How Much Down Payment Assistance Is Available in Miami in 2026?
Miami-Dade qualified buyers have access to up to $70,000 in stacked down payment assistance in 2026 — and in some cases more. The two primary programs are:
- Florida Hometown Heroes: Up to $35,000 — available to any Florida-employed first-time buyer with 640+ credit
- Miami-Dade PHCD Down Payment Assistance: Up to $35,000 — for buyers at or below 80% Area Median Income
- City of Miami First-Time Homebuyer Program: Up to $15,000 — for purchases within City of Miami limits
- Florida Assist Second Mortgage: Up to $10,000 — stackable with Hometown Heroes
Combined Maximum
Hometown Heroes ($35K) + Miami-Dade PHCD ($35K) + City of Miami ($15K) = up to $85,000 for City of Miami purchases. Most Miami-Dade buyers access $70,000 in combined assistance.
Program #1: Florida Hometown Heroes — The Baseline for Every Miami Buyer
| Detail | Information |
|---|---|
| Amount | Up to $35,000 (5% of first mortgage) |
| Structure | 0% interest deferred second mortgage |
| Repayment | Due on sale, refinance, or transfer only |
| Credit Score | 640+ minimum |
| Income Limit | ~$170,250 for family of 4 (150% AMI, Miami-Dade 2026) |
| Who Qualifies | First-time buyers employed by a Florida employer. Veterans exempt from FTB requirement. |
| New Construction | ✓ Eligible — including DR Horton Homestead communities |
| Stacks With | Miami-Dade PHCD, City of Miami, county programs |
Program #2: Miami-Dade PHCD Down Payment Assistance — Up to $35,000
| Detail | Information |
|---|---|
| Amount | Up to $35,000 |
| Structure | 0% interest deferred second mortgage |
| Income Limit | ~$79,200 for family of 4 (80% AMI, Miami-Dade 2026) |
| Property Location | Unincorporated Miami-Dade or participating cities |
| Application Timeline | 4–8 weeks — must be coordinated with purchase contract |
| Homebuyer Education | HUD-approved 8-hour course required |
| Stacks With | Hometown Heroes, City of Miami program |
Program #3: City of Miami First-Time Homebuyer Program
Up to $15,000 in deferred forgivable assistance for purchases within City of Miami incorporated limits. Income limit: 80% AMI. This program applies only within the City of Miami proper — not Homestead, Hialeah, Coral Gables, or other Miami-Dade municipalities.
Free · No Credit Check · 2 Minutes
Wondering What Programs You May Qualify For?
Answer a few simple questions and discover homebuyer programs, financing options, grants, and next steps — tailored to your South Florida situation.
Take The Homebuyer Qualification Quiz ›The Stack — Real Numbers at Three Purchase Prices
| Purchase Price | Down Payment (FHA 3.5%) | Total DPA Available | Buyer Cash at Closing | Monthly PITI | After Rental Income (duplex) |
|---|---|---|---|---|---|
| $350,000 | $12,250 | $70,000 | ~$2,000–$5,000 | ~$3,100 | ~$1,300 (duplex) |
| $415,000 | $14,525 | $70,000 | ~$4,200 | ~$3,624 | ~$1,674 (duplex) |
| $500,000 | $17,500 | $70,000 | ~$8,000–$12,000 | ~$4,350 | ~$2,100 (duplex) |
For the full DPA program directory across all four South Florida counties, see the South Florida homebuyer grants directory.
Miami-Dade Income Limits 2026
| Household Size | 80% AMI (PHCD) | 150% AMI (Hometown Heroes) |
|---|---|---|
| 1 person | ~$56,000 | ~$105,000 |
| 2 persons | ~$64,000 | ~$120,000 |
| 3 persons | ~$72,000 | ~$135,000 |
| 4 persons | ~$79,200 | ~$170,250 |
| 5 persons | ~$85,600 | ~$183,900 |
| 6 persons | ~$91,900 | ~$197,600 |
Free · 3 Minutes · No Obligation
Wondering What You Qualify For?
