Homeownership

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• Home Loan Program

  The Homebuyer Loan Program (HLP) pursuant to Ordinance No. 15-127 is a homebuyer assistance program, in conjunction with participating first lenders, assist very low-to moderate-income individuals and families with the purchase of a home as their primary residence, by providing low-interest second and or third mortgage loans using the Documentary Surtax funds whose income levels may not exceed 140 percent of the Miami-Dade Country Area Median Income adjusted for family size. Program participation is limited to one time only per family. A 30-year fixed-interest mortgage is available to persons who qualify. The First Mortgage Lender (licensed in the State of Florida) provides the first mortgage with the HLP. There will be two or three loans on the property: a first mortgage from the first mortgage lender and a second and/or third mortgage from Miami-Dade County. The First Mortgage Lender(s) are approved through HCD. The HLP does not govern the use of federal funds.
  

  • Loan Term: 30-year mortgage
  • Maximum Loan Amount: $100,000 for vulnerability areas at 1 percent interest rate, $80,000 for non-vulnerability areas at 2 percent interest rate 
  • No Maximum Purchase Price: Subject to income qualification and underwriting for up to 140 percent AMI
  • Borrower shall use the property as the primary residence. 
  • Property may not be rented or leased. If the borrower sells, transfers, rents or vacates the property, the loan will become due. 
  • No Maximum Resale Price

• Down Payment Assistance Program

  • Loan Term: Up to 30 years deferred loan at 0 percent interest rate
  • Maximum Loan Amount: $35,000
  • No monthly payment
  • No Maximum Purchase Price: Subject to income qualification and underwriting for up to 140 percent AMI
  • Unpaid Principal Balance due upon sale, transfer or maturity date
  • The program is available to eligible applicants as a stand-alone program and participants in Miami-Dade County’s Homebuyer Program

• Condominium Special Assessment Program - Temporarily Paused

  Miami-Dade County is now providing funding assistance to help condominium owners pay for special assessments that can arise from building recertifications. Qualifying owners making less than 140 percent of the area median income (AMI) can get up to $50,000 in assistance to pay for these assessments. Individuals earning less than $111,300; couples making less than $127,120; three-person households earning less than $142,940; and households of four making less than $158,900 may be eligible.
  
  The Condominium Special Assessment Program is designed to assist condominium owners in addressing and paying for special assessments arising from rehabilitation and repairs required by applicable building integrity recertification requirements.
  
  

  • Loan Term: 40-year mortgage.
  • Maximum Loan Amount: $50,000 at 0 percent interest rate.
  • Monthly payment will be $50 for low-income families, with the remaining balance due at maturity.
  • Monthly payment for moderate-income families will be calculated at 0 percent over 40 years.
  • The program will assist Condominium Properties throughout the County.
  • Homeowners must reside in the unit and occupy it as their primary residence.
  • The rehabilitation funds will be paid directly to the Condominium Association.
  • A description of the work to be done and/or the scope of Work will be required to determine the loan assistance.

• Housing Rehabilitation

  The Housing Rehabilitation Program provides for expansion and upgrades to owner-occupied single-family homes. These improvements are primarily geared to addressing health and safety issues, and code violations, including roof repairs, plumbing, and electrical, as well as associated repairs and exterior painting.

• Assistance for Condominium Unit Owners/Special Assessments

  This Program will assist owner-occupied condominium homeowners with limited finances and address special assessment requirements associated with rehabilitation/repairs resulting from applicable building integrity recertification requirements. Surtax funds will be in the form of a loan and the annual household median income may not exceed the maximum limit of 140 percent as indicated in the Miami-Dade County income limit chart. Loan terms will be structured to mitigate the financial burden on families while ensuring compliance with the Surtax program.

• Housing Development

  The housing development component provides funding to developers, as available, to defray the costs of new construction, rehabilitation and/or other costs associated with the development of single-family and multi-family housing. This component is intended to increase housing opportunities for persons by encouraging the creation and rehabilitation of affordable housing units.

• Disaster Relief Assistance

  The Disaster Relief Assistance provides emergency assistance to homeowners whose communities have been impacted by a major man-made or natural disaster. Individuals in areas that have been declared/designated disaster areas by the federal, state, and/or local government can be eligible to receive funding for rehabilitation or reconstruction of their homes. To be eligible for Disaster Relief Initiative (DRI) funding a person must be the homeowner and occupy the home, which is defined as the primary owned homestead and occupied dwelling of a single family. Rehabilitation or reconstruction costs will be limited to the real estate structure only. Funds can be provided to the homeowner for a first and/or subordinate mortgage, based on the terms and conditions outlined in the Miami-Dade County Guidelines. This assistance is provided as gap assistance for any damage that insurance, Federal Emergency Management Agency (FEMA), or other sources do not cover.

• Resources

  • HCD will provide all attachments AMI Chart - Income and Mortgage Limits 2025 
  • MDC HCD Approved First Mortgage Lenders 
  • Homebuyer Education and Counseling Service Providers
  • PHCD Documents Loan Checklist
  • MDC PHCD Affordable Housing Homebuyer Loan Program and Single-Family Rehabilitation Program Guidelines
  • Homebuyer Down Payment Assistance Program Guidelines
  • Land Map - This is the Vulnerability Area Map link.