Miami-Dade Program Highlights

HFA of Miami-Dade County

HFA of Miami-Dade County | At-A-Glance

AVAILABLE PROGRAMS HFA of Miami-Dade County Single Family Program
ELLIGIBLE AREA All of Miami-Dade County.
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Price Limits
TIMELINE REQUIREMENTS 60 days from Reservation to Loan Purchase. Underwriter Certification within 15 days of reservation.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

MCC

Miami-Dade County MCC | At-A-Glance

AVAILABLE PROGRAMS HFA of Miami-Dade County MCC Program
ELLIGIBLE AREA Miami-Dade County, FL
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Price Limits
TIMELINE REQUIREMENTS Underwriter Certified within 15 days of loan reservation. Delivered to eHousingPlus within 10 days of closing.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

HFA of Miami-Dade County

HFA of Miami-Dade County | At-A-Glance

AVAILABLE PROGRAMS HFA of Miami-Dade County Single Family Program
ELLIGIBLE AREA All of Miami-Dade County.
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Price Limits
TIMELINE REQUIREMENTS 60 days from Reservation to Loan Purchase. Underwriter Certification within 15 days of reservation.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

MCC

Miami-Dade County MCC | At-A-Glance

AVAILABLE PROGRAMS HFA of Miami-Dade County MCC Program
ELLIGIBLE AREA Miami-Dade County, FL
ELIGIBLE BORROWER(S) First-Time Buyer Requirement (Borrower and Spouse)
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS Purchase Price Limits
TIMELINE REQUIREMENTS Underwriter Certified within 15 days of loan reservation. Delivered to eHousingPlus within 10 days of closing.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES Guidelines
PARTICIPATING LENDERS Participating Lenders

Today’s Rates & Offerings

HFA of Miami-Dade County | Rates & Offerings

Government (w/second)

HFA of Miami-Dade County Single Family Program


FHA, VA, USDA-RD


  • First-time buyer requirement (borrower and spouse including NPS) no homeownership in the past 3 years
  • Must be principal residence
  • Maximum Income Limits
  • Maximum Purchase Price Limits
  • 60 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a 30-year deferred second mortgage (never forgiven)
  • Assistance amount is $15,000 with non-amortizing, deferred second mortgage
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA 660
  • Minimum FICO for VA, USDA-RD and Freddie Mac 640
  • Eligible area: Miami-Dade County
Offering FICO DPA Lock Rate
FHA 660 up to 15,000 7.625%
VA, USDA 640 up to 15,000 7.625%
Conventional (w/second)

HFA of Miami-Dade County Single Family Program


Freddie Mac HFA Advantage


  • First-time buyer requirement (borrower and spouse including NPS) no homeownership in the past 3 years
  • Must be principal residence
  • Maximum Income Limits may not exceed 80% AMI (determined by Freddie Mac) in order to receive reduced mortgage insurance
  • Maximum Purchase Price Limits
  • 60 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a 30-year deferred second mortgage (never forgiven)
  • Assistance amount is $15,000 with non-amortizing, deferred second mortgage
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA 660
  • Minimum FICO for VA, USDA-RD and Freddie Mac 640
  • Eligible area: Miami-Dade County
Offering FICO DPA Lock Rate
Fannie Mae and Freddie Mac <= 80% AMI 640 up to 15,000 7.750%
Freddie Mac (HFA Advantage) OVER 80% AMI 640 up to 15,000 7.750%