What is The $28,500 Miami-Dade Advocacy Trust Homebuyer Grant? | 2024

The Miami-Dade Economic Advocacy Trust (MDEAT) offers a Homeownership Assistance Program (HAP) designed to help low-to-moderate-income families achieve homeownership.

Through this program, eligible homebuyers can receive up to $28,500 in assistance for down payments or closing costs.

If you don’t qualify for the Miami-Dade Advocacy Trust Grant, don't worry. There are 25 first-time homebuyer grants and programs in the state of Florida that might fit your needs.

Check your eligibility for the Miami-Dade Advocacy Trust Grant

What is The Miami-Dade Economic Advocacy Trust Homebuyer Grant? | An Overview

The Miami-Dade Economic Advocacy Trust (MDEAT) created the Homeownership Assistance Program (HAP) to help residents of Miami-Dade County with purchasing a primary residence.

This program provides financial assistance to cover the costs of a down payment and/or closing costs, helping low-to-moderate-income homebuyers who need extra support to secure a mortgage.

The assistance comes in the form of a 0% interest, forgivable loan, meaning the borrower doesn’t have to repay it if they stay in the home for at least 20 years.

Check your eligibility for the Miami-Dade Advocacy Trust Grant

Program Benefits

This program provides financial help to make buying a home easier for Miami-Dade residents.

Up to $28,500 in Down Payment Assistance

The grant offers up to $28,500 for homebuyers whose income is at or below 80% of the area median income (AMI).

This money can be used for down payments and closing costs, reducing the amount of money you need upfront. For example, if you are buying a home for $200,000, this grant could cover your entire down payment.

Forgivable Loan with No Monthly Payments

The grant is a loan with 0% interest, and you don't need to make any monthly payments. If you live in the home for 20 years, the loan is forgiven.

This helps homeowners keep their monthly costs down and focus on other expenses, such as maintaining the home.

Homebuyer Education for Extra Support

Homebuyers who want to maximize their assistance may need to complete a homebuyer education course.

This course can help you better understand the homebuying process and how to manage a mortgage. For example, the course covers topics like improving your credit score and budgeting for homeownership.

Check your eligibility for the Miami-Dade Advocacy Trust Grant

Requirements for the Miami-Dade Advocacy Trust Grant

The best way to see if you qualify is to use our fast and easy Miami-Dade Advocacy Trust Eligibility Calculator to see if you qualify and how much assistance you may be eligible for:

The Home Must Be in Miami-Dade County

To qualify, the home must be in Miami-Dade County and be your main place of residence. This means the home cannot be a vacation or rental property.

Household Income Must Meet Program Limits

Your household income must be within the program’s income limits to qualify.

For example, if you have a household of four people with an income of $90,000, you could qualify for $14,500 in assistance since this is between 80% and 140% of the AMI.

Read our income and purchase price limits section below to see if you qualify.

Required Buyer Contribution

Buyers must contribute some of their own money toward the home purchase.

If your income is 100% or less of the AMI, you must put in 1% of the home's purchase price. If your income is between 100.01% and 140% of the AMI, you must put in 3%.

For example, if you are buying a $200,000 home and your income is 110% of the AMI, you would need to contribute $6,000 of your own money.

Work with an Approved Lender and Complete Education

You must get your mortgage through an approved lender and may need to complete a homebuyer education course. This course gives you important information about managing your mortgage and budgeting for homeownership.

MakeFloridaYourHome can guide you through this process.

Check your eligibility for the Miami-Dade Advocacy Trust Grant

Grant Income Limits and Purchase Price Limits

The income limits are based on the number of people in your household and the household's gross annual income. Here are the maximum income limits for different household sizes:

• 1 person: $39,750 (very low) to $111,300 (moderate)
• 2 people: $45,400 (very low) to $127,120 (moderate)
• 3 people: $51,050 (very low) to $142,940 (moderate)
• 4 people: $56,750 (very low) to $158,900 (moderate)
• 5 people: $61,300 (very low) to $171,640 (moderate)

For eligible homes, there is no strict purchase price limit imposed by MDEAT-HAP, but the home must meet the loan qualifications of your lender​.

Check your eligibility for the Miami-Dade Advocacy Trust Grant

Other First-Time Homebuyer Programs in Florida

If you don’t qualify for the Miami-Dade Advocacy Trust Grant, don't worry. There are 25 first-time homebuyer grants and programs in the state of Florida that might fit your needs. Below are a few featured programs that could be of interest.

Florida Hometown Heroes Program

• Up to $35,000 in assistance for down payments and closing costs.
• Lower first mortgage interest rate for eligible borrowers.
• Must be a first-time homebuyer working in or serving the community where you plan to buy.

FHA Loan Program

• Down payment as low as 3.5%.
• More accessible for buyers with lower credit scores than conventional loans.
• Must meet FHA credit score and property standards.

Hallandale Beach Community Grant

• Up to $100,000 for down payment and closing costs.
• No-interest loan, forgivable after 10 years if the home remains your primary residence.
• Eligible properties must be in a designated area and pass a home inspection.

Own a Home Opportunity Grant Program

• Up to 5% of the loan amount for down payments or closing costs.
• Available across several Florida counties.
• Must meet income, purchase price, and credit score requirements.