City of Miami Gardens Purchase Assistance (SHIP)

City of Miami Gardens Purchase Assistance (SHIP) is a deferred second loan for homebuyers in Miami Gardens, Florida. City of Miami Gardens SHIP-funded deferred loan program providing up to $20,000 for down payment and closing cost assistance for eligible first-time homebuyers within city limits. Funding comes from State.

City of Miami Gardens Purchase Assistance (SHIP) offers up to $20,000 in assistance. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

City of Miami Gardens Purchase Assistance (SHIP) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, Refinance, and Transfer of Title. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Miami Gardens Purchase Assistance (SHIP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required.

City of Miami Gardens Purchase Assistance (SHIP) limits household income to 80% of the area median income, which varies by county and household size. Income at or below 80% AMI for Miami-Dade County. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Miami Gardens Purchase Assistance (SHIP) can be used for Single Family, Condo, and Townhouse.

City of Miami Gardens Purchase Assistance (SHIP) serves homebuyers purchasing in Miami Gardens, Florida.

Applications for City of Miami Gardens Purchase Assistance (SHIP) go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.