What can a first-time buyer get inside City of Miami limits?
The City of Miami Department of Housing & Community Development offers the First-Time Homebuyer Program (SHIP/HOME), a 0% deferred loan of up to $130,002, with the amount set by the number of bedrooms. The City posted its SHIP notice of funding on August 13, 2026, with a FY 2026-27 allocation of no less than $2,211,782, and opened applications on September 14, 2026. Money goes out first-come, first-ready, first-served until it runs out, so buyers who already have counseling done and a lender lined up move faster.
The rules are strict about location: the property folio number must begin with 01, which is how the County flags parcels inside City of Miami limits. Buyers must be at or below 80% AMI, must not have owned a home in the past 3 years, must finish a HUD-approved counseling workshop, and must put in at least $500 of their own money. The first mortgage has to be a 30-year fixed loan from a participating lender, and the home must pass an NSPIRE inspection. The City shares in appreciation starting in year 3, phasing out by year 20. City pages list both a $494,000 and a $451,000 price cap in different steps, so confirm the current figure before you shop.
Miami buyers are not limited to the City loan. Miami-Dade County's Homebuyer Down Payment Assistance Program (up to $35,000) and the HFA of Miami-Dade County Single Family Program (up to $15,000) are both open, and Florida Hometown Heroes covers teachers, nurses and first responders such as Miami Police and City of Miami Fire Rescue employees. See the Miami-Dade County guide for how the county layers work.
Run by Miami
City of Miami
- Amount
- Up to $130,002 (based on bedroom count)
- Kind of help
- Deferred loan, due at sale or refinance
- Who it's for
- Income-eligible first-time buyers purchasing inside City of Miami limits
- Income cap
- 80% AMI (City links to FHFC income chart)
- Price cap
- $494,000 (existing or new construction; SHIP NOFA FY26-27)
- First-timers only
- Yes
- Also note
- No ownership in past 3 years; HUD-approved counseling workshop; at least $500 own funds; NSPIRE inspection; 30-yr fixed first mortgage from participating lender; property folio must begin with 01
SHIP NOFA posted 8/13/2026: FY 2026-27 SHIP allocation 'no less than $2,211,782'; applications opened Sept 14, 2026, first-come first-ready first-served until funds are exhausted. Loan is 0% deferred with City shared appreciation from year 3, phasing out by year 20. City page lists both $494,000 and $451,000 price caps in different steps.
Checked against the official page, November 2026. How we fact-check
Read our full write-upCheck whether I fitCounty money Miami buyers can use
Miami-Dade County
- Amount
- Up to $35,000
- Kind of help
- Deferred loan, due at sale or refinance
- Who it's for
- Income-eligible first-time buyers who are Miami-Dade residents
- Income cap
- Under $95,620 (1), $109,200 (2), $122,920 (3), $136,500 (4 persons)
- First-timers only
- Yes
- Also note
- HUD-approved counseling + homebuyer education; 1% of price from own funds; fixed-rate first mortgage; CLTV max 105%; County resident at application and closing
0% interest, up to 30-year deferred, due on sale/transfer/refi. Shared-equity on resale: 100% of profit to County if sold in years 1-3, 50% in years 4-6, 0% after 6. Page does not state a price limit or funding status.
Checked against the official page, November 2026. How we fact-check
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- Amount
- Up to $15,000
- Kind of help
- Deferred loan, due at sale or refinance
- Who it's for
- First-time buyers using the HFA's bond/TBA first mortgage
- Income cap
- See HFA income & loan limits
- First-timers only
- Yes
- Also note
- Participating lender; homebuyer education; min FICO 660 FHA / 640 VA & conventional
Second-mortgage DPA tied to the HFA first mortgage; lock rates on 11/6/2026 page: FHA/VA 7.625%, conventional 8.000%. Exact second-mortgage terms not stated on the highlights page.
Checked against the official page, November 2026. How we fact-check
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Buyers in Miami also have 3 statewide programs to draw on, Florida Hometown Heroes Housing Program among them. Browse every Florida program or let the program search narrow it down.
Matching county guide: Miami-Dade County.
Homebuyer classes near Miami-Dade County
Nearly every down payment program makes you finish a homebuyer class before closing. These HUD-approved agencies around Miami-Dade County teach one or offer one-on-one counseling before you buy.
From HUD's list of housing counseling agencies. A given program may accept only certain classes.
Which class counts for you? Your loan officer knows which courses each Florida program accepts and can start your pre-approval in the same conversation.
Start with the 2-minute check
Miami, asked and answered
How much is the City of Miami first-time homebuyer loan?
Up to $130,002, set by bedroom count. It is a 0% deferred loan, and the City shares in appreciation from year 3, phasing out by year 20.
Is the City of Miami program open?
Yes. Applications opened September 14, 2026 under the FY 2026-27 SHIP notice and are funded first-come, first-ready, first-served until money runs out.
How do I know if a home is inside City of Miami limits?
Check the property folio number. The program requires a folio that begins with 01.
