Shared Equity Agreements For First-time Buyers In Miami-Dade
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
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FAQ
Down Payment Assistance: Florida Programs Provides down payment loans of up to $7,500 at 0% interest for eligible borrowers, and up to $10,000 for those getting an FHA, VA or USDA mortgage.
Are you looking to buy a home? Florida Housing offers a Homebuyer Program that offers 30-year fixed rate first mortgage loans to first time homebuyers through participating lenders and lending institutions throughout the State of Florida.
First-time homebuyers can get a below-market mortgage rate. This program works with lenders to create a special package of first, second and, if necessary, third mortgages to finance a home you can afford. The type of home you buy can be a single-family detached home, townhouse, inium, twin-homes or studio.
The program is only available to residents purchasing a home in the state of Florida. All borrower(s) must be employed full-time by a Florida-based employer or corporation and work full-time. Other than military veterans, all buyers must work 35 hours or more per week to qualify.
Miami-Dade Economic Advocacy Trust created its Homeownership Assistance Program (HAP) to increase the number of home purchases for low-to-moderate-income residents in Miami-Dade County. Since 1995, the program has funded more than 7,900 families.
You may also be considered a first-time home buyer if you haven't owned a home in the last 3 years. So, under this definition, previous homeowners can be classified as a first-time home buyer again after enough time has passed.
Most of the loans offered for low- and moderate-income first-time homebuyers have down payments of 3%, so this likely will be required if you're buying a home.
In general, lenders don't want you to spend more than 43 percent of your income on a mortgage and any other debt payments, like student loans. With some first-time buyer programs, there are also income limits. These typically vary based on location and are often capped at 80 percent of the area's median income (AMI).
