Local assistance · Miami-Dade
SHIP, HOME and MDEAT programs in Miami-Dade
The state programs get the headlines. The local ones are often larger, less known, and administered by people two miles from the house you are buying. In Miami-Dade, that mostly means MDEAT.
What local down payment assistance is there in Miami-Dade?
Miami-Dade buyers can access SHIP funds — state money administered by the county and its cities for down payment and closing costs — HOME funds from HUD administered locally, and the Miami-Dade Economic Advocacy Trust's programs: the Homeownership Assistance Program, or HAP, and H.O.M.E., Housing Opportunities Made for Everyone. Amounts, income limits and forgiveness terms are set by each administering body and can be combined with a first mortgage from a participating lender.
SHIP — State Housing Initiatives Partnership
State documentary-stamp revenue passed to every Florida county and to larger cities, which each run their own down payment and closing cost assistance from it. Terms are local: some jurisdictions offer deferred 0 percent seconds, some forgive over a set period, and amounts differ between Miami-Dade County, the City of Miami, Hialeah, Homestead and the rest. Income limits are tied to area median income.
HOME — HUD's HOME Investment Partnerships
Federal money administered by the county and participating cities, used among other things for homebuyer assistance. Lower income limits than SHIP, generally, and longer affordability periods during which the home must remain your primary residence.
MDEAT HAP — Homeownership Assistance Program
The Miami-Dade Economic Advocacy Trust's principal down payment program for first-time buyers purchasing in Miami-Dade County. Assistance is a deferred second lien with no monthly payment, subject to household income within the program's area-median-income limit, a purchase-price cap, homebuyer education, and a first mortgage from a participating lender. The amount is set by MDEAT and has been adjusted over time.
MDEAT H.O.M.E. — Housing Opportunities Made for Everyone
MDEAT's second homeownership program, structured to reach buyers and areas the HAP does not, with its own eligibility and assistance terms. Because the two are administered by the same trust, we confirm which one a given buyer and property fit before the application goes in.
Next step
Find out if this fits your file
Five minutes, no credit pull to start, and a straight answer from a licensed loan officer.
Straight answers
Frequently asked
What is the MDEAT Homeownership Assistance Program?
MDEAT HAP is the Miami-Dade Economic Advocacy Trust's down payment and closing cost program for first-time buyers purchasing a primary residence in Miami-Dade County. Assistance is a deferred second mortgage with no monthly payment, available to households within the program's income limit who complete homebuyer education and obtain a first mortgage from a participating lender.
Can SHIP or MDEAT assistance be combined with Hometown Heroes?
Sometimes. Layering local assistance on a Florida Housing first mortgage depends on both programs' rules for combined loan-to-value and on lender approval of the subordinate liens. It is done, and it can make a purchase possible with very little cash, but it has to be structured on the specific file rather than assumed.
How do I find out which local program I qualify for?
Tell us the city or unincorporated area you are buying in and your household income. SHIP terms differ between Miami-Dade County and each city, HOME has its own limits, and MDEAT's two programs have separate eligibility. Which applies, and whether funds are currently available, is checked per file.
Often compared with
Related programs
Down payment assistance
Florida Hometown Heroes
Florida Hometown Heroes provides 5% of your first mortgage loan amount toward the down payment and closing costs — a m…
Read moreDown payment assistance
FHA 100% DPA
Yes. FHA with 100% down payment assistance pairs a standard FHA first mortgage at 96.5% loan-to-value with assistance…
Read moreDown payment assistance
Florida Assist
Florida Assist is a second mortgage from Florida Housing Finance Corporation that provides down payment and closing co…
Read moreTell us the obstacle. We'll tell you if this removes it.
A licensed Florida loan officer, on the phone, with a straight answer either way.