The Homestead Community Redevelopment Agency (HCRA) First Time Homebuyer Program is now open. Eligible first-time buyers can receive down payment and/or closing cost assistance of up to $10,000 and current residents of the Community Redevelopment Area (CRA) may receive up to $15,000.
“We’re hoping residents will take advantage of this program to help achieve the dream of homeownership,” said HCRA Director Kametra Driver. “A driving force behind revitalizing a community is homeownership because it generates wealth-building opportunities that provide a pathway out of poverty, increase education attainment and job security, and improve health and well-being.”
Buyer Eligibility Requirements
- First-time home buyers who have not owned a home in the past three years
- Income at or below 120% Average Median Income (AMI)
- Provide 1% of property sales price
- Must be pre-approved by a mortgage lender
Property Eligibility Requirements
- New or existing single-family home or townhouse
- Must be located within the CRA boundaries
- Must be applicant’s primary residence
- Must be owner-occupied for 10-year period after closing
Interested buyers should contact the HCRA at email@example.com or 305-224-4480.