City of Miami Beach First-Time Homebuyer Program

Administered by: City of Miami Beach Housing and Community Development · City · Forgivable Loan

Funding status: Active

How much assistance

$40,000 to $150,000 depending on household income (Forgivable Loan)

Forgiven after 15 years of owner-occupancy. If the homeowner sells, rents, refinances, or the property is no longer the primary residence before the 15-year affordability period, the full assistance amount must be repaid.

Eligibility

  • Income limits: Must be very-low, low, or moderate income as defined by the City's Local Housing Assistance Plan (LHAP)
  • First-time buyer required: Yes — Must not have previously owned a home.
  • Geographic restrictions: Must purchase within the City of Miami Beach.
  • Homebuyer education required: Yes

How to Apply for City of Miami Beach First-Time Homebuyer Program

Step 1: Contact the City of Miami Beach Housing and Community Development Division at (305) 673-7260. Complete an 8-hour HUD-approved homebuyer education course. The Miami Beach Community Development Corporation (MBCDC) offers free homebuyer education classes. Submit a complete application with required documents. The homebuyer must contribute a minimum of 2% of the purchase price from their own funds as a down payment.

Visit program website

Notes

Funded through the State Housing Initiatives Partnership Program (SHIP). Assistance amount depends on income tier as defined in the City's LHAP. Funds are secured by a lien and restrictive covenant on the property.

Cities Where This Program Is Available