Which program fits which buyer
Miami-Dade County's program is built around income and residency: you live in the county, your household income is under the county limit, and you complete HUD-certified counseling and approved homebuyer education. Hometown Heroes is built around your job: you work full-time for a Florida-based employer in an eligible occupation and buy a primary home in the community where you work and serve. Some buyers fit both descriptions and some fit neither. Whether the programs can be combined depends on each program's rules and on your lender, so ask before you plan around it.
Miami-Dade County Homebuyer Down Payment Assistance
The county offers a loan of up to $35,000 toward the down payment on a first home. These are the main terms as the county publishes them:
- It is an interest-free loan with no monthly payment, deferred for up to 30 years.
- The unpaid balance is due when you sell, transfer the title, refinance, or if the borrower dies during the term.
- Income must be under $95,620 for one person, $109,200 for two, $122,920 for three, or $136,500 for four.
- You must live in Miami-Dade County when you apply and when you close.
- You need 1% of the purchase price from your own funds.
- You must receive counseling from a HUD-certified agency and complete approved homebuyer education.
- If you sell early, the county receives a share of your resale profit: 100% if you sell within 1 to 3 years, 50% between 4 and 6 years, and 0% after 6 years.
Florida Hometown Heroes
Florida Housing Finance Corporation's Hometown Heroes program helps eligible workers with down payment and closing costs. You apply through a participating lender, not through a real estate agent. As Florida Housing describes it:
- The help is up to 5% of the first mortgage amount, with a minimum of $10,000 and a maximum of $35,000.
- It is a 0%, non-amortizing, 30-year deferred second mortgage. It becomes due if you sell, refinance, transfer the deed, or stop living in the home as your primary residence.
- You must work full-time for a Florida-based employer and buy a primary residence in the community where you work and serve.
- Eligible occupations include health care workers, school staff, first responders, public safety and court employees, child care workers, active duty, reserve and National Guard service members, and veterans employed full-time.
- The first mortgage carries a competitive market interest rate, with no origination points or discount points.
- Income and loan limits are published each year by county, so check the current Florida Housing limits document for Miami-Dade.
The assistance is a loan, not a gift
Neither program is a grant. Both are deferred second loans, so the balance comes out of your sale proceeds when you sell or refinance, and the county program can also take a share of your profit if you sell within the first six years. For some buyers that trade makes sense, especially renters who could not buy any other way. The point is to know the number before you sign. Ask your lender to show you, in writing, what you would owe if you sold in year three or year ten.
The homebuyer class
Both paths involve education, and the details differ. The county program requires counseling from a HUD-certified agency plus approved homebuyer education. HFA Miami offers a HUD-approved online course, administered by eHome America, for $100 in English and Spanish, and notes that buyers in programs outside its own may be required to take additional courses. Before you pay for any class, ask your lender or the program office which course your program accepts.
What to do first
A practical order that avoids the most common false starts:
- Check which program fits: your household income and size, your job, and where you live and work.
- Talk to a participating lender before you tour homes, so you know your approved price and which programs you can use.
- Complete the counseling or class your program requires.
- Confirm program funds are available before you write an offer. Funding for programs like these can be limited.
- Then search for a home in South Miami-Dade that fits your approved price and the program's limits.
Where Susana fits in
Susana is a real estate agent, not a lender, so your lender and the program office decide eligibility. What she does is help you see the full monthly cost of a home in Homestead, Princeton, Cutler Bay or West Kendall, including taxes, insurance and HOA or CDD fees, connect you with local lenders, and guide your search so you shop inside your approved range, in English or Spanish.
Sources
Frequently Asked Questions
Is down payment assistance a grant?
No. The county program and Hometown Heroes are both deferred loans. You repay them, without interest, when you sell, refinance or transfer the property, and the county program can also share in your profit if you sell within six years.
Can I use Hometown Heroes if my job is not on the list?
No. Hometown Heroes is limited to the eligible occupations Florida Housing lists and requires full-time work for a Florida-based employer. The county program lists income, residency, own-funds and education requirements instead, so it may still be open to you.
How much of my own money do I need?
The county program requires 1% of the purchase price from your own funds. Hometown Heroes and your lender may set other requirements, and closing costs vary by loan, so ask your lender for a written estimate.
Where can I check the current income limits?
On the county's Homebuyer Down Payment Assistance page and in Florida Housing's yearly Hometown Heroes income and loan limits document. Limits change, which is why this guide links to the official pages instead of asking you to rely on it.