Miami-Dade County


Housing Finance Authority of Miami-Dade County
Homeownership Program

ELIGIBLE AREA – Miami-Dade county

Buyers and their spouses must be first-time buyers and must be able to permanently reside in the US.
Buyers must live in the property they purchase as their principal residence.
All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
Buyers must occupy the property purchased within 60 days of closing.
Buyers must qualify using the HFA of Miami-Dade County program requirements.
Buyers must credit qualify for the HFA of Miami-Dade County first mortgage.

* See loan officer for more information

FIRST MORTGAGE – Qualified buyers will receive a 30-year fixed rate first mortgage from a participating lender. Eligible loan products include FHA, VA, RD, Fannie Mae HFA Preferred or Freddie Mac HFA Advantage.

DOWN PAYMENT ASSISTANCE – Available as a 30-year deferred, 0% Second Mortgage of up to $15,000. Must be used for down payment and/or closing cost assistance. Must be repaid, this is never forgiven.

Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.

  • 1 person household $75,500
  • ​2 or more person household $86,825

MAXIMUM SALES PRICE LIMIT – This price must include everything paid by the buyer or on the buyer’s behalf. $317,646

ELIGIBLE PROPERTY – New or existing, one to four units, detached or attached, condos, townhomes.

CREDIT SCORE – FICO mid score must be 640 or higher for Fannie Mae and Freddie Mac conventional loans and 660 or higher for FHA, VA and RD loans.

DTI – The maximum debt-to-income (DTI) ratio is 45%.

HOMEBUYER EDUCATION – Required for all borrowers and anyone listed on the deed.
Homebuyer Education Certification is acceptable for a period of one year from issuance.
Approved education courses include:

  1. Face to face from a HUD approved education provider
  2. Online education ONLY from:
  3. Online education ONLY from:
  4. Lender provided home buyer education is unacceptable as is over the phone education. If an education course is not listed on the HUD face-to-face web site, it is not acceptable. The only online education providers are listed above.

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