How to Apply — The Exact Miami DPA Process
- Complete HUD-approved homebuyer education course (8 hours) — can be done online; required for PHCD and Hometown Heroes. Roland provides referrals to approved courses.
- Get pre-approved with an HFA-approved lender — Hometown Heroes requires a Florida Housing Finance Corporation participating lender. Roland refers you to South Florida lenders who actively work these programs.
- Submit DPA applications — Roland coordinates PHCD and Hometown Heroes applications simultaneously, not sequentially.
- Execute purchase contract with DPA timeline built in — PHCD adds 4–8 weeks to the timeline. The contract closing date must account for this.
- Close — DPA funds arrive at the closing table as a second mortgage. No cash changes hands for the down payment from the buyer’s side.
The Most Common Mistake
Buyers who apply for DPA after they are under contract on a property face a timing crisis. PHCD takes 4–8 weeks. Roland submits DPA applications at the start of the search, not after the offer is accepted.
Miami-Dade Neighborhoods Where DPA Works Best
DPA programs have purchase price limits — properties must be priced at or below FHA loan limits ($776,550 for single-family in Miami-Dade). The best markets for DPA-assisted purchases:
- Homestead / South Dade corridor: $300,000–$500,000 price range, highest DPA-to-purchase-price ratio in Miami-Dade. DR Horton new construction eligible. See homes for sale Homestead FL.
- Hialeah: $350,000–$550,000, strong workforce rental demand for duplex house-hackers using DPA on an FHA duplex
- Cutler Bay / Palmetto Bay: $400,000–$600,000, suburban South Dade with good schools and stable appreciation
- North Miami Beach / Opa-locka adjacent: Emerging markets with accessible price points and full DPA eligibility
For the full Miami-Dade market overview, see the Miami-Dade real estate guide.
Frequently Asked Questions
Can I use down payment assistance with an FHA loan in Miami?
Yes — both Hometown Heroes and Miami-Dade PHCD are designed to layer on top of FHA first mortgages. FHA is the most common first mortgage paired with Miami-Dade DPA because of the 3.5% down requirement and flexible credit standards. See FHA loan requirements Florida 2026.
What is the income limit for Hometown Heroes in Miami-Dade?
~$170,250 for a family of four (150% AMI) in 2026. Single-person households: ~$128,000. These are among the most generous income limits of any DPA program in Florida.
Do I need to repay Miami-Dade down payment assistance?
Hometown Heroes and Miami-Dade PHCD are deferred second mortgages — no monthly payments, but repayment is triggered upon sale, refinance, or transfer. Some programs have partial forgiveness provisions after a compliance period. None are outright grants.
Can investors use Miami-Dade DPA programs?
No — all Miami-Dade DPA programs require owner-occupancy. The property must be your primary residence. However, if you use FHA financing to buy a duplex and live in one unit, you qualify for DPA while earning rental income from the second unit. See the Miami house hacking guide.
How long does the Miami-Dade PHCD process take?
The PHCD application process adds 4–8 weeks to the transaction timeline. Roland submits DPA applications simultaneously with the property search — not after the offer is accepted — to prevent closing delays.
Can I use DPA for new construction in Miami?
Yes — Hometown Heroes and most county programs are eligible for new construction including DR Horton communities in Homestead and Florida City. See DR Horton Homestead for new construction options with full DPA eligibility.
What credit score do I need for Miami DPA?
Hometown Heroes: 640 minimum. Miami-Dade PHCD: 580 minimum (most lenders require 620). City of Miami program: 620 minimum. See credit score requirements for FL mortgage.
Is there a first-time buyer requirement for Miami DPA?
Hometown Heroes and Miami-Dade PHCD require first-time homebuyer status — no ownership of a primary residence in the past 3 years. Veterans are exempt from this requirement for Hometown Heroes. Prior homeowners who sold or had a home 3+ years ago typically qualify.
