Homestead CRA First-Time Homebuyer Down Payment Assistance

Up to $10,000 toward the down payment and closing costs on a single-family home or townhouse in the Homestead CRA area, plus $5,000 more if you have lived in the CRA area for at least a year. It is a 0% loan that is forgiven after 10 years.

Application Deadline

Rolling – first come, first qualified, first served while funds last

Provided by
Homestead Community Redevelopment Agency
Coverage
Homestead
Cost to apply
No application fee listed – you contribute 1% of the sales price
Last verified
Oct 2026
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Eligibility Criteria

First-time buyers (no home owned in the last 3 years) with household income up to 120% of area median income and no more than $25,000 in liquid assets. The home must be a single-family home or townhouse in the CRA area (no condos, mobile homes or land) that you live in as your primary residence with homestead exemption. You put in 1% of the sales price.

How to Get Started

1

Get pre-approved with a lender in the Miami-Dade Economic Advocacy Trust Homeownership Assistance Program, complete an 8-hour HUD-approved homebuyer class, then apply to the Homestead CRA (212 NW 1st Avenue, Homestead, FL 33030

2

305-224-4480).

Information Needed

  • Photo ID
  • proof of immigration status or Social Security cards
  • 2 years of tax returns and W-2s
  • last 4 pay stubs
  • 6 months of bank statements
  • lender pre-approval letter
  • homebuyer class certificate
  • photos of the home
  • a licensed home inspection report before purchase.

Helpful Tips

  • The full amount is due if you sell, rent out or cash-out refinance within 10 years
  • Homes needing more than $10,000 in major repairs do not qualify