All Forum Posts by: Chelsea Dillon

@Obed Calixte Obed, thank you for your response. I will definitely make a plan that includes paying back the hometown hero loan and will keep ADU in mind when shopping for properties.

@Kristina Kuba Hey Kristina, this is a detailed plan! I love the support! I’m going to do more research on interest rates and cash out refi. Definitely keeping this plan close by. Also thanks for the neighborhood advice.

Hello,

I live in the Tampa Bay area and recently got approved for the recently passed Hometown Heroes program for the state of Florida. This is a down payment and closing cost assistance program for first time home buying teachers, first responders, police officers, etc. I see this as an opportunity to get started with investing in real estate.

Short breakdown of program:

-Must be primary residence

-eligible home buyers will receive up to 5% of their first mortgage loan amount (up to a maximum of $25,000) in down payment and closing cost assistance in the form of a 0%, non-amortizing, 30-year deferred second mortgage.

-can be refinanced or sold after 6 months

My question is what would you do to turn this opportunity into an investment?

Thank you!

Chelsea D.