Florida Hometown Heroes Refinance Calculator

Are you a homeowner in Florida with a Hometown Heroes loan looking to refinance?

Our Florida Hometown Heroes Refinance Calculator helps you determine if you can refinance your home into a lower rate without any out-of-pocket costs.

Simply enter the required details, and we'll calculate whether you can pay off the grant and cover closing costs using your home equity.

With homes in Florida appreciating at over 8% annually, you might have the equity to refinance without spending a penny upfront.

Let our calculator do the math so you can make an informed decision quickly and easily.

Find out if you can refinance a Hometown Heroes loan with NO out-of-pocket costs.

How This Calculator Works

The Florida Hometown Heroes Refinance Calculator uses key inputs such as your home's original purchase price, loan amount, current loan balance, and the time since you purchased the home to estimate whether you can refinance without having to pay out of pocket.


Original Purchase Price helps us calculate how much your home has appreciated.

Original Loan Amount allows us to compute the grant amount (5% of the loan).

Current Loan Balance and Closing Costs are key factors in determining how much you'll need to refinance.

Home Appreciation Rate and Time Since Purchase help us calculate your current home value.

Sweat Equity includes any upgrades or improvements you've made to the property, adding to your equity.


By factoring in these details, our calculator tells you if your home’s equity is enough to pay off the grant and cover closing costs, so you can refinance at a lower rate without any upfront expenses.

What Happens If You Can’t Refinance Without Out-of-Pocket Costs?

If the calculator determines that your home’s equity isn't enough to cover both the grant and closing costs, it will let you know how much you'll need to pay out of pocket to refinance.

While this might sound daunting, knowing the exact amount upfront allows you to plan accordingly and explore options like:


Increasing your home’s value with minor renovations or upgrades.

Waiting for more home appreciation if you're close to the equity needed.

Exploring other mortgage programs that might better fit your financial situation.


Our goal is to help you make the most informed decision possible.

Why Refinance Your Hometown Heroes Loan?

Refinancing your Hometown Heroes loan could result in significant savings over the lifetime of your mortgage, especially if interest rates have dropped since you initially secured your loan.

Here are some key benefits:


Lower Monthly Payments: A reduced interest rate could lower your monthly payments, freeing up cash for other expenses.

Shorter Loan Terms: Refinancing might allow you to shorten your loan term, helping you pay off your mortgage faster and save on interest.

Access to Home Equity: Depending on your equity, refinancing could give you access to funds for home improvements, debt consolidation, or other financial goals.


Refinancing is an excellent financial tool, especially if you can do it without any out-of-pocket costs. Use our calculator today to explore your options!

Take the First Step to Refinancing Today

Find out in just a few minutes whether refinancing is possible without any upfront costs.

Use the calculator now and get instant results on whether you qualify to refinance your Hometown Heroes loan into a lower interest rate without spending a dime out of pocket.