Floridia - Housing - Loan Eligible workers could receive up to 5% of their mortgage amount in down payment and closing cost assistance.
Image via Shutterstock.

To finance this home buyer program, the Florida governor used a large portion from the state affordable housing fund.

Florida launched on Monday a program called “Hometown Heroes” to help workers buy their first home. But the governor is using state funds originally allocated to affordable housing for this program that only helps workers from a select group of professions.

Gov. Ron DeSantis announced the $100 million initiative that will help workers in 50 career sectors including, teachers, firefighters, childcare employees, and nurses with a down payment and closing costs

Eligible workers could receive up to 5% of their first mortgage loan amount, up to $25,000, in down payment and closing cost assistance.

But the programs come at a time when many Floridians are struggling to pay rent. The state is becoming unaffordable because rents have risen by nearly 30% in some cities, like Miami.

Rep. Anna Eskamani (D-47) claimed that “Hometown Heroes” will only help a group of workers.

In addition, she said that the $100 million that DeSantis will use for the program comes from the $209 million allocated to the State Housing Initiative Partnership Program (SHIP).

The SHIP program supports local-government programs that encourage the construction of affordable housing and assist low-income residents with repairs, down payments, and closing costs.