Veterans and active duty service members looking to buy a home in Florida may find the process financially easier, thanks to a new home loan program that will be offered by the state.
Gov. Ron DeSantis announced the unveiling of the “Salute Our Soldiers” Military Loan Program Feb. 19.
"To start, Florida Housing will set aside funds to assist over 1,000 veterans and active-duty military members by making the home buying process easier and more affordable,” DeSantis said in a press release.
He added that more veterans calling Florida home is a “great thing for all involved.”
The program will be administered by the Florida Housing Finance Corporation. It offers up to $8 million in a variety of down payment and closing cost assistance, coupled with low-interest rate first mortgages. There are also down payment and closing cost assistance options that will be forgivable after five years.
“Florida Housing is grateful to our Veterans and active-duty military members for their service and sacrifice to this country,” said Florida Housing Executive Director Trey Price. “To show our appreciation, we, along with Governor DeSantis, wanted to provide them with an incentive to put down roots and call Florida home.”
The program will be available starting March 2. For more information, visit Florida Housing’s Homebuyer Loan Program Wizard at www.floridahousing.org/.