Purchase Assistance Program

Purchase Assistance Program

The City of Miami Gardens through the State Housing Initiative Program (SHIP) has a Purchase Assistance Program to include assistance with down payment and closing costs. These are typically available for persons who meet particular income requirements.   

•    Eligible applicants can receive up to $20,000.00 in assistance.

•    Assistance will be provided on a first-qualified, first-ready, first served basis, funds are limited.

•     Homebuyer must complete an education course by a HUD certified Housing Counselor.

•    A first-time buyer is considered someone hasn’t owned a home in the last three years

•    Applications are provided once fully executed sales contract and Lender approval letter have been received. 

Income Eligibility

Household Size1 Person2 People3 People 4 People5 People6 People
120%$75,960.00$86,880.00$97,680.00$108,480.00$117,240.00$125,880.00


 Qualifications

•    Participants with income less than or equal to 120% of median income for family size. 

•    Property must be located within the City of Miami Gardens city limits. 

•    City of Miami Gardens, single family homes, including town homes, duplex, and condominiums 

•    Property sales price does not exceed $ 331,881.00 

Terms 

•    Forgivable at the End of Thirty (30) years 

•    Maximum assistance is up to $20,000.00

•    Funds will be awarded as a deferred payment loan secured by a recorded subordinate mortgage and note.

•    Interest Rate: 0 % rate