St. Pete, Florida Millennial Newsletter

May 23, 2024 by The727Team

Some good news for first time home buyers in Pinellas County! Starting July 1, 2024 the Hometown Heroes program will start to offer closing costs and downpayment assistance up to $35,000 in the form of a 0% interest second mortgage.

The income cap is around $130,000/year, does that sound like something you’re interested in? Let me know and I’ll put you in touch with my mortgage lender, Joseph Nowacki with Guaranteed Rate AKA Joe Money. Per Joe Money – they’re allocating 100 million which should last 4-6 months. 

From the Hometown Heroes Website

Borrowers can receive up to 5% of the first mortgage loan amount (maximum of $35,000) in down payment and closing cost assistance.

Down payment and closing cost assistance is available in the form of a 0%, non-amortizing, 30-year deferred second mortgage. This second mortgage becomes due and payable, in full, upon sale of the property, refinancing of the first mortgage, transfer of deed or if the homeowner no longer occupies the property as his/her primary residence. The Florida Hometown Heroes loan is not forgivable.

In addition to that – We can also ask for seller paid closing costs so you can allocate more of these Hometown Heroes funds towards your downpayment. 

Here’s a link to their website if you’d like to check it out yourself.

Inventory is back at 2019 levels, lots of houses to choose from. Just many of them are still over priced so don’t be afraid to put in a lower offer. I’m not scared to throw in some lower offers, no shame in my real estate game. 

One other thing I learned about recently is this website that helps you find homes that may have assumable loans – the catch is you’d have to come up with the money to bridge the gap between what your contract price is and whatever is remaining on the seller’s mortgage. Check out this site if you’re curious.


Golden Retriever Meetup @ Mutts & Martinis

Mutts & Martinis has been hosting events for all different types of dogs and this Saturday is for Goldens! They’re also having other breed meetups throughout the day. Here’s the link for the Goldens.

Johns Pass Sandbar Memorial Day Weekend Party

I went to this a few years ago as the boat captain and oh my god it was so stressful. My advice is to go with someone who is driving so you don’t have to. Either that or show up early so you don’t have to anchor in water 200 feet out and 15 feet deep. Here’s the FB link. 

In Conclusion

Another short and sweet newsletter. Feel free to reach out to me via phone or text if you have any residential real estate questions 727-307-1111. Have a great weekend!!!