Qualifying homebuyers can receive an interest-free deferred loan of up to $35,000 for their down payment — and Miami-Dade's Homebuyer Loan Program offers up to $100,000 in low-interest financing for eligible buyers
Verify Your Homebuyer Assistance Eligibility
Miami-Dade County through Public Housing and Community Development (PHCD) implements a wide range of housing programs designed to enhance housing opportunities for low- and moderate income individuals and families who are legal residents of Miami-Dade County.
This generous offer helps families become first time homeowners and increases housing affordability throughout Miami-Dade County.
Miami-Dade Homebuyer Assistance Eligibility Calculator - Use our simple calculator to determine your eligibility for Miami-Dade County's Homebuyer Assistance Program and see if you qualify for up to $35,000 in interest-free aid.
The Down Payment Assistance program provides zero percent (0%) deferred loans of up to $35,000 — with no monthly payment — to first-time homebuyers purchasing a property in Miami-Dade County if they qualify based on their income category.
In addition, Miami-Dade County's Homebuyer Loan Program (HLP) offers second mortgages of up to $100,000 at a 1% interest rate for homes in designated vulnerability areas, or up to $80,000 at a 2% interest rate elsewhere in the county, as a 30-year fixed-rate loan.
Individuals earning less than $95,620; couples making less than $109,200; three person households earning less than $122,920; and households of four making less than $136,500 may be eligible for homebuyer down payment assistance. For both programs, household income may not exceed 140% of the Miami-Dade Area Median Income, adjusted for family size — income limits are updated annually, so confirm the current figures for your household size when you apply.
Up to 30 years deferred loan with no interest, unpaid principal balance due at maturity.
No monthly payment required. Unpaid principal balance due upon sale, transfer of title, refinance or death during the term of the down payment loan.
If property is sold, shared equity period percentage of profit from resale to be paid to the County - 100% if sold within 1-3 years, 50% is sold between 4-6 years, 0% after 6 years.
Are you curious to know if you are eligible for the Miami-Dade Homebuyer Down Payment Assistance Program?
An individual or spouse who has had no ownership in a principal residence during the three year period ending on the date of purchase of the property.
The program also requires potential homebuyers to receive homebuyer counseling from a HUD certified agency and to complete approved homebuyer education training.
Applicant’s income level may not exceed 140 percent of the Miami-Dade County area mean income adjusted for family size, down payment and/or closing cost assistance will be available to families with an annual income between 0 to 140 percent of AMI subject to underwriting.
Combined Loan to Value (CLTV) not to exceed 105 percent of the purchase price including all mortgages and down payment assistance.
Borrower must have 1% of the purchase price from their own funds for the down payment. Amount of down payment assistance will be based on underwriting by the first mortgage lender.
Must be a Miami-Dade County resident at time of application and loan closing.
Application for Homebuyer Assistance.
Proof of income - pay stubs (last 60 days), social security award letter, pension statement, etc.
Verification of applicant’s funds available for minimum down payment contribution.
Income Tax returns for the past two (2) years.
Bank statements for the last six (6) months.
Rent verification (canceled rental payment checks or letter from landlord).
Sales contract.
Certificate of Completion - Homebuyer Counseling Workshop.
Copy of Social Security card for all adult (18 years and older) household members.
Copy of State issued ID cards or Birth Certificates for all members of the household.
Note - All documents must be sent together as one package. Failure to submit a complete file will result in delays or rejection of the file.
Check Eligibility
Pick up an Application for the First-Time Homebuyer Program
Gather all Documents Necessary
Attend a Homebuyer Counseling Workshop
Contact a Participating Lender to Obtain a Loan Commitment
Search for a Home based on your Pre-approved Loan Amount
Secure Mortgage Commitment
Submit Documents to Your Lender
We are dedicated to finding great rates and loan options for our customers while offering some of the fastest turn times in the industry. Our goal is to act as a trusted advisor, providing highly personalized service and helping you through every step of the loan process — from application to closing and beyond. It’s all designed to exceed expectations, provide satisfaction and earn trust.
