Neighborhood Housing Services of South Florida DPA

Neighborhood Housing Services of South Florida DPA is a deferred second loan for homebuyers in Florida. NHS of South Florida provides deferred/forgivable loan DPA and HUD-approved housing counseling for eligible homebuyers in Miami-Dade and Broward counties. Funding comes from Nonprofit.

Neighborhood Housing Services of South Florida DPA 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.

Neighborhood Housing Services of South Florida DPA 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.

Neighborhood Housing Services of South Florida DPA 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/Broward counties. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Neighborhood Housing Services of South Florida DPA can be used for Single Family, Condo, and Townhouse.

Neighborhood Housing Services of South Florida DPA serves homebuyers purchasing anywhere in Florida.

Applications for Neighborhood Housing Services of South Florida DPA 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.