A study was recently done that showed the importance of the ‘hometown heroes’ program. According to a report from Redfin, the average U.S. teacher can afford just 12% of homes for sale within commuting distance of their school. That’s down from 17% last summer and 30% in 2019.
In Florida, the Hometown Heroes program – strongly backed by Florida Realtors® – aimed to help teachers and other lower-paying yet vital metro jobs, such as nurses, firefighters, first responders and more. This program provides down payment and closing cost assistance to first-time, income-qualified homebuyers so they can purchase a primary residence in the community in which they work and serve. The Florida Hometown Heroes Loan Program also offers a competitive first mortgage interest rate and additional special benefits to those who have served and continue to serve their country. The program now serves a wider audience after 2023 legislative changes.
Redfin’s study appears to reinforce the need for workforce housing programs in Florida and the nation.
I offer a 20% rebate on commission for teachers and first responders. If you’ve recently thought about buying, let me know help you through the process and get the most for your money.