AFFORDABLE HOUSING HOMEBUYER LOAN PROGRAM AND

Page 1 of 38 Revised 01/18/24

MIAMI-DADE COUNTY

PUBLIC HOUSING AND COMMUNITY DEVELOPMENT

AFFORDABLE HOUSING HOMEBUYER LOAN

PROGRAM AND SINGLE-FAMILY REHABILITATION

PROGRAM GUIDELINES

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TABLE OF CONTENTS

SECTION I

Introduction ................................................................................................................................................. 4

Homeownership Mortgage Assistance ..................................................................................................... 4

Homebuyer Loan Program………………………………………………………………………… .......... 4

Housing Rehabilitation ...................................................................................................................... 4

Assistance for Condominium Unit Owners/Special ….……………………………………………… .... 4

Housing Development ....................................................................................................................... 4

Disaster Relief Assistance… ............................................................................................................. 5

Homebuyer Education and Counseling ........................................................................................ 5

“Jumpstart” Assistance...................................................................................................................... 5

Homebuyer Down Payment Assistance Program Guidelines ................................................................ 6

Homebuyer Loan Program Guidelines ………………………………………………………………………...7

Homebuyers ................................................................................................................................................ 7

Initial Interview Process… ............................................................................................................. 7-8

Process for Closing .......................................................................................................................... 8

Eligibility Requirements……………………………………………………………………………………… ...... 9

Occupancy Requirement/Ownership ...……………………………………………………………… .... 9

Affordability ………………………………………………………………………………………………. . 9

Eligible Verification (Surtax, Home/CDBG and Ship) ………………………………………………. 9

Immigration Status ......................................................................................................................... 10

Income Section .......................................................................................................................................... 10

Income Qualification ....................................................................................................................... 10

Qualifying Using Section 8 Housing Choice Voucher ............................................................... 10-11

Income Recertification ................................................................................................................... 11

Income Range of Applicants to Be Served............................................................................................. 11

Income and Identity Verification .............................................................................................................. 11

Income Inclusions and Exclusions for Eligibility for Surtax/Ship .................................................... 12

Income Inclusions for Credit Purposes Surtax/Ship ...................................................................... 13

Homeownership Loan Ratios ......................................................................................................... 14

First Mortgage Lender Loan Processing for Mortgage Assistance…………………………………..14

Property Standards ........................................................................................................................ 14

Purchase Price ............................................................................................................................... 15

Credit Requirements ...................................................................................................................... 15

Non-Applying Spouse .................................................................................................................... 15

Down Payment/Closing Costs ................................................................................................................. 15

Gifts .................................................................................................................................................. 15-16

Asset Limitations ..................................................................................................................................... 16

First Mortgage Financing ......................................................................................................................... 16

Second Mortgage Financing .................................................................................................................... 16

Monthly Payments for PHCD Assistance .................................................................................................... 16

Inspection ....................................................................................................................................... 17

For HUD “HOME” Funded Programs Only ............................................................................................. 18

Loan Servicing ........................................................................................................................................... 18

Participating First Mortgage Lenders ......................................................................................................... 18

Loans…………………………………………………………………………………………………………………18

Income and Mortgage Limits (Attachment I) .......................................................................................... 19

Ethics Disclosure Statement for all PHCD Programs (Attachment II) ................................................. 20

PHCD Loan Documentation Checklist (Attachment III) ......................................................................... 21

Required Documentation at time of PHCD Interview ……………………………………………………... 22

Conflict of Interest (Attachment IV) ......................................................................................................... 23

Third-Party Verification of Employment (Attachment V) ...................................................................... 24

Acceptable Fees to Be Charged to Applicants (Attachment VI) ......................................................... 25

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SECTION II

Single Family Homeowner Rehabilitation Guidelines ........................................................................... 26

Loan Assistance Program Guidelines .................................................................................................... 26

Introduction .................................................................................................................................... 26

Scope ............................................................................................................................................. 26

Definitions ................................................................................................................................. 26-27

Loan Programs and Amounts .................................................................................................................. 27

Assistance for Condominium Unit Owners/Special Assessment per Use of SURTAX Dollars 27-28

Surtax and Ship Rehab Single-Family Funded Programs ............................................................. 28

Surtax Beautification Loan Program .............................................................................................. 28

Surtax, Paint and Shutter Loan Program ....................................................................................... 28

Eligibility Areas ............................................................................................................................... 28

Eligible Properties .................................................................................................................... 28-29

Applicants for Rehabilitation - All Programs ............................................................................ 29-30

Income Limit Chart ………………………………………………………………………………...…. .... 31

Income Inclusions and Exclusions for Eligibility Proposed for Surtax/Ship ...................................... 31

Income Inclusions for Credit Purposes ................................................................................................. 32

Funding Sources ....................................................................................................................................... 32

SURTAX Single-Family Rehabilitation Loan Program……………………………………………….. 32

SHIP Single-Family Rehabilitation Loan Program……………………………………………………..33

Rehabilitation Loan Terms for Elderly, Disabled, Developmental Disabilities, Disabling Conditions

and Special Needs………………………………………………………………………………………. 33

Surtax Beautification Loan Program …………………………………………………………………...33

Surtax Paint/Shutter Program…………………………………………………………………………...33

Loan Interest Rates…………………………………………………………………………………………….. 34

Surtax Single-Family Rehabilitation Loan Program………………………………………………… 34

SHIP Single-Family Rehabilitation Loan Program…………………………………………………….34

Surtax Beautification Paint/Shutter Loan Program…………………………………………………....34

Loan Processing and Approval ............................................................................................................…34

Supplements .............................................................................................................................................. 34

Waiting List ................................................................................................................................................ 35

Loan Servicing .......................................................................................................................................... 35

Loan Fees................................................................................................................................................... 35

Effective Date ............................................................................................................................................ 35

Required Documentation (Attachment I) ………………………………………………………………….36-37

Additional Documentation when Applicable (Attachment II) ............................................................... 38

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INTRODUCTION

Miami-Dade County through Public Housing and Community Development (PHCD) implements a

wide range of housing programs designed to enhance housing opportunities for low- and moderate-

income individuals and families. Pursuant to these Affordable Housing, Homeownership and

Rehabilitation Program Guidelines assistance may be provided to developers, community

development corporations, individuals and families through an array of programs encompassing

acquisition, construction, rehabilitation, reconstruction, and permanent financing (in the form of

mortgage assistance, including subordinate mortgages). Homeownership counseling is a

recommended component of all the homeownership programs. The following is a list of programs

offered:

HOMEOWNERSHIP MORTGAGE ASSISTANCE

The homeownership mortgage assistance component provides funds to very-low, low- and

moderate-income individuals and families to acquire newly constructed or existing housing units.

Homebuyer Loan Program

The Homebuyer Loan Program (HLP) pursuant to Ordinance No. 15-127 is a homebuyer assistance

program which provides mortgage loan assistance using Documentary Surtax funds to qualified low-

and moderate -income individuals and families for the purchase of primary residence. The First

Mortgage Lender (licensed in the State of Florida) provides mortgage assistance through their First

– Time Homebuyer/Homeownership Program with the HLP. The Lender(s) are approved through

PHCD. The HLP does not govern the use of federal funds.

Housing Rehabilitation

The Housing Rehabilitation Program provides for expansion and upgrades to owner-occupied

single-family homes. These improvements are primarily geared to addressing health and safety

issues, and code violations, inclusive of roof repairs, plumbing and electrical as well as associated

repairs and exterior painting. (See Single Family Rehabilitation Guidelines on page 27 for more

details).

Assistance for Condominium Unit Owners/Special Assessments

This Program will assist owner occupied condominium homeowners with limited finances, address

special assessment requirements associated with rehabilitation/repairs as a result of applicable

building integrity recertification requirements. Surtax funds will be in the form of a loan and the

annual household median income may not exceed the maximum limit of 140% as indicated in the

Miami-Dade County income limit chart. Loan terms will be structured so as to mitigate the financial

burden on families while recognizing the need to ensure compliance with the Surtax program.

Housing Development

The housing development component provides funding to developers, as available, to defray the

costs of new construction, rehabilitation and/or other costs associated with the development of

single-family and multi-family housing. This component is intended to increase housing

opportunities for persons by encouraging the creation and rehabilitation of affordable housing units.

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Disaster Relief Assistance

The Disaster Relief Assistance provides emergency disaster relief to homeowners whose locality

has been impacted by a major man-made or natural disaster. Individuals in areas which have been

declared/designated disaster areas by the federal, state and/or local government can be eligible to

receive funding for rehabilitation or reconstruction of their homes. To be eligible for Disaster Relief

Initiative (DRI) funding a person must be the homeowner and occupy the home, which is defined

as the primary owned homestead and occupied dwelling of a single family. Rehabilitation or

reconstruction costs will be limited to the real estate structure only. Funds can be provided for a

first and/or subordinate mortgage to the homeowner based on the terms and conditions outlined in

the Miami-Dade County Guidelines. This assistance is provided as gap assistance for any damage

that insurance, Federal Emergency Management Agency (FEMA), or other sources do not cover.

Homebuyer Education and Counseling

For the County Funded Homeownership Program, the homebuyer is recommended to attend the

homebuyer counseling agency class provided by a U.S. Department of Housing and Urban

Development (HUD) approved agency before meeting with the first mortgage lender. The list of

HUD approved homebuyer counseling agencies can be found in the following link provided:

https://hudgovanswers.force.com/housingcounseling/s/. The homebuyer(s) provides the

Homebuyer Counseling certificate from the class to the first mortgage lender and PHCD. This

certificate is valid for one year.

The homebuyer is encouraged to attend the Homebuyer Education and Counseling Class

(Homebuyer Counseling Agency) class. The homebuyer counseling agency component provides

education and counseling to individuals regarding purchasing and financing of affordable housing

units. The homebuyer counseling agencies are required to cover a variety of topics which include

fair housing practices, credit counseling, budget and money management, financial literacy proximity

of schools, employment and transportation, home maintenance, the mortgage approval and post-

closing process, selecting a neighborhood, locating a home, negotiating a purchase price, and finding

appropriate financing. Specifically, the Homebuyer Counseling Agency is required to cover the PHCD

Homebuyer Loan Program (first-time homeownership program). This element will provide the

homebuyer all the specific items of the process to purchase a home with the first lender and PHCD.

