Miami-Dade Economic Advocacy Trust created its Homeownership Assistance Program (HAP) to expand homeownership for low-to-moderate-income residents in Miami-Dade County. Since 1995, the program has invested more than $57 million, helping over 11,000 families achieve homeownership.
Today, HAP offers a zero-interest deferred loan that assists eligible homebuyers with down payment and closing costs for their primary residence, making it easier to qualify for a mortgage.
A very low-to-moderate income homebuyer seeking a primary residence in Miami-Dade County.
A voluntary Homebuyer Education Course may be offered to borrowers choosing to maximize subsidy funding with their first lender or other affordable housing programs. (layering).
Pay at least one percent of the sales price or three percent of the sales price from your own funds based on income criteria
Any new or existing home (must be immediately habitable): single-family detached home, townhome or condo. Foreclosure REOs and short sales are considered on a case-by-case basis.
Learn how to begin the homebuying process and apply for down payment assistance.
Did you know that you may qualify for up to $28,000 in down payment assistance from MDEAT and up to $120,000 from other programs across Miami-Dade County and local municipalities? These funds can help lower your mortgage amount and reduce monthly payments. Since 1995, the program has invested more than $57 million, helping over 11,000 families achieve homeownership.
HAP partners with mortgage professionals, financial institutions, housing counselors, and community organizations to create opportunities for prospective homebuyers. The HAP funds can be combined with other Miami-Dade County, state and local programs designated for affordable housing.
The Miami-Dade Economic Advocacy Trust (MDEAT), which is an agency and instrumentality of Miami- Dade County, solicits applications through a Request for Application (RFA) process to fund eligible activities with Documentary Stamp Surtax (Surtax) funds. Through the Surtax Construction Development Loan Program and Land Acquisition Loan Programs, MDEAT receives proposals that address critical unmet affordable housing needs.
This RFA targets single family and multi-unit homeownership projects that may include acquisition, rehabilitation, and new construction with or without acquisition of County-owned property. Both for-profit and non-profit developers are encouraged to participate. MDEAT encourages development teams competing for Documentary Stamp Surtax funding to be diversified and aspire to be consistent with and reflect the diversity of the Miami-Dade County community pursuant to policies outlined in Resolution No. R-1080-14.
MDEAT’s Rehabilitation Assistance Program (RAP) offers forgivable loans up to $50,000 to help low-to-moderate income homeowners make necessary repairs. The loan is interest-free and requires no payments for the life of the loan. The loan becomes fully forgivable after 15 years, provided the property remains owner-occupied and the borrower does not refinance or transfer of ownership during that period.
Low-to-moderate income borrowers may have any licensed mortgage lender in the State of Florida submit a HAP application on their behalf.
For closing agents (title companies and attorneys), approval by Miami-Dade County Clerk of Court and Comptroller as a registered supplier (vendor) is required before eligibility is designated to a closing agent for use of any borrower receiving a HAP loan and to facilitate downpayment and/or closing costs assistance.
Closing agents should maintain at least one or more persons on staff that are knowledgeable of and/or experienced with closing HAP and other DPA funded loans.
Closing agents must have a sunbiz.org listing as an entity with an active and updated record including valid tax ID number.
Closing agents must stay current and approved with Miami-Dade County Clerk of Court and Comptroller with regards to updates or changes in address, banking affiliation, name changes and/ or other affiliated changes in their sunbiz record.
Closing agents must complete and submit an original “wet” signed Miami-Dade County approved ACH direct deposit form as a permanent means to receive HAP funds. The only other currently available option is to receive HAP funds via physical check disbursement by Miami-Dade County Clerk of Court and Comptroller (i.e., wire transfer are not currently available)
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