Homebuyer Programs in Miami Beach, FL (2026)
Miami Beach is a world-famous barrier island city in Miami-Dade County with a population of approximately 83,600 and a median home price around $575,000. Despite its high-cost housing market, buyers here can access some of the most generous down payment assistance programs in South Florida. The City of Miami Beach First-Time Homebuyer Program offers between $40,000 and $150,000 in forgivable loans depending on household income. Buyers can also tap into the Miami-Dade County Homebuyer Down Payment Assistance Program (up to $35,000), the MDEAT Homeownership Assistance Program (up to $28,500), the HFA Miami-Dade Mortgage Program (up to $15,000), and state programs like the Florida Hometown Heroes Program (up to $35,000). By stacking city, county, and state programs, eligible Miami Beach homebuyers could potentially access over $200,000 in combined assistance.
Top Homebuyer Programs in Miami Beach
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| City of Miami Beach First-Time Homebuyer Program | Forgivable Loan | $40,000 to $150,000 depending on household income | Yes | View → |
| HFA Miami-Dade Mortgage Program | Deferred Loan | Up to $15,000 | Yes | View → |
| MDEAT Homeownership Assistance Program (HAP) | Forgivable Loan | Up to $28,500 (at or below 80% AMI) or up to $14,500 (above 80% AMI) | No | View → |
| Miami-Dade County Homebuyer Down Payment Assistance Program | Deferred Loan | Up to $35,000 | Yes | View → |
| Miami-Dade County Homebuyer Loan Program (HLP) | Zero-Interest Loan | Up to $100,000 at 1% interest or $80,000 at 2% interest | No | View → |
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
| Habitat for Humanity of Greater Miami | Zero-Interest Loan | Affordable home purchase with 0% interest mortgage | No | View → |
| Neighborhood Housing Services of South Florida Homebuyer Program | Deferred Loan | Down payment and closing cost assistance available | Yes | View → |
| Florida Assist (FL Assist) Second Mortgage Program | Deferred Loan | Up to $10,000 | Yes | View → |
| Florida HFA Preferred and Advantage PLUS Program | Forgivable Loan | 3%, 4%, or 5% of the first mortgage loan amount | Yes | View → |
| Florida Hometown Heroes Housing Program | Deferred Loan | Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000 | Yes | View → |
- Type:
- Forgivable Loan
- Amount:
- $40,000 to $150,000 depending on household income
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $15,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $28,500 (at or below 80% AMI) or up to $14,500 (above 80% AMI)
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $35,000
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- Up to $100,000 at 1% interest or $80,000 at 2% interest
- First-time only:
- No
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home purchase with 0% interest mortgage
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Down payment and closing cost assistance available
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to $10,000
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- 3%, 4%, or 5% of the first mortgage loan amount
- First-time only:
- Yes
- Type:
- Deferred Loan
- Amount:
- Up to 5% of first mortgage loan amount, minimum $10,000, maximum $35,000
- First-time only:
- Yes
How to Apply
- Step 1:
Check your eligibility. The City of Miami Beach program serves very-low, low, and moderate-income households as defined by the Local Housing Assistance Plan. The Miami-Dade County program serves individuals earning less than $95,620 (up to $136,500 for a family of four).
- Step 2:
Complete homebuyer education. All programs require an 8-hour HUD-approved homebuyer education course. The Miami Beach Community Development Corporation (MBCDC) offers free classes in Spanish and English. Contact them at (305) 538-4006. Neighborhood Housing Services of South Florida at (305) 751-5511 is also an approved provider.
- Step 3:
Meet with a housing counselor. Schedule a free appointment with Neighborhood Housing Services of South Florida or another HUD-approved counseling agency to review which programs you qualify for and develop a homeownership plan.
- Step 4:
Get pre-approved for a first mortgage. Work with a lender approved by the programs you're applying to. For the HFA Miami-Dade Mortgage Program, you must use an approved participating lender from the Housing Finance Authority of Miami-Dade County.
- Step 5:
Find a home within Miami Beach. For the city program, the property must be located within Miami Beach city limits. You must contribute a minimum of 2% of the purchase price from your own funds.
- Step 6:
Submit your application. Contact the City of Miami Beach Housing and Community Development Division at (305) 673-7260 to apply for the city program. For county programs, apply through the Miami-Dade County Department of Public Housing and Community Development.
- Step 7:
Close on your new home. After approval, coordinate your closing date. The city's assistance is secured by a lien and restrictive covenant, forgiven after 15 years of owner-occupancy.