In accordance with Miami-Dade County Resolution No. R-1008-14, homebuyer counseling agencies

shall cover additional topics, including the legal significance of buying a home using a purchase and

sale agreement containing an “AS IS” clause, homebuyers’ right to select their own title agent, and

homebuyers’ right to have the property inspected by an inspector of their choice. This resolution

also requires frequent and random monitoring of these classes by Miami-Dade County to ensure

that these new topics, as well as the previously required topics, are being taught.

“Jumpstart” Assistance

The jumpstart assistance provides funding to assist disaster-affected homeowners, make a down

payment on a new home, repair their current disaster-affected home or obtain a mortgage while

awaiting a potential buyout from FEMA. Down payment assistance to purchase a new home can

be obtained in the form of a subordinate mortgage subsidy awarded on the current program

guidelines to applicants who are able to qualify for a first mortgage amount. First mortgage

assistance can be provided as an exception on a case-by-case basis.

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HOMEBUYER DOWN PAYMENT ASSISTANCE PROGRAM GUIDELINES

Income Categories to be served: very-low, low and moderate

Maximum award: $35,000

Down Payment Loan Terms:

A. Loan

B. Term: Up to 30 years deferred loan with no interest, unpaid principal

balance due at maturity.

C. Payments: No monthly payment required. Unpaid principal balance due

upon sale, transfer of title, refinance or death during the term of the down

payment loan.

D. Default/Repayment: Governed by the Homebuyer Loan Program’s

residency, resale and shared equity restrictions outlined in Ord. No. 15-

127.

E. Applicant’s income level may not exceed 140 percent of the Miami-Dade

County area mean income adjusted for family size, down payment and/or

closing cost assistance will be available to families with an annual income

between 0 to 140 percent of AMI subject to underwriting.

Recipient Selection Criteria: Available to eligible applicants as a stand-alone program or

to participants in Miami-Dade County’s Homebuyer Loan Program Ord. No. 21-24.

The program also encourages and strongly recommends that potential homebuyers receive

homebuyer counseling from a HUD certified agency and to complete approved homebuyer

education training. The education training will cover such topics as: choosing a realtor, selecting a

home, qualifying for mortgage financing to include PHCD homeownership programs, a

comprehensive home inspection, entering a purchase/sale contract, maintaining a home, handling

credit affairs and other skills needed for homeownership. For HUD approved homebuyer

counseling agencies go to https://hudgovanswers.force.com/housingcounseling/s/.

Additional Recommendations

• Combined Loan to Value (CLTV) not to exceed 105 percent of the purchase price

including all mortgages and down payment assistance.

• Borrower must have 1% of the purchase price from their own funds for the down

payment.

• Amount of down payment assistance will be based on underwriting by the first mortgage

lender.

• Fixed rate mortgages only.

• For stand-alone purchases, first mortgage lenders are not required to be an approved

lender in PHCD’s Homebuyer Loan Program. First mortgage lenders must provide a

commitment letter along with the completed loan package.

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HOMEBUYER LOAN PROGRAM GUIDELINES

THE HOMEBUYER SECOND MORTGAGE PROGRAM

• Income Limits

• 30%-140% AMI

Homebuyer’s Counseling

• 8 hours HUD approved

• Employment & Credit

• Is subject to approval by the State

of Florida licensed First Mortgage Lender*

Maximum Purchase Price

• Is subject to approval by the State

of Florida licensed First Mortgage

Lender*

• Citizenship

• Must be a US citizen or permanent

resident

Loan Terms

• 30 years

• Down-payment

• Is subject to approval by the State

of Florida licensed First Mortgage Lender*

Loan Rate

• 1% - 2%

• Minimum Debt to Income

• Is subject to approval by the State

of Florida licensed First Mortgage Lender*

Occupancy

• Primary

• Is subject to approval by the State

of Florida licensed First Mortgage Lender*

*The maximum sales price for borrowers to purchase a home under the Homebuyer Loan Program

is subject to approval by the State of Florida licensed First Mortgage Lender. The funding is provided

through the First Mortgage Lender’s First – Time Homebuyer/Homeownership Program with HLP.

The interest rates and loan amounts are determined/based on the location of the property. The

Maximum Loan Amount is up to $100,000 at 1% interest rate inside Vulnerability Ranked Eligible

Block Group Areas. Vulnerability Ranked Eligible Block Group Areas are in Miami-Dade County as

identified in the County’s Miami-Dade County Five -Year Consolidated Plan filed with the United

States Department of Housing and Urban Development (U.S.HUD). The Maximum Loan Amount is

up to $80,000 at 2% interest rate outside Miami-Dade County Vulnerability Ranked Eligible Block

Group Areas.

HOMEBUYERS

• Eligible homebuyers are single individuals, or two or more persons whose combined household

income does not exceed 140% of Area Median Income and who meet the eligibility criteria set

forth by the State of Florida licensed First Mortgage Lender

Initial Interview Process

The first step towards receiving assistance is the initial interview. The homebuyer must have all the

documents requested, including the signed sales contract for review to determine eligibility for the

subsidy. During the interview process, the applicant will be required to sign all disclosure forms for

the program. When applicable, the applicant(s) will be given a predetermination eligibility letter which

they will take to the first mortgage lender within 30 days.

The homeownership specialist schedules an interview with the applicant when the first mortgage

lender package is received. Following the initial interview, updated documents may be requested

from the homebuyer (bank statements, pay – stubs, etc.). When the first mortgage lender has

approved the file, the lender must submit to PHCD the documents below via regular mail or courier;

the documents cannot be submitted by applicant. The underwriting process must be completed

before the commitment of funds.

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Note: It is anticipated that secured electronic transmission of loan packages will be accepted in the near

future. The Department does not have the email capacity to accept electronic loan packages currently.

The loan package should consist of:

a. Form 1003 - uniform residential loan application (signed and dated)

b. Form 1008 - transmittal summary (signed)

c. Escrow letter and proof of deposit

d. Bank commitment letter

e. Truth in lending

f. Good faith estimate

g. Appraisal

h. Current tri – merged Credit Report

i. Single Family Residence – Insurance Quotes and Condo – Monthly (HOA)

j. Soil Treatment Certificate and Certificate of Occupancy (For new properties)

k. Condominium(s) 40 years or older must have 40 Year Certification (40) or

10 Year Re-certification Letter

l. Last six months (6) Bank Statements

When the file is approved by PHCD, a firm commitment letter will be issued to the homebuyer who will

be required to sign and return the commitment letter to PHCD to initiate the request for funding.

Process for Closing

PHCD requires a two (2) day notice, in writing or (email), prior to scheduling a closing.

A Final Closing Disclosure/Settlement Statement (HUD-1) must be submitted to PHCD prior to closing

for review and approval to enable funds to be requested and ensure there are no excessive fees

being charged to the homebuyer.

Developer fees are not allowed. See Attachment IV for a list of the allowable fees that can be charged

to the applicant at closing.

Miami-Dade County requires a minimum of seven working days to process and disburse requested

funds. Funds are payable and directed to the closing agents/title companies only. All closing

agents/title companies MUST be approved by Miami-Dade County.

PHCD will review reasonableness of fees imposed by closing agents/title companies or fees of a third

party before closing.

PHCD reserves the right to investigate and discuss the fees with the homebuyer which may result

in delaying the closing.

Closing agents/title companies who charge unreasonable fees are subject to removal from the

approved list of approved closing agents/title companies.

Lenders/Developers may be required to provide evidence of project approval from Fannie Mae and

Federal Housing Administration (FHA) for condominiums. Project approval from Fannie Mae and/or

FHA is required to accept subsidy financing.

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ELIGIBILITY REQUIREMENTS

Occupancy Requirement/Ownership

The homebuyer must use the property as the primary residence which will be stated in the loan

documents. Ownership must be in fee simple title. In cases of a 99-year leasehold interest, the remaining

lease term must equal the term of the loan. The Infill Housing Program homebuyer must use the property

as primary residence which will be reflected by a deed restriction or a restrictive covenant/shared equity

and will be stated in the loan documents

The property may not be rented, leased, or otherwise used as an income or investment property at any

time that the loan remains in effect. If at any time it is discovered that the property has been rented or

leased, the County may accelerate the remaining balance due on the loan and demand immediate

payment in full.

Affordability

SHIP

Loan Term 30 years or until the property is sold, transferred, leased or

otherwise disposed of.

Surtax

Loan Term 30 years or until the property is sold, transferred, leased or

otherwise disposed of.

HOME/CDBG

< $15,000 = 5 years

$15,000 to $40,000 = 10 years

>$40,000 = 20 years

For HOME Loans only. If FHA, insured mortgage15 years

Eligible Verification (Surtax, Home/CDBG and Ship)

Household occupants shall be verified by using any one or more of the following items:

• Birth certificates and Social Security cards on all household occupants (no birth cards).

• School records which give dependents’ residing address.

• Court-ordered letters of guardianship/adoption.

• Copy of divorce decree and property settlement agreement.

• Children who live with parent for 50 percent of the year should be included among the members in a

household (joint custody).

• In cases where the applicant claims to be separated from the spouse; the applicant must provide the

following additional documentation for the spouse who will not occupy the property (IRS tax return;

driver’s license; voter’s registration card; legal separation agreement; utility bills).

• A third-party verification or regular cash contribution letter must be submitted for non-court ordered

child support.

• A letter from the Department of Revenue/Child Support Enforcement office is required. The full

amount of court ordered child support must be included in household income whether it is regularly

received by the household. SHIP stipulation will apply.

• Marriage Certificate (when applicable).

Homebuyer(s) who are delinquent on a Federal debt or debt related to Miami-Dade County may become

eligible once the borrower brings the account current or enters a satisfactory repayment plan with the

respective federal agency.

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Immigration Status

Applicants for any of the programs and/or activities mentioned herein are subject to immigration

regulations and eligibility as determined by the United States Department of Housing and Urban

Development (USHUD) and/or Miami-Dade County regulations. Benefits may be prorated based on the

income of legal residents in a household.

