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Since 1995, the Miami Dade Economic Advocacy Trust has assisted homebuyers who are qualified for any of a variety of fixed-rate loan programs by providing up to $7,500 (or 4% of the purchase price, whichever is less) towards the down-payment and/or closing costs on the purchase of a Miami-Dade County home. Funds are available on as “as-needed basis” in the form of a zero interest zero payment loan, and if the buyer lives in the property for at least 10 years, the entire loan is forgiven.
The program is available to low-to-moderate income buyers. A family of four can earn up to $98,420 while a single person can earn up to $69,020. Buyers with low to median income according to the guidelines will need to contribute 1% of the purchase price, while moderate to moderate/middle income earners will contribute 3%. These buyer contributions may come from other assistance programs.
The buyer must not own any real property within the past three years, and must be a current resident of Miami-Dade County. There is an exception to the “three year rule” for the “displaced spouse” in a divorce situation.
Eligible properties include single-family homes, town homes and condominiums up to a $423,750 purchase price. The property must be immediately livable, so 203(k) or FannieMae Rehab qualified properties are not allowed.
Each buyer is required to attend a 6–8 hour Home Education Seminar that will include information about this and other assistance programs. In addition, a buyer must use a MMAP-HAP approved lender, title agent and real estate agent. These professionals have been trained by the Administrator of the program to ensure that we are guiding you through the process correctly.
Be sure to call me (your APPROVED MMAP-HAP real estate agent) for more detailed information about the Miami-Dade County Homeowner Assistance Program. Funds are available right now to help you fulfill your American Dream of Homeownership.
The program is available to low-to-moderate income buyers. A family of four can earn up to $98,420 while a single person can earn up to $69,020. Buyers with low to median income according to the guidelines will need to contribute 1% of the purchase price, while moderate to moderate/middle income earners will contribute 3%. These buyer contributions may come from other assistance programs.
The buyer must not own any real property within the past three years, and must be a current resident of Miami-Dade County. There is an exception to the “three year rule” for the “displaced spouse” in a divorce situation.
Eligible properties include single-family homes, town homes and condominiums up to a $423,750 purchase price. The property must be immediately livable, so 203(k) or FannieMae Rehab qualified properties are not allowed.
Each buyer is required to attend a 6–8 hour Home Education Seminar that will include information about this and other assistance programs. In addition, a buyer must use a MMAP-HAP approved lender, title agent and real estate agent. These professionals have been trained by the Administrator of the program to ensure that we are guiding you through the process correctly.
Be sure to call me (your APPROVED MMAP-HAP real estate agent) for more detailed information about the Miami-Dade County Homeowner Assistance Program. Funds are available right now to help you fulfill your American Dream of Homeownership.
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