Housing Finance Authority of Miami-Dade County

Thanks to a special new loan partnership between the Housing Finance Authority of Miami-Dade County and local home mortgage lenders, eligible very low to moderate-income home buyers in Miami-Dade County now have a chance to own a home of their own at below-market mortgage rates. Home buyers can take advantage of our low-interest rate mortgages and financial assistance to help cover down payment and closing costs. To participate in the program you must work with a First Mortgage Home Buyer Bond Program participating lender.

The Housing Finance Authority of Miami-Dade issues the bonds, creates the first mortgage program, develops the assistance products, sets the rate, term and points allowable in the program. There is zero origination and zero discount points charged in the program.

The program offers buyers who need assistance with down-payment and closing costs may receive the a 40-year fixed rate loan at 6.65% which includes a grant equal to 4% of the full loan amount. The grant is never repaid.

Denihan and Associates