For Documentary Stamp Surtax (Surtax) loans, proof of US permanent resident status or US Citizenship,

and/or other related documentation (including special status such as Nicaragua Adjustment and Central

American Release Act (NACARA Section 203), Cuban Adjustment Act and political asylum) must be

current as of the date of application for assistance from the County.

For HOME, CDBG and SHIP, the applicants must be permanent residents of the United States or U.S.

Citizens.

INCOME SECTION

Income Qualification

For subsidy purposes, annual income is the gross amount of income anticipated to be received by all

adults in a family during the twelve (12) months following the effective date of the income determination.

When calculating income, note that SHIP and HOME/CDBG funding require that the anticipated income

be based on present income plus any income to be received in the next 12 months. Once the income

certification is completed by PHCD staff and executed by the SHIP Administrator or designee, an award

letter/commitment letter is issued. The commitment letter is valid for six months. Surtax allows for

income averaging for the past two years for applicants who are self-employed earn commission, tips,

bonuses, and overtime.

Florida property laws do not legally recognize separation as it relates to property ownership.

Consequently, when an applicant is legally married but does not currently reside with the spouse, the

spouse must sign the mortgage and the subsidy recapture provision, and his/her income must be

counted as part of the annual household income. Florida property laws apply in cases of temporary

separation, for example, when a spouse does not live in the house due to military service, attendance

in college, offshore work, or other instances where a family member is temporarily residing in another

location.

In some situations, however, it seems clear that the homebuyer has no plan to reunite with the estranged

spouse and the separation is permanent. The flexible nature of these programs is intended for local

governments to determine the appropriate use of funds while 1) ensuring accountability, 2) to decide

about a permanent separation 3) and to obtain as many details as possible to document the subsidy

recipient. In cases of permanent separation where the applicant and the estranged spouse maintain

separate residences and file separate tax returns the homebuyer must provide proof of separation by

providing copies of the estranged spouse’s IRS tax returns, driver’s license, utility bills, etc. The

estranged spouse does not need to be counted in the household size and his/her income should not be

included in household income.

Qualifying Using Section 8 Voucher

If a homebuyer is purchasing under the Section 8 Housing Choice Voucher Homeownership Program

the Housing Assistance Payment (HAP) may not be added to the homebuyer(s) annual income to

determine the maximum first mortgage amount, or the HAP may be deducted from the principal and

interest of the first and/or subordinate mortgage, whichever provides the greatest benefit to the

homebuyer. The HAP is the difference between the voucher amount and the homebuyer(s) portion of

the rent.

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Please note that this amount is subject to change, because it will be based on the property to be

purchased. The revised amount must be approved and authorized by the Section 8 Housing Choice

Voucher Program. Consequently, it is required that all clients obtain lender pre-approval prior to contract

execution.

Income Recertification

Annual income recertification is required of all homebuyers who purchase property using the Section 8

Housing Choice Voucher Homeownership program.

INCOME RANGE OF APPLICANTS TO BE SERVED

The homebuyer(s) total household income may range from very low to moderate-income depending

on the funding source being invested in the property. Homebuyer(s) total household income must

meet the income criteria at the time the homebuyer applies for mortgage assistance. (See Attachment

I for current income limits).

Income must also be calculated based on the information provided in the Verification of Employment

form. Income calculated for subsidy purposes may differ from income used for credit purposes by the

lender.

FUNDING SOURCE

Surtax

SHIP

Maximum applicant income limits as

a percentage of the area median

income (“AMI”)

140%

Note: Funding source income limits may be further restricted by program guidelines.

INCOME AND IDENTITY VERIFICATION

Homebuyer(s) income will be verified using one or more of the following documents:

• Tax returns, W2’s and 1099’s must be signed and dated by the applicant(s)

• Also required copies of the tax transcripts for the most recent tax year end

• Verification of employment, (Federal National Mortgage Association (FNMA) form or third-party form

included in these guidelines are acceptable, provided that the form is filled out completely)

• Other sources of income that can be readily verified (i.e., social security, pension retirement, and child

support)

• Social Security Income may be subject to federal restrictions, which may limit its use

• Interest, dividends, and other net income

• Any other form of verification as required by funding

• Cash contribution letter for non-court ordered child support

• A letter from the Child Support Enforcement Division whether child support is being received or not.

In addition to Federal Income Tax Returns, the number of household occupants shall be verified using

one (1) of the following items:

*Note: If a dependent is listed on the tax return, then copies of birth certificates can be sufficient. However, if

a copy of the birth certificate is in the file and the dependent is not listed on the tax return, we may request

copies of school records to verify that the individual resides on the property.

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Income Inclusions and Exclusions for Eligibility Purposes for Surtax/SHIP

Annual Income Inclusions

Annual Income Exclusions

Annual income inclusions defined under U.S. HUD 24

C.F.R. Section 5.609(b) are listed as follows:

• The gross amount (before any payroll deductions)

of wages, salaries, overtime pay, commissions,

fees, tips and bonuses, and any other

compensation for personal services received by

all eligible household members;

• the net income from the operation of a business

or profession;

• interest, dividends, and other net income of any

kind from real or personal property;

• the full number of periodic amounts received from

Social Security, annuities, insurance policies,

retirement funds, pensions, disability or death

benefits;

• payment in lieu of earnings, such as

unemployment and disability compensation,

worker’s compensation and severance pay;

• welfare or other need-based payments to families

or individuals that are made under programs

funded separately, or jointly by federal, state or

local governments;

• periodic and determinable allowances, such as

alimony and child support payments, and regular

contributions or gifts received from organizations

or from persons not residing in the dwelling;

• all regular pay, special pay and allowances of a

member of the Armed Forces; and

• SSI income may be subject to federal restrictions

which may limit its use.

Note: Surtax allows for income averaging for the past

two years for applicants that are self-employed, or earn

commission, tips, bonuses, and overtime.

The most common types of excluded annual income

include:

• Income from employment of children (including

foster children) under the age of eighteen (18)

years;

• payments received for the care of foster children or

adults;

• lump-sum additions to family assets, such as

inheritances, insurance payments;

• reimbursement for the cost of medical expenses for

any family member;

• income of a live-in aid;

• the full amount of student financial assistance paid

directly to the student or to the educational

institution;

• the special pay to a family member serving in the

Armed Forces who is exposed to hostile fire;

• income from training programs funded by HUD;

• temporary, nonrecurring or sporadic income

(including gifts);

• reparation payments paid by a foreign government

to persons who were persecuted during the Nazi

era;

• income from earnings in excess of $480 for each

full-time student eighteen (18) years or older

(excluding the head of household and spouse);

• adoption assistance payments in excess of $480

per adopted child;

• deferred payments received in a lump sum;

• refunds or rebates for property taxes paid on the

dwelling unit; or services and equipment needed to

keep a developmentally disabled family member at

home

Page 13 of 38 Revised 01/18/2024

Income Inclusions for Credit Purposes Surtax/SHIP

CREDIT DOCUMENTATION

Surtax

SHIP

Subject to approval by the State of

Florida licensed First Mortgage

Lender.

Verification of employment (valid for 90

days from the date received. If the

information is orally updated by the

source, the VOE will remain in effect for

an additional 30 days).

Third Party Verification of Employment is

required by SHIP, (Attachment III)

Subject to approval by the State of

Florida licensed First Mortgage

Lender.

Tax returns and W-2 for the previous two

(2) years or IRS Form 1722 (which gives

the applicant’s income and filing status

may be requested). Returns must be

signed & dated by applicant.

Subject to approval by the State of

Florida licensed First Mortgage

Lender.

If self-employed year-to-date, profit and

loss statement as of the date of

application.

. Subject to approval by the State of

Florida licensed First Mortgage

Lender.

Six (6) months of bank statements or

bank’s computer printout reflecting a

balance for each month

Subject to approval by the State of

Florida licensed First Mortgage

Lender.

Tri-merged credit report (valid for 3

months)

Subject to approval by the State of

Florida licensed First Mortgage

Lender.

Verification of Assets – Retirement

Account

Page 14 of 38 Revised 01/18/2024

Homeownership Loan Ratios

Minimum front-end ratios may be lower at the discretion of Miami-Dade County.

Ratios are subject to change based on industry standards.

Loans to applicants allow for the following ratios:

Funding Source:

Surtax

HOME/CDBG

Maximum Monthly Housing Debt*

Subject to approval by the State of

Florida Licensed First Mortgage

Lender

40 %

Maximum Total Debt-to-Income*

Subject to approval by the State of

Florida Licensed First Mortgage

Lender.

50%

*INCLUDING OUTSTANDING CREDIT OBLIGATIONS*

FIRST MORTGAGE LENDER LOAN PROCESSING FOR MORTGAGE ASSISTANCE

First Mortgage Lender (lender), developers, and Realtors perform a pre-screening of their applicants to

ensure that they have documentation required by the program making an appointment to meet with a

homeownership specialist. The Lender, developer, and Realtor will provide the checklist of documents to

their applicants (see Attachment II). After the lender, developer, and/or Realtor have pre-screened the

applicant, he/she will instruct the applicant to contact PHCD to set an appointment for an interview with the

homeownership specialist assigned to the case. The lender will be advised of the homeownership specialist

assigned to the case. New construction of single-family homes should be 80% completed prior to first lender

loan submission and/or PHCD pre-approval.

NOTE: Due to the limited availability of funds, all funds will be made available for interested homebuyers

on a first-come first-serve basis. However, a homebuyer must meet all program requirements to close.

Property Standards

Detached single-family units, condominium units, approved manufactured homes, studios, twin

homes (must evidence a Declaration of Condominium documents recorded in the Public Records

disclosing separate folio numbers), except for common areas and town homes are eligible

properties. File(s) classified as Twin home Properties are required to have separate folio numbers

at time of file submission to PHCD for second mortgage subsidy (NO EXCEPTIONS). Properties

with swimming pool are acceptable on a case-by-case basis except for HOME, SHIP & CDBG

funding. The pool monthly maintenance fee will be included in the debt-to-income ratios when the

subsidy loan is approved. For HOME/CDBG loans only, ineligible properties are those properties

leased to a tenant which would trigger a relocation of that tenant.

