Salute Our Soldiers Military Loan Program

What is Salute Our Soldiers Military Loan Program?

Salute Our Soldiers Military Loan Program is a deferred second loan for homebuyers in Florida.

• Below-market interest rate first mortgage paired with up to $35,000 (5% of first mortgage) 0% deferred second mortgage for active duty military, veterans, and reservists purchasing in Florida.
• Funding comes from State.

How much assistance does it provide?

Salute Our Soldiers Military Loan Program offers up to $35,000 in assistance.

• The program can be combined with other assistance, subject to the rules of each.
• Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Salute Our Soldiers Military Loan Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, Refinance, and Transfer of Title.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Salute Our Soldiers Military Loan Program is open to buyers who will live in the home as their primary residence.

What are the income limits?

Salute Our Soldiers Military Loan Program limits household income to 150% of the area median income, which varies by county and household size.

• Income limits vary by county; generally up to 150% AMI for veterans. Check floridahousing.org for current limits.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Salute Our Soldiers Military Loan Program can be used for Single Family, Condo, Townhouse, and 2-4 Unit.

Is there eligibility for specific groups?

Salute Our Soldiers Military Loan Program names veterans, active-duty service members, and reservists and National Guard members among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Salute Our Soldiers Military Loan Program serves buyers purchasing anywhere in Florida.

How do you apply?

Applications for Salute Our Soldiers Military Loan Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.