Learn how to start the process of buying a home and applying for down payment assistance.
Did you know that you can receive up to $28,500 in down payment assistance from MDEAT and up to $120,000 from other programs across Miami-Dade County and local municipalities? These funds can help reduce your mortgage balance and monthly payments.
Since 1995, the Homebuyer Assistance Program (HAP) has helped more than 7,900 families purchase homes, providing over $45 million in down payment assistance.
HAP partners with mortgage professionals, financial institutions, housing counselors, and community organizations to create opportunities for prospective homebuyers. The HAP funds can be combined with other Miami-Dade County, state, and local programs designated for affordable housing.
How does HAP work?
HAP utilizes Documentary Stamps Surtax dollars from the County to provide down payment or closing cost assistance via a zero percent interest, non-amortized loan. The loan may be forgiven without a refinance or any change in title or ownership.
Can I work with any lender or closing agent?
Borrowers can choose any licensed lender in Florida, though lenders familiar with Down Payment Assistance Programs (DAP) are recommended. To receive HAP funds, the closing agent must be a Miami-Dade County Finance Department-approved vendor.
Does my realtor have to be HAP-approved?
No, your realtor does not need to be HAP-approved. However, we recommend choosing a realtor experienced with down payment assistance programs.
What’s the first step to getting started?
To apply for HAP funds, the first step is to attend a Homebuyer Education Course by a HUD-approved Housing Counseling Agency. The course will prepare you for the home-buying process and financial responsibility of homeownership. It’s also helpful to know your credit score and be pre-qualified by a licensed mortgage lender.
Do I have to be low income to use HAP funds?
HAP is available for moderate to middle-income households, with eligibility based on an annual household income that does not exceed 140% of the area median income (AMI) for Miami-Dade County. Income limits vary by family size.
What is the benefit of using HAP funds?
HAP funds can reduce your down payment or closing costs, making it easier for you to qualify for a mortgage.
Can I use other down payment assistance programs in addition to HAP?
Yes! HAP funds may be combined with other assistance programs at the county, state, or federal level, as well as certain approved programs. However, combining programs may extend approval timelines.
I’ve owned a home before. Can I still participate?
Yes! You can still use HAP funds if you are buying a primary residence in Miami-Dade County, have first mortgage lender approval, and meet the income requirements.
Can I use HAP funds to buy any property?
HAP funds can be used to purchase new or existing single-family homes, townhouses, or condos in Miami-Dade County, as long as the property will be your primary residence. Investment properties and multi-family units are not eligible. Foreclosed REOs and short sales are considered on a case-by-case basis.
What’s the maximum purchase price with HAP funds?
There is no maximum purchase price limit for MDEAT-HAP, but purchases are subject to loan qualifications determined by the lender. Some lenders or other DAP programs may have their own purchase price or mortgage limitations.
Does HAP provide rental or foreclosure assistance?
No, HAP does not offer rental or foreclosure assistance. However, other County resources are available to assist with rental or foreclosure needs.