Duplex and Time Share properties are not eligible for Homeownership Assistance.

Page 15 of 38 Revised 01/18/2024

Purchase Price

The maximum sales price for borrowers to purchase a home under the Homebuyer Loan Program is

subject to approval by the State of Florida licensed First Mortgage Lender.

At a minimum, the property must be appraised for the contracted purchase price, however, if the

appraised value is less than the purchase price, PHCD will not provide subsidy financing above the

appraised value and additional funds beyond the appraised price.

The Infill Housing Program Maximum Sales Price pursuant to Miami-Dade Ordinance 21-80 for

homes sold under Miami-Dade Affordable Housing Programs, including Infill is $394,000 or the

Appraised value (the lesser of the two).

Note: For maximum subordinate mortgage amounts for low to moderate-income individuals and families,

income and mortgage limits. (See attachment I)

Credit Requirements

PHCD housing programs do not have a minimum credit score requirement or threshold; the

Department however reserves the right to ask for explanations of any derogatory or negative items

contained in the credit report. In situations whereby a collection appears on the credit report, whether

those collections require repayment prior to the loan closing is left to the discretion of PHCD. All

collection items related to a County Program or including a County medical collection, must be paid

prior to closing.

Non-Applying Spouse

Non-homebuyer spouse can have an ownership interest in the property at the time of settlement

without executing the promissory note. The non – homebuying spouse must execute a restrictive

covenant or the shared equity agreement, if applicable.

The credit history of the non-homebuyer spouse is not considered as a reason to deny a loan

application. However, the non-homebuyer spouse’s income will be used to determine the

appropriate subsidy.

DOWN PAYMENT / CLOSING COSTS

Down payment requirements are as follows:

• Minimum down payment requirement is subject to the approval of the State of Florida

Licensed First Mortgage Lender.

• Down payment required by US HUD for Section 8 Homeownership Program is three percent

(3%) of the purchase price, of which one percent (1%) of the purchase price must be from

the applicant’s own funds.

The combined loan-to-value ratio “CLTV” of all mortgages including closing cost assistance shall

not exceed one hundred five percent (105%) of the purchase price and for loans funded with Surtax Funds

shall be subject to the approval of the State of Florida Licensed First Mortgage Lender.

GIFTS

The homebuyer can satisfy part of the cash requirement for closing with funds received as cash gifts

from relatives, or cash savings clubs. For underwriting purposes, a relative is defined as a spouse,

parent, stepparent, legal guardian, grandparent, brother, sister, or child. In general, before using

funds from gifts, the homebuyer is recommended to use his or her own funds to make a down

payment toward the sales price of a property.

Page 16 of 38 Revised 01/18/2024

To verify a gift, the homebuyer is recommended to obtain a signed letter from the donor that includes:

• Specific dollar amount of the gift and date the funds were deposited/transferred to the

borrower’s bank account.

• Donor’s name, address, telephone number, and relationship to the homebuyer.

• Statement from the donor saying that no repayment is expected.

In cases where the gift funds have already been transferred, staff must verify that sufficient funds to

cover the gift have been transferred from the donor’s account to the homebuyer s account or that

the donor’s account has adequate funds to cover the amount of the gift.

ASSET LIMITATIONS

Any excess liquid assets over $50,000 (excluding pensions, annuities, 401K, etc.) are recommended

to be used for a higher down payment or to cover closing costs. Liquid Assets is defined as available

cash on hand, or in banks or an instrument that has the capacity to be easily converted to cash.

This asset limitation does not apply to retired persons regardless of age or permanently disabled

persons.

For HOME/CDBG and SHIP only, applicants who have assets in excess of $5,000.00 must include

income earned assets in the income calculation using the greater of (i) the actual income earned on

those assets, or (ii) the income calculated using the current LIBOR rate as set by HUD.

FIRST MORTGAGE FINANCING

Miami-Dade County will not approve subordinate mortgage financing for loans whose first mortgage

has a balloon payment, adjustable rate, carries an unusually high interest rate, or includes

prepayment penalties.

The lender must use the tax estimator from the Miami-Dade County Property Appraiser website to

estimate the taxes and calculate the insurance at 1.5% of the purchase price if a quote cannot be

obtained prior to submitting the loan package.

SECOND MORTGAGE FINANCINING

Monthly Payments for PHCD Assistance

Monthly Payments for Surtax loans will be as follows

Income Level

Interest Rate

Years 1 to 30

Very Low to Moderate

1-2%

Fully amortized for 30 years

PHCD will process the application for a second mortgage at a 1% or 2% interest rate, to assist in

the acquisition of the home. The amount and interest rate on the loan and the resulting monthly payment

be based on the information submitted to PHCD by the first mortgage lending institution handling the

application, after the lender approves the homebuyer for a first mortgage. The amount of the second

mortgage at below market rate (subsidy) will be calculated based on the homebuyer’s income and family

size, as a percentage of the sale’s price. The monthly payments on the second loan will be based on the

loan amount and interest rate approved for the homebuyer. There will be a fully amortized thirty (30) year

monthly payment in every case. The lender will provide the homebuyer an estimate of the monthly

payment. Some exceptions may apply.

Page 17 of 38 Revised 01/18/2024

Inspection

Homes finance through the Miami-Dade County Homebuyer Loan Program are recommended to

undergo an inspection by a qualified home inspector in accordance with Miami-Dade County

Resolution No. R-1008-14. A qualified home inspector is one who has a valid home inspection

license issued by the State of Florida through the home inspection services licensing program. Prior

to commencing a home inspection, the home inspector shall provide a copy of their license to

practice home inspection services in the State of Florida to the homebuyer. The home inspection is

intended to prevent hardships on homebuyers and can be useful in preventing homebuyers from

purchasing homes with structural or other building problems. The breadth of the home inspection

shall be enough to alert homebuyers of significant defects in the home, including structural problems,

and identify whether the home is in compliance with the Miami-Dade County Building Code. If the

Comprehensive Private Home Inspection Report reflect repairs and/or replacements, PHCD must

have evidence regarding the repairs and/or replacements were completed prior to Closing. The

Department has the discretion to deny a homebuyer loan on a particular property based upon

substantial negative findings in the home inspection upon a determination that denying a loan is in

the best interest of the County. The payment of said inspection can be from the homebuyer in cash

or using the funds loaned to the homebuyer from the County. If the property does not pass

inspection and the homebuyer does not close on that property, PHCD will consider reimburse to the

homebuyer for the cost of the inspection.

Buildings forty (40) years and older must possess the Forty (40) Year Certification or Ten (10)

Year Re-certification Letter from the appropriate jurisdiction at time of file submission.

Any successor regulations to the current 40 years or 10 years recertification requirements

shall be made a part of these guidelines without specific amendments to these guidelines.

A Hold Harmless Affidavit will also be required to be signed by the applicant(s) at time of

application that states the County is not responsible for code violations, liens, open permits,

or illegal structures. Sellers are required to disclose code violations, illegal structures or

additions. Miami-Dade County will not award subsidy financing if any of these conditions

exist.

Housing Quality Standards (HQS) Inspections are required for Section 8 Housing Choice Voucher

Homeownership Program transactions. Inspections of the roof, septic tank and for termites shall

be performed by a State of Florida licensed inspector specializing in each of these areas. These

three inspections shall be paid for by the homebuyer regardless of the outcome of the inspection

and are valid for 45 days from the date of the inspection.

If the property was constructed prior to 1978, a lead-based paint inspection will be required by an

Environmental Protection Agency (EPA) Certified Inspector, EPA Certified Risk Accessor and/or

EPA Certified Firm prior to closing and is to be paid for by the homebuyer. The report must show a

negative outcome for lead base paint. Where lead base paint is uncovered, abatement must be

completed prior to closing. All construction projects must obtain a certificate of occupancy, a loan

closing will not take place with a temporary certificate of occupancy.

All federal funded loans (HOME) also require an Environmental Review Clearance which will be

conducted by PHCD staff, or successor entity.

Page 18 of 38 Revised 01/18/2024

FOR HUD “HOME” FUNDED PROGRAMS ONLY

Homebuyer Resale Provision. Resale provisions are applicable if the housing is assisted with HUD

HOME funds and the assisted housing does not continue to be the principal residence of the family

for the duration of the period of affordability. PHCD requires the assisted housing is made

available for a subsequent purchase only to a buyer whose family qualifies as a low-income family

and will use the property as its principal residence.

Homebuyer Repayment. PHCD will provide zero percent (0%) interest deferred payment,

(_______ lien position) mortgage loan in an amount of up to $_________ until the first to occur of

the following events: (1) Home Buyer sells, transfers or deposes of the assisted unit (either by

sale, transfer, bankruptcy or foreclosure, etc.), (2) the Home Buyer no longer occupies the unit as

their principal residence. (3) the Home Buyer dies, or if a married couple, survivor dies or (4) the

affordability period for this loan ends.

Loan Servicing

All loans referenced in these guidelines will be serviced by the PHCD Loan Servicing Unit or

Miami-Dade County approved private firm specializing in mortgage loan servicing. All costs

associated with the servicing of homeownership loans shall be paid out of the loan program

operating budget.

PARTICIPATING FIRST MORTGAGE LENDERS

Loans

The Purchase and Sales Contract should reflect a 60-day period to closing. When the loan is

submitted by the first mortgage lender, PHCD should be allowed up to 30 days to close from the

date all required documents and information are received from underwriting to close.

