Miami First Time Homebuyer Program

The City of Miami’s First Time Homebuyer program helps eligible applicants purchase their first home by providing low-interest assistance loans.  

Available Assistance 
The Miami First Time Homebuyer Program provides zero-interest deferred loans to first-time homebuyers purchasing a property in the City of Miami if they qualify based on their income category. 

Eligibility Requirements 
To be considered eligible for the First Time Homebuyer program, applicants must be first-time homebuyers (those who have not owned a home in the previous three years) and have a household income that falls under 80% of the area median income. Additionally, applicants are required to contribute a minimum of $500 of their personal funds toward the down payment/closing costs.    

Property Guidelines 
Any property purchased with program funds must be used as the borrower’s primary residence, be located within Miami city limits, and meet Housing Quality Standards as per HUD Eligible property types include single-family residences, townhomes, or condominiums. The program’s maximum purchase price limit is $261,000 for existing homes and $276,000 for new constructions. 



Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but states and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.       

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information.