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Miami-Dade Housing Finance Authority Mortgage Program

Miami-Dade Housing Finance Authority Mortgage Program is a deferred second loan for homebuyers in Miami-Dade County, Florida.

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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 660 credit score
  • A completed homebuyer education course
  • A home in Miami-Dade County

It doesn’t cover

  • Households above 115% of area median income
  • Homes outside Miami-Dade County

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

115% of Miami-Dade County’s area median income

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

$89,800
Area median income, 4-person household (HUD, 2026)
Income limits in Florida

Where it applies

Miami-Dade County’s homes

  • 38.8% single-family
  • 9.9% townhouse
  • 5.2% 2–4 units
  • 44.7% 5+ units
  • 1.4% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$463,000

Miami-Dade County median home value

49.6%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in Miami-Dade County

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    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.

Free course · 10 minMiami-Dade Housing Finance Authority Mortgage Program, explained

Questions about this program

What is Miami-Dade Housing Finance Authority Mortgage Program?

Miami-Dade Housing Finance Authority Mortgage Program is a deferred second loan for homebuyers in Miami-Dade County, Florida. HFA Miami-Dade offers a 0% deferred second mortgage paired with a below-market HFA first mortgage for eligible first-time homebuyers in Miami-Dade County. Funding comes from State.

How much assistance does it provide?

Miami-Dade Housing Finance Authority Mortgage Program offers up to $15,000 in assistance. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Miami-Dade Housing Finance Authority Mortgage Program 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.

Who qualifies?

Miami-Dade Housing Finance Authority Mortgage Program 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. The program lists a minimum credit score of 660. A homebuyer education course is required.

What are the income limits?

Miami-Dade Housing Finance Authority Mortgage Program limits household income to 115% of the area median income, which varies by county and household size. 2025 (all loan products, Miami-Dade County): 1-2 persons $142,485; 3+ persons $148,680. Max purchase price: FHA $654,350; VA/Conventional $806,500. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Miami-Dade Housing Finance Authority Mortgage Program can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Miami-Dade Housing Finance Authority Mortgage Program serves homebuyers purchasing in Miami-Dade County, Florida.

How do you apply?

Applications for Miami-Dade Housing Finance Authority Mortgage Program 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.

Also for Miami-Dade County homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 88 programs for Miami-Dade County

Program terms are set by the administering agency and can change; confirm on the official site before you apply.