Page 19 of 38 Revised 01/18/2024

Attachment I

INCOME AND MORTGAGE LIMITS

Adjusted for Family Size

Median

FAMILY SIZE

30%

50%

80%

100%

120%

140%

<E LOW

<-V.LOW

$21,700.00

$36,150.00

$57,800.00

$72,300.00

$86,760.00

$101,220.00

$24,800.00

$41,300.00

$66,050.00

$82,600.00

$99,120.00

$115,640.00

$27,900.00

$46,450.00

$74,300.00

$92,900.00

$111,480.00

$130,060.00

$30,950.00

$51,600.00

$82,550.00

$103,200.00

$123,840.00

$144,480.00

$35,140.00

$55,750.00

$89,200.00

$115,500.00

$133,800.00

$156,100.00

$40,280.00

$59,900.00

$95,800.00

$119,800.00

$143,760.00

$167,720.00

$45,420.00

$64,000.00

$102,400.00

$128,000.00

$153,600.00

$179,200.00

$50,560.00

$68,150.00

$109,000.00

$136,300.00

$163,560.00

$190,820.00

MEDIAN INCOME IS $74,700.00 FOR MIAMI-DADE COUNTY)

SHIP/SURTAX limited to 140 % (Subject to periodic revisions by US HUD Effective (May 11th, 2023)

(Income and Mortgage Limits REVISED (May 11th, 2023)

MAXIMUM Subsidy Table

Percentage of AMI

Up to 140%

Properties within vulnerability areas providing

assistance up to:

$100,000.00

Properties not in vulnerability areas providing

assistance up to:

$80,000.00

Funding Source for all

funds

Surtax

SHIP

Income Limit

Low income and moderate-income households at or

below 140% of AMI

(Area Median Income)

Low income and moderate-income households at or below

140% of AMI

(Area Median Income)

Maximum purchase price

of property allowed by

program (subject to

change)

The maximum sales price for borrowers to purchase

a home under Miami-Dade County’s Affordable

Housing Program is subject to approval by the State

of Florida licensed First Mortgage Lender.

The maximum sales price for borrowers to purchase a

home under Miami-Dade County’s Affordable Housing

Program is subject to approval by the State of Florida

licensed First Mortgage Lender. The funding is provided

through the Mortgage Lender’s First Time –

Homebuyer/Homeownership Program with the HLP.

Purchase Price Limits for

Loans

The maximum sales price for borrowers to purchase

a home under Miami-Dade County’s Affordable

Housing Program is subject to approval by the State

of Florida licensed First Mortgage Lender.

The maximum sales price for borrowers to purchase a

home under Miami-Dade County’s Affordable Housing

Program is subject to approval by the State of Florida

licensed First Mortgage Lender. The funding is provided

through the Mortgage Lender’s First Time –

Homebuyer/Homeownership Program with the HLP.

INFILL PROPERTIES

Effective July 1, 2023, the current Maximum Sales

Price pursuant to Miami-Dade County Ordinance 21-

80 for homes sold under Miami-Dade Affordable

Housing Programs, including Infill is $394,000 or the

Appraised value (the lesser of the two).

Effective July 1, 2023, the current Maximum Sales Price

pursuant to Miami-Dade County Ordinance 21-80 for

homes sold under Miami-Dade Affordable Housing

Programs, including Infill is $394,000 or the Appraised

value (the lesser of the two).

ALL UNITS MUST MEET THE CRITERIA SUBMITTED TO THE COUNTY IN THE RFA FOR WHICH THEY WERE AWARDED

FUNDING (i.e., Purchase price, unit size, number of units, etc.). NO EXCEPTIONS.

Page 20 of 38 Revised 01/18/2024

Attachment II

Page 21 of 38 Revised 01/18/2024

Attachment III

First Mortgage Lender’s Name

Loan Officer/Processor

Phone

Fax

Title Company’s Name

Address

Title Company’s Contact Person

Phone

Fax

Borrower’s Name

Co-Borrower’s Name

Current Address

City, State & Zip Code

Daytime

Phone Number

Evening

Phone Number

Mobile

Phone Number

Property Address:

Developer Name/ Project

Name:

Contact person for

Inspection:

Name

Phone/Email

Page 22 of 38 Revised 01/18/2024

All documentation listed below, if applicable, must be submitted as part of the lender package. Failure

to do so may delay the application process.

REQUIRED DOCUMENTATION AT TIME OF PHCD INTERVIEW

Fully executed sales contract with at least 60 days remaining before expiring.

Two (2) years signed and dated Income Tax Returns and W-2’s and/or 1099’s with all applicable Schedules for all adult and

Household Members.

If applicable: Award letters for all other income: Social Security pension/retirement/SSI/welfare/disability.

APPLICANT(S) OFFICIAL PAYCHECK STUBS FOR THE MOST CURRENT 30 DAYS PAY PERIOD. APPLICANT(S)

MUST CONTINUE TO MAKE CURRENT OFFICIAL PAYSTUBS AVAILABLE UNTIL LOAN IS APPROVED AND PRIOR

TO CLOSING.

Proof of legal residence: U.S. Citizenship or Permanent Resident Alien Card, INS Employment Authorization, I-94 (Cuban

Citizens only). *Please Note: Documents must be current at time of application.

Picture ID (i.e., Driver License, Employment ID, etc.) and Social Security Cards. (SOCIAL SECURITY CARDS NOT

REQUIRED FOR DEPENDENT(S)

Most current six months bank statement for all accounts including all pages.

Birth Certificate(s) for all household members, Letter from guardianship/adoption (if applicable) and/or School Records.

If applicable: Marriage Certificate, All Divorce Decrees and Property Settlement Agreements; Proof of receipt of child support

for the prior 12 consecutive months; Provide proof of non-receipt and “good faith” effort to collect and avoid inclusion in annual

income figure.

If applicable: Third Party Verification of Regular Cash Contribution Letter for non-court ordered child support; If the applicant

is not receiving court-ordered child support, a letter from the Department of Revenue, Child Support Enforcement Office is

required.

Recommended - Certificate of Completion of Homebuyers Training Program. CERTIFICATE IS GOOD FOR ONE YEAR

ONLY. (HOMEBUYER COUNSELING CERTIFICATE IS PRESENTED AT FACE-TO-FACE INTERVIEW WITH

PHCD).

REQUIRED DOCUMENTATION FROM FIRST MORTGAGE LENDER AT TIME OF

SUBMITTAL TO PHCD

First Mortgage Lender and all other participating Lenders’ Commitment Letters.

PHCD Ethics Commission Disclosure Statement for all PHCD Programs

Last two (2) years IRS Transcripts with W – 2 and / or 1099’s

Executed 1003 and 1008 (Transmittal Summary), Truth in Lending (TIL) and Good Faith Estimate

Appraisal Long Form – Original with pictures or acceptable electronic color copy

Copy of Comprehensive Private Home Inspection Report

Condo Project Approval, Estoppel Letter, Condo Questionnaire, Condo Budget and Condo Approval Letter (WHEN

APPLICABLE INCLUDE THE FORTY (40) YEAR CERTIFICATION OR TEN (10) YEAR RECERTICATION WHICH MUST

BE FROM MIAMI-DADE COUNTY BUILDING DEPARTMENT OR ITS MUNICIPALITY BUILDING DEPARTMENT. IF THE

VALID CERTIFICATION IS NOT INCLUDED IN THE LOAN PACKAGE, IT WILL BE RETURNED TO THE FIRST

LENDER/SENDER).

Last two (2) years Verification of Rent Letter(s) from the Landlord(s).

Copy of Escrow Letter and cancelled deposit check(s).

Current Tri-merged credit report.

Legible Copy of fully executed Sales Contract including Addendum extending Closing Date. (IF APPLICABLE)

For FHA Loans (Executed and Dated Forms HUD 92900 – A, 92900 – LT and 92800 – 5B) Addendum to Universal

Residential Loan Application.

Please be advised that the purchase contract must contain the below clauses:

➢ Subject to loan approval by Miami-Dade County, Department of Public Housing &

Community Development.

➢ HQS (Housing Quality Standard) Inspections for all loans made as part of the Section 8

Housing Choice Voucher Homeownership Program.

Page 23 of 38 Revised 01/18/2024

Attachment IV

Miami-Dade County Public Housing and Community Development

Conflict of Interest Form

Please check the following item(s) that apply; required to be completed

_________ Miami-Dade County employee (including Jackson Public Health Trust Employees)

(Ethics Opinion must be sought – http//ethics.miamidade.gov/frequently-used-

forms.asp)

Provide explanation below

_________ Relative to Miami-Dade County employee

Provide explanation below

_________ Relative to Miami-Dade Board of County Commissioner

Provide explanation below

_________ None of the above

Explanation ________________________________________________________________

________________________________________________________________

Please be advised that the purchase contract must contain the below clauses:

• Subject to loan approval by Miami-Dade County, Department of Public Housing & Community

Development.

• Required for all Section 8 Loans.

Page 24 of 38 Revised 01/18/24

Attachment V

THIRD-PARTY VERIFICATION OF EMPLOYMENT

State and/or Federal Regulations require PHCD to verify employment history and income information for

the person that has provided authorization below, in order to determine their eligibility for program

assistance. Your cooperation in providing the requested information below is most appreciated. You may

fax to 786-469-2230 or mail to the address below.

Authorization:

I hereby authorize the release of requested information. A copy of the executed “Authorization for the

release of Information” is attached which indicates my agreement with the release of information requested

for the sole purpose of determining eligibility for program assistance.

____________________________________________________________________________

Signature of Applicant Print Name Date

____________________________________________________________________________

Signature of Co-Applicant Print Name Date

Please return information to:

Public Housing and Community Development

701 NW 1

Court, 14

Floor

Miami, FL 33136

786-469-2246 or 786-469-2251

Attn:

Please provide information about anticipated employment income during the next 12 months:

Company Name: ______________________________________________________________

Position__________________ Length of Time Employed: ____________________________

Pay Rate: ___________________ Pay Frequency (Hr., Wk., Mo): __________________

Overtime Pay Rate: _______________ Average Overtime Hours/Wk./Semi-Wk.: ___________

Total Annual Base-Pay Earnings: ___________ Total Overtime Base-Pay Earnings: _________

Amount and frequency of other Compensation (bonus, raise, commission, tips): ____________

Vacation Pay (Y or N): _________________ If yes, number of days: __________________

Retirement Account (Y or N): __________Amount Accessible to Employee: $_______________

Total Gross Annual Income, including other compensation, for next 12 months: $ ___________

Signature of authorized representative: _____________________________________________

Printed Name: ________________________Title: ____________________________________

Date: __________________________ Phone: ____________________________________

Warning: Florida Statute 817 provides that willful false statements or misrepresentation concerning income,

asset or liability information relating to financial condition is a misdemeanor of the first degree, punishable by

fines and imprisonment provided under Statutes 775.082 or 775.83.

