The City of Miami Gardens is looking for First-Time Homebuyers

Have you heard of the Neighborhood Stabilization Program? The City of Miami Gardens received $8,806,456 of Neighborhood Stabilization Program funds from the U.S. Department of Housing and Urban Development (HUD). The intent of these funds is to return vacant, foreclosed or abandoned residential properties to viable owner occupied homes as quickly as possible. Through the rehabilitation and reuse of these properties, the City has been able to revitalize our neighborhoods and to provide affordable home ownership within Miami Gardens. Otherwise, these homes would remain abandoned and, in some cases, an eyesore in the community.

Since 2008, the City has purchased 77 vacant and foreclosed single-family properties, and rehabilitated 50 of those parcels thus far; 8 are currently under construction. In addition, the City has demolished 12 properties previously deemed unsafe and blighted; 2 have been redeveloped and sold to qualified first-time homebuyers with 3 currently under construction. Most importantly, the City has sold 42 homes and has 5 homes currently under contract to qualified first-time homebuyers. Each homebuyer may receive up to $55,000 in financial assistance from the City for their down payment and closing costs. The amount each buyer receives is based on their actual need according to their income and household size to ensure affordable homeownership. The City does not make a profit from the sale of these homes. The proceeds from the sales are re-invested back into the program.

In the coming months, the City will begin rehabilitation on 25 more properties. These homes will be made available for sale as the rehabilitation is completed. Here are some of the basic eligibility criteria to buy one of the City’s NSP homes:*

Household income cannot exceed 120% of the area median income. (See Table Below)
• Buyer must contribute approximately $2,000.
• Buyer must be able to qualify for a mortgage loan.
• Buyer must occupy the home as their primary residence.
• Buyer cannot have owned a home in the past three years.

If you think you meet the eligibility criteria described above and are interested in purchasing a home in Miami Gardens, please visit the City’s website: www.miamigardens-fl.gov and look for the

“NSP Properties for Sale” link under the Latest News Section or contact the Department of Community Development at (305) 622-8041.

*Additional eligibility criteria applicable.


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7 COMMENTS

  1. I’m instead in the first time home ower program in Miami Gardens not really sure how to get started and where to go to apply can you please assit, thnak you.

  2. Hi Roger,
    I am a loan officer, located in New York but i am also licensed to originate loans in Florida. I am involved with organizations in NY which offers the same options to first time home buyers. The benefit is that you don’t have to invest as much funds to purchase. Most loans require a minimum Down payment of 3.5% of the purchase price. so assume you find a house with a purchase price of $200,000. You will need $7,000 at least for down payment plus closing costs. this program will allow you to put $2,000 toward down payment and the other $5,000 will come from the grant. As noted above, a home buyer can receive up to $55,000 to apply toward their down payment and closing cost. Hope this helps.

  3. Hey Roger
    I see your point but believe they want to make sure that people can afford the home & to encourage buyers after the crash in the housing system.
    Not a bad idea if govt decides to help with down payment etc.

  4. How is this program going to be helpful if buyers must qualify for a mortgage loan? I would think that if a family qualifies for a traditional mortgage that they wouldn't need assistance.

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