North Miami CRA Launches First-Time Homebuyer Program Offering Up to $10,000 in Down Payment Assistance
The North Miami Community Redevelopment Agency (NMCRA) has announced the launch of its First-Time Homebuyer Program championed by Vice Chair Kassandra Timothe, an initiative designed to help residents achieve the dream of homeownership by providing up to $10,000 in down payment and closing cost assistance for eligible buyers purchasing homes within the NMCRA redevelopment area.
The program is part of the agency’s continued commitment to strengthening neighborhoods, expanding housing opportunities, and improving quality of life for residents across North Miami.
Through the program, qualified applicants whose household income falls between 50 percent and 120 percent of the Miami-Dade County median income may receive financial assistance to
help cover the upfront costs associated with purchasing their first home. The funds can be used toward gap financing and closing costs for the purchase of a single-family home, townhouse, or
condominium located within the NMCRA boundaries. “Homeownership is one of the most powerful ways families can build stability and generational wealth,” said NMCRA Board Vice-Chair Kassandra Timothe. “This program is designed to remove some of the financial barriers that prevent many residents from purchasing their first home and to ensure that more families can invest in their future right here in North Miami.” To qualify for the program, applicants must be first-time homebuyers — defined as individuals who have never owned a home or have not owned a home within the last three years. Applicants must also provide mortgage pre-approval from a qualified lender, complete a HUD-approved homebuyer education course, and contribute at least $2,000 toward the purchase of the home.
Participants must occupy the property as their primary residence for a minimum of five years, helping ensure long-term community stability and neighborhood investment. The program does not require an application fee, and applications will be reviewed within approximately 30 days after submission to determine eligibility. Preference will be given to applicants who live or work within the City of North Miami.
The NMCRA was established to support economic development, eliminate blight, and foster sustainable community growth through strategic investment and partnerships that benefit residents and businesses throughout the redevelopment district.
Residents interested in applying are encouraged to contact the NMCRA office to schedule an appointment and begin the application process.