Note: For ALL applicable Household Members 18 years or over, obtain a signed copy of this form for each verification to be

completed. Send form directly to the appropriate employment source; do not send form through applicant. Upon receiving

verification, date-stamp, and compare information to that received on application. Make any necessary notations, date and

initial. If significant differences exist between amount reported and verified, obtain a written explanation from applicant and

attach to file.

Page 25 of 38 Revised 01/18/2024

Attachment VI

SCHEDULE OF ACCEPTABLE FEES TO BE CHARGED TO APPLICANT

The interest rate to be charged on the first mortgage will be the Freddie Mac, FNMA, or FHA net 30-day

rate for 30 years and shall be locked in for a period of at least 60 days. If the loan is not closed within 60

days, the interest rate will be the prevailing rate to be determined not less than 5 days before closing. The

rate shall be locked in at the time of loan approval with a “float down” feature if the rates should go down.

The First lenders must immediately inform PHCD of rate changes.

The first lenders do not charge a fee for relocks or extensions

The term of the first mortgage loan shall be 30 years fixed.

The maximum allowable fees to the applicant are as follows:

The fee is set at a maximum of 2% of the first mortgage amount and is the only fee to be charged by the

first lender. It should be enough to cover the following costs:

Document Prep Fee

Tax Service Fee Prevailing Lender Cost

Flood Certifications Prevailing Lender Cost

Underwriting Fee

Processing Fee

Closing Fee

Application Fee

Settlement Fee

Notary Fee

Miami-Dade County, PHCD Loan Set-Up Fee ($100.00) and Origination Fee ($400.00) must be disclosed

and charged on CD’s/HUD – 1 Settlement Statement.

If the lender chooses to disclose these fees as separate line items on the HUD-1 and Good Faith

Estimate (GFE), the total of these fees cannot exceed 2% of the first mortgage loan amount. Lenders

are not permitted to charge both the 2% origination fee and the fees listed above.

Closing Fees are not to exceed $850.00 for all Mortgages.

Lenders are allowed to charge the following fees when compliant with the first mortgage loan:

Appraisal Fee Prevailing Vendor Cost

Credit Report Prevailing Vendor Cost

Re-certification Fee $100.00 Maximum

Final Inspection $100.00 Maximum

Roof/Termite Inspection Prevailing Vendor Cost

Recording Fees Per State Regulations

Septic Tank Inspection Prevailing Vendor Cost

Developer Fees are not permitted to be charged to the applicants.

Page 26 of 38 Revised 01/18/2024

MIAMI-DADE COUNTY

PUBLIC HOUSING AND COMMUNITY DEVELOPMENT

SINGLE-FAMILY HOMEOWNER REHABILITATION GUIDELINES

LOAN ASSISTANCE PROGRAM GUIDELINES

INTRODUCTION

Miami-Dade County has programs that provide homeowners with low-interest rate loans to assist

in making necessary repairs to their home and/or to protect their home with the installation of

hurricane shutters or impact windows.

SCOPE

These guidelines cover only owner-occupied single-family homes, including cluster, twin, town

homes and condominiums. Mobile homes do not qualify.

DEFINITIONS

1. Completion of Rehabilitation occurs when all inspections have passed, and all permits

have been closed for all the work performed.

2. Disabled: anyone in the household who has proof of disability, regardless of age.

3. Development Disabilities defined in s.393.063, Florida Statutes means a disorder of

syndrome that is attributable to retardation. Cerebral Palsy, Autism, Spina Bifida or Prader-

Willi Syndrome; that manifests before the age of 18; and that constitutes a substantial

handicap that can reasonably be expected to continue indefinitely.

4. Elderly: an applicant who is ≥62 years old.

5. Dwelling Unit: a residential space which qualifies as a place of permanent habitation for one

family which contains a living room, kitchen area, bathroom(s) and bedroom(s). An

efficiency apartment (studio) is considered a one-bedroom unit.

6. Family: an individual or two or more persons related by blood, marriage, adoption,

guardianship or operation of law; or are not so related; and may include one or more

individuals (who have not attained the age of 18) being domiciled with a parent or another

person having legal custody of such individual or the designee of such parent or the person

having such custody, with the written permission of such parent or other persons who

occupy the same dwelling unit.

7. Income Classifications: These limits shall be adjusted automatically whenever the federal

government (U.S. HUD) periodically updates the median income for Miami-Dade County.

• Very Low income means a family whose gross income is below 50% of the median

income for Miami-Dade County.

• Low income means a family whose gross income is below 80% of the median income

for Miami-Dade County.

• Moderate income means a family whose gross income is greater than 80% and not to

exceed 140% of the median income for Miami-Dade County.

8. Owner: the individual(s) who holds valid legal title to the property to be rehabilitated.

9. Owner Occupied: a residential property containing one dwelling unit in which the owner

resides on a full-time basis.

Page 27 of 38 Revised 01/18/2024

10. Rehabilitation: the repair of a structure or facilities in connection with a structure and may

include the provision of sanitary or other facilities.

11. Single Family Property: property devoted solely to residential use and consisting of one

dwelling.

12. Persons with Special Needs defined in s.420.0004, Florida Statutes: means an adult person

requiring independent living services in order to maintain housing or develop independent

living skills and who has a disabling condition s.420.0004(7); a young adult formerly in foster

care who is eligible for service under s.409.1451(5); a survivor of domestic violence as

defined in s.741.28; or a person receiving benefits under the Social Security Disability

Insurance (SSDI) program or the Supplemental Security Income (SSI) program or from

veterans’ disability benefits.

Disabling Condition defined in s.420.0004 (7), Florida Statutes: means a diagnosable

substance abuse disorder, serious mental illness, development disabilities, or chronic physical

illness or disability, or the co-occurrence of two or more of these conditions, and a

determination that the condition is:

• Expected to be of long-continued and indefinite duration; and

• Not expected to impair the ability of the person with special needs to lay independently

appropriate supports.

13. Work Write–Up: the itemization of all rehabilitation work to be done on a property, including

such directions and specification for workmanship and materials as may be necessary for

the job to be bid and constructed properly and to pass all inspections by Miami-Dade

County.

LOAN PROGRAMS AND AMOUNTS

Assistance for Condominium Unit Owners/Special Assessments per Use of Surtax Dollars

This Program will assist owner occupied condominium homeowners with limited finances, address

special assessment requirements associated with rehabilitation/repairs as a result of applicable

building integrity recertification requirements. Surtax funds will be in the form of a loan and the

annual household median income may not exceed the maximum limit of 140% as indicated in the

Miami-Dade County income limit chart. Loan terms will be structured to mitigate the financial

burden on families while recognizing the need to ensure compliance with the Surtax program.

• The Program will address physical damage to the condominium

• The Program will assist families and or/individual homeowners

• The Program will assist Condominium Properties throughout the County

• The homeowner must reside in the unit and it must be their primary residence and homestead;

Investment owners are not eligible for program assistance

• The Program will provide loans up to $50,000.00 with a repayment term of 40 years

• The monthly payment will be $50.00 for low-income families with the remaining balance due at

Maturity Date

• The monthly payment for moderate income families will be calculated at 0.00% interest rate for 40

years

• Any cash assets exceeding $50,000.00 must be used for down payment up to 10% of the loan

amount

• If the owner sells the property, cash out refinance or ceases to use the home as primary residence,

the balance of the loan becomes due and payable

• Upon the death of the owner, the loan shall become due and payable in full unless ownership of

the property passes to the heirs of owner and those heirs meet the following criteria: (a) live in the

property, (b) earn no more than the maximum percentage AMI funding activity at time of transfer,

and (c) execute appropriate documents as required by Miami-Dade County.

• One-time assessment per unit owner

• The rehabilitation funds will be payable to the Condominium Association

• The Condominium Budget and Condo Questionnaire will be required and reviewed

Page 28 of 38 Revised 01/18/2024

• Mortgage payments and HOA/Maintenance fees must be current

• A description of the work to be done and or the Scope of Work will be required to determine the

loan assistance

• Semi-annual reports from the Condominium Association will be required

Surtax and Ship Rehabilitation - Single-Family Funded Programs

A rehabilitation loan may be made to an eligible applicant for the purpose of fully bringing the

property up to current building code and/or to make the home barrier-free for disabled persons. It

is used to repair roofs, perform other structural, electrical or sanitation related repairs.

• Surtax Rehabilitation Loan Program

The maximum total loan amount shall not exceed $40,000.00 (up to $50,000.00 if the applicant

is Elderly, Disabled, Development Disabilities, Disabling Condition and Special Needs).

• State Housing Initiatives Partnership (SHIP) Program

The maximum total loan amount shall not exceed $40,000.00 (up to $50,000.00 if the applicant

is Elderly, Disabled, Development Disabilities, Disabling Condition and Special Needs).

Surtax Beautification Loan Program

The Beautification Home Loan Program assists homeowners of single-family detached

residences with exterior home painting and/or landscaping.

• Surtax Beautification Loan Program

The maximum total loan amount is subject to funding availability.

Surtax, Paint and Shutter Loan Program

This program assists low- to moderate- income homeowners with single family detached

residences with exterior home painting and/or the installation of hurricane impact shutters

approved by Miami-Dade County.

• Surtax Paint/Shutter Loan Program

The maximum loan amount for paint and shutters combined is $15,000.00; if the combined

amount exceeds $10,000.00, the homeowner must select paint or shutter assistance.

Eligibility Areas

• Surtax and SHIP Single-Family Rehabilitation Loan Program-

encompasses properties located within Miami-Dade County.

• Surtax Beautification Loan Program

currently encompasses Commission Districts 1 and 2.

• Surtax Paint/Shutter Loan Program

encompasses properties located within Miami-Dade County.

All other Beautification Loan Programs encompass properties located within the Commission

Districts.

Eligible Properties

• Surtax and SHIP - Single-Family Rehabilitation Loan Program

Owner-occupied single-family residences, cluster homes, townhomes,

twin homes, manufactured homes (must evidence a Declaration of Condominium documents

recorded in the Public records disclosing separate folio numbers), condominium unit (except

for common areas). Duplexes, Studios, and Mobile Homes are not allowed.

