Qualified homeowners in Miami-Dade County are now eligible to receive an interest-free loan of up to $35,000 to cover the down payment of their first home.
The program is for any individual making less than $95,620 a year, a couple making less than $109,200, a three person household making less than $122,920 and households of four or more people making less than $136,500.
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Requirements to be eligible include:
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- Any individual or spouse who hasn't had ownership in a principal residence during the three year period ending on the date of purchase of the property.
- A single parent who has owned with a former spouse while married.
- An individual who has owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
- An individual who has owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
All potential homebuyers are required to receive a counseling form from a Housing and Urban Development certified agency and to complete homebuyer education training.
For more information on requirements and what else you need to know, click on this link.
