Did you know #OurCounty offers support including low-interest financing to qualified first-time homebuyers? Turn your #homeownership dreams into reality. Learn more about the program by visiting https://t.co/0cFKFrYU18. #affordablehousing #americandream #homesweethome pic.twitter.com/0ACJNOpvK9— Miami-Dade County (@MiamiDadeCounty) August 27, 2019
If you are looking for assistance in obtaining financing as a first-time homebuyer and you qualify under CDBG, HOME, SHIP or Surtax income guidelines, you may apply for a mortgage loan subsidy through the County’s loan program.
Public Housing and Community Development will work with you and local mortgage lenders to provide a low-interest second and/or a third mortgage (of between 0-6 percent) using the appropriate source of funds to bring your out of pocket costs to an affordable level.
The program is available to local households earning from 30% up to 140% of area median income (AMI). In Miami-Dade County, this can be from $17,800 to $83,020 for a single person; and from $25,750 to $118,580 for a family of four. Residential properties include single-family detached homes, townhouses, twin-homes, and condominiums.
The Homebuyer Loan Program (HLP) was created in 2015 to assist qualified individuals and families in the purchase of a primary residence. The HLP is intended to encourage homeownership as a foundation for financial independence and prosperity for young professionals and college graduates as well as low- and moderate-income families in Miami Dade County.
For more information: Miami-Dade County Affordable Homeownership Program