Page 29 of 38 Revised 01/18/2024

• Properties with a swimming pool are acceptable on a case-by-case basis except for SHIP

funding source. In addition, properties with an efficiency are not allowed regardless of funding

source.

• Surtax Beautification Funded Program only allow Single-Family Detached Properties.

Paint/Shutters Funded Program allows Single-Family Attached, Detached and Condominiums

Properties. Duplexes, Studios and Mobile Homes are not allowed.

• The property must be in need of rehabilitation and may not have any illegal additions and/or

any serious building code violations that exceeds the loan amount to bring up to code.

• Property must be free of any foreclosure actions.

• Property cannot be assessed according to the tax rolls at more than $318,000.00.

• No Tax Deferments.

• Real Estate Taxes must be paid and current.

• If applicable, Association/Maintenance fees must be paid and current.

• If applicable, Mortgage(s) must be paid and current.

• Loan modification must be completed and provide evidence of the last six months of on time

modified mortgage payments.

• Adjustable rate, reverse mortgages, balloon mortgages, owner and privately held mortgages

are not allowed; except that adjustable-rate mortgages are allowed in the Beautification,

Painting and Shutter Loan Programs.

• Lead-Based Paint Inspection required depending on the funding source.

• Environmental Clearance required depending on the funding source.

Applicants for Rehabilitation

• Applicants must be a U.S. Citizen or have current United States Permanent Legal Resident

Status.

• The property must be in Miami-Dade County.

• The applicant must be an individual or family who owns and occupies a single-family residence

and the property must be their primary residence, as evidenced by Homestead Exemption at

time of application. The amount of the homestead exemption must reflect on Miami-Dade

County Property Appraiser Department website.

• Applicant can only apply once for the program per program activity. The maximum number of

rehab loans from Miami-Dade County cannot exceed a total of three (3). However, Surtax

Rehab loans are limited to a one-time only occurrence per family.

• For SHIP funded loans, applicant must not own more than one property, land or any other real

estate; inherited properties with multiple owners owning additional properties will be

determined on a case-by-case basis.

• Eligible Contractors are selected from Community Action & Human Services Department

(CAHSD) Contractor Rotational List. The selection of contractors is completed through a

competitive bid process and awarded to the lowest responsible bidder.

• An applicant must be the legal owner of the property for one year at time of application date;

six months for the Beautification and Paint/Shutter Programs.

Page 30 of 38 Revised 01/18/2024

• Inherited property with multiple owners, life estates, inter-vivos trust or living trust and

beneficiary deed will be reviewed on a case-by-case basis. PHCD has the right to establish

the terms of assistance; assistance may be provided if the owner is low to moderate income

and occupies the property as his or her principal residence; PHCD reserves the right to deny

encumbrances that prevent the county from protecting their interest.

• Title Search or a recent review of Recorded Ownership Information.

• Credit Report is required for all Rehab programs. The County has the right to deny assistance

based on delinquent and/or derogatory information contained in the credit report.

• Recent FPL and Water Bill is required regardless of the funding source.

• Applicants are required to have property insurance coverage or purchase such insurance

coverage after the repairs have been completed. For seniors or very-low-income

homeowners the insurance cost should not exceed the market value of the loan.

• Homeowners insurance is not a requirement for the Beautification and Paint/Shutter Loan

Program or Disaster Funds.

• Flood insurance is required for SURTAX and SHIP Rehab funded programs (properties

defined within the Special Flood Hazard Area).

• Adult(s) residing in the household not receiving income will be required to request a

Verification of Non-Filing of Tax Returns from the Internal Revenue Services.

• For SHIP funded loans, Bankruptcy – four (4) years must have elapsed since the date of the

discharged bankruptcy. The applicant must have re-established credit or chosen not to incur

new obligations. Provide a written explanation that led to the bankruptcy including copies of

the discharge with all pages and schedules. All bankruptcies will be reviewed, and a decision

will be made on a case-by-case basis.

• Active Debt Consolidated Programs are not allowed; all debts must be satisfied prior to loan

application.

• The County reserves the right to deny encumbrances that prevents the County from protecting

their interest.

• Total cash assets cannot exceed $50,000. Retirement accounts for elderly, disabled,

developmental disabilities, disabling condition and special needs applicants are not

considered assets. Liquid Assets is defined as available cash on hand, or in banks or an

instrument that has the capacity to be easily converted to cash. However, for SHIP loans

assets in excess of $5,000 must include the income calculator the greater of (i) the actual

income earned on those assets, or (ii) the income calculation using the current LIBOR rate as

specified by U.S. HUD.

• Applicant must submit all paperwork requested for financing. (See Attachment II)

• The applicant must be low-or-moderate income person or family and the maximum household

income cannot exceed the following chart:

Page 31 of 38 Revised 01/18/2024

INCOME AND MORTGAGE LIMITS

Adjusted for Family Size

Median

FAMILY SIZE

30%

50%

80%

100%

120%

140%

<E LOW

<-V.LOW

$21,700.00

$36,150.00

$57,800.00

$72,300.00

$86,760.00

$101,220.00

$24,800.00

$41,300.00

$66,050.00

$82,600.00

$99,120.00

$115,640.00

$27,900.00

$46,450.00

$74,300.00

$92,900.00

$111,480.00

$130,060.00

$30,950.00

$51,600.00

$82,550.00

$103,200.00

$123,840.00

$144,480.00

$35,140.00

$55,750.00

$89,200.00

$115,500.00

$133,800.00

$156,100.00

$40,280.00

$59,900.00

$95,800.00

$119,800.00

$143,760.00

$167,720.00

$45,420.00

$64,000.00

$102,400.00

$128,000.00

$153,600.00

$179,200.00

$50,560.00

$68,150.00

$109,000.00

$136,300.00

$163,560.00

$190,820.00

MEDIAN INCOME IS $74,700.00 FOR MIAMI-DADE COUNTY)

SHIP/SURTAX limited to 140 % (Subject to periodic revisions by US HUD Effective (May 11

th, 2023

)

(Income and Mortgage Limits REVISED (May 11

, 2023)

Income Inclusions and Exclusions for Eligibility Purposes for SURTAX/SHIP

Annual Income Inclusions

Annual Income Exclusions

Annual income inclusions defined under U.S. HUD 24

C.F.R. Section 5.609(b) are listed as follows:

• The gross amount (before any payroll

deductions) of wages, salaries, overtime pay,

commissions, fees, tips and bonuses, and any

other compensation for personal services

received by all eligible household members;

• the net income from the operation of a business

or profession;

• interest, dividends, and other net income of any

kind from real or personal property;

• the full number of periodic amounts received from

Social Security, annuities, insurance policies,

retirement funds, pensions, disability or death

benefits;

• payment in lieu of earnings, such as

unemployment and disability compensation,

worker’s compensation and severance pay;

• welfare or other need-based payments to families

or individuals that are made under programs

funded separately, or jointly by federal, state or

local governments.

• periodic and determinable allowances, such as

alimony and child support payments, and regular

contributions or gifts received from organizations

or from persons not residing in the dwelling;

• all regular pay, special pay and allowances of a

member of the Armed Forces; and

• SSI income may be subject to federal restrictions

which may limit its use.

Note: Surtax allows for income averaging for the past

two years for applicants that are self-employed, or earn

commission, tips, bonuses, and overtime.

The most common types of excluded annual income

include:

• Income from employment of children (including

foster children) under the age of eighteen (18)

years;

• payments received for the care of foster children or

adults;

• lump-sum additions to family assets, such as

inheritances, insurance payments;

• reimbursement for the cost of medical expenses for

any family member;

• income of a live-in aide;

• the full amount of student financial assistance paid

directly to the student or to the educational

institution;

• the special pay to a family member serving in the

Armed Forces who is exposed to hostile fire;

• income from training programs funded by HUD;

• temporary, nonrecurring or sporadic income

(including gifts);

• reparation payments paid by a foreign government

to persons who were persecuted during the Nazi

era;

• income from earnings in excess of $480 for each

full-time student eighteen (18) years or older

(excluding the head of household and spouse);

• adoption assistance payments in excess of $480

per adopted child;

• deferred payments received in a lump sum;

• refunds or rebates for property taxes paid on the

dwelling unit; or services and equipment needed to

keep a developmentally disabled family member at

home.

Page 32 of 38 Revised 01/18/2024

Income Inclusions for Credit Purposes

CREDIT DOCUMENTATION

Surtax

SHIP

Four (4) most recent Paystubs

containing YTD information, if

unsatisfactory or unable to provide will

require Verification of Employment

(valid for (3) three months)

Verification of employment (valid for 90 days

from the date received. If the information is

orally updated by the source, the VOE will

remain in effect for an additional 30 days).

Third Party Verification of Employment is

required by SHIP, (Attachment III)

Tax returns and W-2 for the previous

two (2) years or IRS Form 1722 (which

gives the applicant’s income and filing

status may be requested). Returns

must be signed & dated by applicant.

Same as Surtax.

If self-employed year-to-date, profit and

loss statement as of the date of

application.

Same as Surtax.

Three (3) months of bank statements or

bank’s computer printout reflecting a

balance for each month.

Six (6) months of bank statements or

bank’s computer printout reflecting a

balance for each month

Tri-merged credit report (valid for 3

months)

Same as Surtax.

Verification of Assets – Retirement

Account

Same as Surtax.

FUNDING SOURCES

SURTAX Single-Family Rehabilitation Loan Program

General Population: Non-Elderly, Disabled, Development Disabilities, Disabling Condition and

Special Needs:

• If the Total Debt to Income Ratio (TDTI) is less than 50%, repayment and terms shall be as

follows:

- 0.00%-3.00% interest rate amortized for 30 years. First payment is due and payable one

month after completion of rehabilitation. A Certificate of Completion is required.

• If the Applicant’s TDTI is more than 50% repayment and terms shall be as follows:

- 0.00%-3.00% interest rate at a 30-year loan term with a minimum payment of $50.00 per

month. The remaining unpaid balance is due upon Sale, Transfer of Title, Death or

whichever occurs first.

- First payment is due and payable one month after completion of the rehabilitation. A

Certificate of Completion is required.

