City of Miami Beach First Time Homebuyer Program

Special Alert

Maximum Purchase Price


Contact Info: 1700 Convention Center Drive, 1st Floor, Miami Beach, FL 33139 305-673-7260


Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Yes, for 15 years

Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA

Homeowners Education Class:


Is Forgivable?

If the homeowner continues to reside in his/her home for 15 years, the full amount is forgiven.


Miami Beach Property must be located in the city of Miami Beach, FL.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2023 120% AMI guidelines Income cannot exceed 120% AMI for SHIP funding. Income cannot exceed 80% AMI for HOME funding. Note: Our program model will reflect the highest income level eligible

Maximum Assistance

$150,000 Program provides from $40,000 to $150,000 in down payment assistance for income-eligible residents depending on funding availability. SHIP Funds: The SHIP Program will award funds (contingent upon availability) based on income limits as follows: $50,000 for Moderate-Income (up to 120% AMI); $100,000 for Low-and Very Low-Income (50% AMI); $150,000 for Extremely Low-Income (30% AMI). HOME Funds: The HOME program will award a maximum of $40,000 in down payment assistance for households earning up to 80% AMI.

Education Requirements Info:

Buyer must complete a First-time Homebuyers Training course within six (6) months prior to application to the City.

Eligible Property Types:

Single Family Detached Condo Townhome/PUD Manufactured Home

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $86,760$99,120$111,480$123,840$133,800$143,760$153,600$163,560 *Income limits as of 06/05/2023

Qualifying Ratios:

Determined by first mortgage product or lender.