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Florida HAMI Loans
Florida Housing Finance Corporation

Program Overview

Florida HAMI Loans is a program that provides loans to assist with down payments and closing costs

The application fee is $ 25 (maximum).

Who is eligible for this program?

Borrowers in Miami-Dade or Broward Counties must be first-time homebuyers, or homebuyers who have not owned a home in three years. Borrowers must qualify for a Florida Assist loan. Borrowers must have an income greater than the limit for Florida Assist. The maximum household income for eligible borrowers is $78720 in Miami-Dade or $85920 in Broward County for a family of one or two, and $918400 in Miami-Dade or $100240 in Broward County for a family of three or more. Funds may be used to pay a down payment, closing costs, or prepaids.

Is this program for first time buyers only? Yes

Property Eligibility Requirements

The sales price cannot exceed $ In Broward County $391,153, or $478,076 for a home in a federally designated target area. In Miami-Dade, the maximum price is $391,153, or $478,076 for a home in a federally designated target area..
Allowable property types: Single-family or multi-family (up to four units) home; condominium, townhome, or manufactured home meeting FHA requirements.

Benefit Details

Ten year loan to be repaid by the borrower. The interest rate is five percent simple interest. The maximum loan amount is $5,000.

Benefit: Low-interest, non-assumable loans for closing costs and down payments.
Loan Term:10 years
Homebuyer Counseling /
Education Required:
Owner Occupancy Required:Yes
Other Program Comments:Application is made through participating lenders.

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