For Elderly, Disabled, Development Disabilities, Disabling Condition and Special Needs:

- 0.00%-3.00% interest rate at a 30-year loan term with a minimum payment of $50.00 per

month. The remaining unpaid balance is due upon Sale, Transfer of Title, Death or

whichever occurs first.

- First payment is due and payable one month after completion of rehabilitation. A Certificate

of Completion is required.

Page 33 of 38 Revised 01/18/2024

SHIP Single-Family Rehabilitation Loan Program

General Population: Non-elderly, Disabled, Development Disabilities, Disabling Condition and

Special Needs are offered repayment terms dependent upon total debt to income ratio.

Specifically, at ratios exceeding 50%, the mortgage term is 15 years with a $50.00 monthly

payment. The remaining unpaid balance is due upon Sale, Transfer of Title or Death. For applicants

whose total debt to income ratio is no greater than 50%, the loan term will be 15 years fully

amortized at 0.00%-6.00%.

Rehabilitation Loan Terms for Elderly, Disabled, Developmental Disabilities, Disabling

Condition and Special Needs:

For Elderly, Disabled, Developmental Disabilities, Disabling Condition and Special Needs

population, the mortgage term is 15 years with a $50.00 monthly payment. The remaining unpaid

balance is due upon Sale, Transfer of Title or Death.

First payment is due and payable one month after completion of the rehabilitation. A certificate of

completion is required.

The SHIP proceeds repaid to the County will be used by the County for other SHIP assistance. If

the proceeds from the sale are insufficient to repay the outstanding SHIP subsidy, the County will

recapture whatever proceeds are available after the first mortgage from a private lender (if any)

has been repaid.

Surtax Beautification Loan Program

• Deferred loan; the TDTI is not applicable; no monthly payment is required.

• If the owner sells the property, refinances, changes title, ceases to use the home as his

primary residence, the balance of the loan shall become due and payable in full by the owner.

• Upon the death of the owner, the loan shall become due and payable in full unless ownership

of the property passes to the heirs of owner and those heirs meet the following criteria: (a)

live in the property, (b) earn no more than the maximum percentage AMI funding activity at

time of transfer, and (c) execute appropriate documents as required by Miami-Dade County.

Surtax Paint/Shutter Loan Programs

• Paint and/or Shutter – Deferred loan; the TDTI is not applicable; no monthly payment is

required.

• If the owner sells the property, refinances, changes title, ceases to use the home as his/her

primary residence, the balance of the loan shall become due and payable in full by the owner.

The County reserves the right to restructure loan payments.

Page 34 of 38 Revised 01/18/2024

LOAN INTEREST RATES

Surtax Single-Family Rehabilitation Loan Program

The loan interest rate is 0.00%-3.00% for household not exceeding 140% of the AMI.

• If the owner sells the property, refinances, changes title, ceases to use the home as his/her

primary residence, the balance of the loan shall become due and payable in full by the owner.

i. Upon the death of the owner, the loan shall become due and payable in full unless ownership

of the property passes to the heirs of owner and those heirs meet the following criteria: (a)

live in the property, (b) earn no more than the maximum percentage AMI funding activity at

time of transfer, and (c) execute appropriate documents as required by Miami-Dade County.

SHIP Single-Family Rehabilitation Loan Program

The loan interest rate is 0.00%-6.00% for household not exceeding 140% of the AMI.

• If the owner sells the property, refinances, changes title, ceases to use the home as his/her

primary residence, the balance of the loan shall become due and payable in full by the owner.

ii. Upon the death of the owner, the loan shall become due and payable in full unless ownership

of the property passes to the heirs of owner and those heirs meet the following criteria: (a)

live in the property, (b) earn no more than the maximum percentage AMI funding activity at

time of transfer, and c) execute appropriate documents as required by Miami-Dade County.

Surtax Beautification Paint/Shutter Loan Program

The interest rate is 0.00%; household income not to exceed 140% of the AMI.

Security Instruments

• All loans shall be secured by a mortgage or similar security instrument.

• Any mortgage used as security for a loan may not be transferred or assigned by the owner

to another person without the prior written approval by the County.

Security Positions

• The rehabilitation loan may be subordinate to an existing mortgage if adequate equity is

established on the property to be rehabilitated.

LOAN PROCESSING AND APPROVAL

All loans will be processed and underwritten according to the funding activity. All loans shall be

reviewed, approved and denied by the PHCD Department Director or his/her designee. A Work-

Write Up and Contractor/Homeowner Agreement will be required. The County reserves the right

to deny encumbrances that prevent the County from protecting their interest.

SUPPLEMENTS

An additional rehabilitation supplemental loan may be approved by the PHCD Department

Director or his/her designee when, during rehabilitation, work items which were not anticipated

or are necessitated by change in local codes or ordinances, are subsequently required and the

work exceeds the loan amount. The supplemental loan shall not exceed $10,000. However, in

extreme, exceptional and hardship cases this limit may be waived by the PHCD Director or

his/her designee.

Page 35 of 38 Revised 01/18/2024

WAITING LIST

All applications are submitted by homeowners to the Community Action & Human Services

Department (CAHSD) and placed on a waiting list on a first-come, first-served basis. When funds

become available applicants are selected from the top of the waiting list, the waiting list is

maintained by date, the applicant expressing interest in the program. Each time a group of

applications are selected from the waiting list, processing priority will be given to elderly and

disabled applicants.

LOAN SERVICING

All loans will be serviced by the Loan Servicing unit in Public Housing and Community

Development (PHCD). A $100.00 loan servicing set up fee is required and included as part of

the closing costs associated with the loan amount. Loan Fees and Cost are subject to change.

Public Housing and Community Development reserves the right to sell the loan if deemed

feasible by the Department.

LOAN FEES

All loan fees are included as part of the closing costs associated in the loan amount.

EFFECTIVE DATE

These guidelines take effect October 20

, 2023. Any revisions or amendments will modify the

effective date accordingly. Any changes/updates to the program requirements for any funding

source, will be automatically incorporated into these guidelines.

Page 36 of 38 Revised 01/18/2024

Attachment I

REQUIRED DOCUMENTATION

1. Valid Florida Driver’s Licenses or State issued ID card for adults only.

2. Warranty or Quit Claim Deed of property.

3. An Ethics Clearance will be required for Miami-Dade County Employee, including Jackson Health

Trust Employees, appointed or elected County official and immediate family to a Miami-Dade

County employee, appointed or elected County official. The Ethics Clearance will be required

upon receipt of application from CAHSD.

4. Last four pay stubs; current retirement, unemployment compensation, social security award letter,

pensions, if applicable.

5. Third Party Verification.

6. Copy of social security cards of homeowners.

7. Proof of United States Citizenship or current Permanent Legal Residency.

8. Last three (3) or six (6) months bank statements including all pages and schedules or computer

print-out reflecting a balance for each month based on the funding source.

9. Cash Contribution Form (i.e., regular family assistance, alimony, etc.)

10. Mortgage payment must be current and provide copy of mortgage statement; coupons are not

acceptable.

11. Birth Certificate(s) on all household members regardless of age; No Birth Cards accepted.

Passport and US Passport are not accepted in lieu of Birth Certificate(s).

12. Last 2 years Income Tax Returns including W-2’s, all pages and schedules. If Tax Returns reflect

business income, provide current profit or loss statement.

13. SSA -1099 Form.

14. Proof of Hazard Insurance, Flood Insurance (if applicable) not required for the Beautification and

Paint/Shutters loan programs.

15. Utility Bills (light and water bill)

16. Copy of Discharged Bankruptcy including all schedules and pages.

17. INCOME QUALIFICATION.

Annual income is the gross amount of income anticipated to be received by all adults in a family

during the twelve (12) months following the effective date of the income determination.

When calculating income, please note that SHIP funding requires that the anticipated income be

based on present income plus any income to be received in the next twelve (12) months. Once

the income certification is completed by county staff, and executed by the PHCD administrator or

designee, an award letter/commitment letter is issued. The commitment letter is valid for three (3)

months. Surtax allows for income averaging for the past two (2) years for applicants who are self-

employed; earn commission, tips, bonuses, and overtime.

Florida property laws do not legally recognize separation as it relates to property ownership.

Consequently, when an applicant is legally married but does not currently reside with the spouse,

the estranged spouse must sign the mortgage and the subsidy recapture provision, and his or her

income must be counted as part of the annual household income. This always applies in cases of

temporary separation when a spouse does not live in the house due to military service, attendance

in college, offshore work, or other instances where a family member is temporarily residing in

another location.

Page 37 of 38 Revised 01/18/2024

In some situations, it seems clear that the applicant has no plan to reunite with the estranged

spouse and the separation is permanent. The flexible nature of these programs is intended for

local governments to determine the use of funds while ensuring accountability, to make a decision

about a permanent separation and to obtain as many details as possible to document the subsidy

recipient. In cases of permanent separation, the applicant and the estranged spouse maintain

separate residences and file separate tax returns.

The applicant must provide proof of separation by providing copies of the estranged spouse’s IRS

tax returns, driver’s license, legal separation agreement, utility bills, etc. The estranged spouse

does not need to be counted in the household size and his or her income should not be included

in household income.

Page 38 of 38 Revised 01/18/2024

Attachment II

Additional documentation when applicable:

1. Separated spouse to provide evidence of not occupying the subject property.

2. Self-employed individuals to provide current profit or loss statement.

3. Adult dependents to provide evidence of school transcript or employment.

4. Copy of Divorce Decree including all pages and property settlement agreement. Joint

custody: the children live with the parent for fifty percent (50%) of the year; the children

should be included as household members.

5. Child support payments; third party verification of regular cash contribution letter for non-

ordered child support; if the applicant is not receiving court ordered child support, a letter

from the Department of Revenue, Child Support Office is required.

6. Unemployment affidavit.

7. Copy of Death Certificate.

8. Copy of Marriage Certificate.

9. Adoption letter and assistance payments. Court ordered letters of guardianship/adoption will

be required if applicant is not the birth parent of household members.

10. Any applicant seeking assistance, requiring assistance from family members or others must

execute the PHCD authorization form.

11. School records to reflect the residing address of the property.

12. Copies of Life Insurance policies, if applicable.

13. Any other form of verification as required by funding.