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.

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.

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.

Salute Our Soldiers Military Loan Program is open to homebuyers who will live in the home as their primary residence. The program lists a minimum credit score of 640. A homebuyer education course is required. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Must be active duty military, veteran, National Guard member, or reservist.

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.

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

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.

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

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