Miami is one of the least affordable metros relative to local incomes, which makes down payment help especially valuable — and Miami-Dade County offers a deferred loan of up to $35,000 to first-time buyers across the county.
This guide focuses on what first-time buyers in Miami specifically can tap in 2026 — the local programs run by the city and county, the statewide help you can layer on top, and what it realistically takes to buy here.
Miami’s own first-time buyer programs
The main local help in the Miami area is county-wide, with a targeted city program too:
- Miami-Dade County Homebuyer Down Payment Assistance — from Miami-Dade Public Housing and Community Development, a 0%-interest deferred second of up to $35,000 for first-time buyers county-wide; the balance is deferred up to 30 years, you contribute at least 1% of your own funds, and the combined loan-to-value can reach 105%
- City of Miami District 5 Expanded First-Time Homebuyer Program — additional assistance targeted to first-time buyers in the City of Miami (amounts vary — verify the current structure)
These local programs are the piece most buyers miss, because they are run by the city or county rather than a lender — and they can often be combined with the statewide programs below.
Statewide programs you can also use in Miami
On top of Miami’s local help, every Florida buyer can access the state’s housing finance programs — below-market loans, down payment assistance, and a possible tax credit. We cover them in full in our guide to Florida first-time home buyer programs, and the wider local picture in our Florida first-time home buyer guide. In many cases you can stack a city program with a state program to cover most or all of your cash to close — a lender who works with both can structure it.
What it takes to buy in Miami
The Miami metro median home price is around $580,000 to $650,000, and local incomes have not kept pace — making Miami one of the toughest affordability equations among major metros. A $35,000 deferred loan from Miami-Dade, with no interest and no payment until far down the road, can be the difference-maker on a first purchase here.
Before you shop, pin down your budget. Our home affordability guide walks through how income, debt, and rates set your price range, and our first-time home buyer checklist keeps the rest of the process on track.
Loan options for Miami buyers
Most Miami first-time buyers use one of a few loan types, each of which can pair with the assistance above:
- FHA loans — 3.5% down with flexible credit, popular with first-time buyers
- Conventional loans — as little as 3% down, with reduced mortgage insurance through state HFA versions
- VA and USDA loans — zero down for eligible veterans and in qualifying areas
- Down payment assistance — city and state programs that layer on top (see our down payment assistance guide)
How to buy your first home in Miami
- Check your budget and credit first — see our guide to credit score requirements.
- Complete a homebuyer education course — nearly every Miami and Florida program requires one, and it is usually free.
- Find a lender who works with both Miami and Florida programs, and ask them to run the city and state options together.
- Get pre-approved, then line up your assistance before you make an offer.
One note: local and state program funding and terms change, and some rounds close when the money runs out. Always confirm current amounts and availability with the program administrator before counting on a figure.
Miami first-time buyer FAQ
What down payment help is available in Miami?
The primary program is Miami-Dade County’s Homebuyer Down Payment Assistance, a 0%-interest deferred second of up to $35,000 for first-time buyers, deferred up to 30 years. The City of Miami also runs a District 5 program with additional help. Both require homebuyer counseling, and Florida’s statewide programs (including Hometown Heroes) can also apply.
Can I combine Miami city programs with Florida state programs?
Often yes. City or county assistance is usually designed to layer on top of a first mortgage, and many buyers stack it with a Florida state program to cover most of their down payment and closing costs. A lender who participates in both can confirm what combines. See our Florida programs guide for the statewide options.
Do I have to be a first-time buyer to qualify in Miami?
Yes — Miami-Dade’s program requires first-time buyer status, generally no ownership of a principal residence in the prior three years (with limited exceptions). You must contribute at least 1% of your own funds, complete counseling from a HUD-certified agency, and meet income limits by household size (roughly under $95,620 for one person up to about $136,500 for a family of four). Confirm current limits with Miami-Dade PHCD.
How does Miami-Dade’s down payment assistance work?
Miami-Dade County provides up to $35,000 as a 0%-interest deferred second mortgage for first-time buyers. There are no monthly payments — the balance is deferred up to 30 years and repaid when you sell, refinance, or reach maturity. You must contribute at least 1% of your own money, the combined loan-to-value can go up to 105%, and income limits and HUD-approved counseling apply. Confirm current terms with Miami-Dade Public Housing and Community Development.