Ya that's a shit deal. If you can't afford the up front cost you have no business putting yourself into a situation like this. Get the cheaper interest payment, that is the only option.

[@anthonyallan8462]

It's actually been .5 percent less interest going this route instead of a traditional conventional. Probably because interest rates are so dang high.

[@BLUEPRINTCAM]

It’s 0% interest and also you pay it back when you sell so it’s a win win - I don’t understand your cons … if you sell once your value is up you’ll pay AND still have money left over and way more than what you started with … bad judgement

[@johnoconnor5051]

The most idiotic attempts at explaining a program that I have ever seen or heard

[@parkour267]

If you couldn’t understand him on a loan that very much exists even tho you haven’t heard of it, means u must be the idiot