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Miami-Dade First-Time Homebuyers Program
Miami-Dade Public Housing & Community Development
http://www.miamidade.gov/ced/home.asp

Contact


Miami-Dade Public Housing and Community Development
701 NW 1st Court 14th Floor
Miami Florida 33136
786 469-2100






Program Overview


Miami-Dade First-Time Homebuyers Program is a assists very low to moderate-income individuals and families with the purchase of a home as their primary residence, by processing a low-interest second mortgage Property must be located in an approved County-funded development.


Who is eligible for thisTest program?


Borrowers must have been employed in the same line of work for at least 24 months, must have a good, established credit history and be approved for credit by a participating lender, and must be either a U.S. Citizen, or have obtained legal permanent residency immigration status. Borrowers must be very low to moderate income

Maximum % of Sales Price: 97%
Is thisTest program for first time buyers only? Yes


Property Eligibility Requirements


The property must be in an area designated for residential housing.
Allowable property types: Single family detached homes, townhouses, condominiums, twin-homes and studios


Benefit Details




Benefit: Low-interest mortgage loans.
Loan Term:30 years
Homebuyer Counseling /
Education Required:
Yes
Owner Occupancy Required:Yes
Other Program Comments:Maximum payment, including house payment and payments on all outstanding debts, may not exceed 45% of the borrower's gross monthly income. Application is made through an approved lender.

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