Aspiring homeowners now have the chance to dream big and potentially win a house in Miami-Dade at an affordable price with a low down payment. "The median home value in Miami-Dade County is close to $600,000, which many young families find unattainable. The Dream Homes Lottery is a commitment to making Miami-Dade a place where everyone can achieve their dreams," said District 8 Commissioner Danielle Cohen Higgins.
Public Housing and Community Development of Miami-Dade County launched the program this week, known as the Dream Homes Lottery. This initiative offers aspiring homeowners the chance to purchase one of two houses located at 15300 SW 296 Street in Miami. The homes feature 4 bedrooms and 2 bathrooms, with areas of 1,813 and 1,777 square feet, respectively, and are valued at $394,000.
The lottery provides qualified applicants the opportunity to secure their dream home through a transparent selection process. Interested individuals can apply online from July 24 to August 7.
Eligibility Requirements
The Miami-Dade County outlined the requirements for eligibility:
- Minimum credit score of 580.
- Family income at or below 120% of the area's median income.
- Employment for at least two years or an equivalent source of income.
- Commitment to using the home as the primary residence for 20 years.
- Availability of a 3% down payment (approximately $11,820).
Applications will be randomly selected through a computer-generated process. Only one application is allowed per person, and falsifying information will lead to disqualification. Only two candidates will win the lottery if they meet all the requirements.
The Miami-Dade Dream Homes Lottery might seem out of reach, but luck can be unpredictable. If you meet the criteria, participate. Don’t miss out on such an opportunity. It’s a viable option for many families seeking stability and affordable housing in Miami-Dade.
Frequently Asked Questions about the Miami-Dade Dream Homes Lottery
Here are some common questions and answers about the Dream Homes Lottery in Miami-Dade, which aims to provide affordable housing options for qualified applicants.
What is the Dream Homes Lottery?
The Dream Homes Lottery is a program launched by Miami-Dade County Public Housing and Community Development to offer affordable homeownership opportunities to qualified applicants.
Who is eligible to apply for the lottery?
Applicants must have a minimum credit score of 580, family income at or below 120% of the area's median income, employment for at least two years or an equivalent income source, commitment to use the home as the primary residence for 20 years, and availability of a 3% down payment.
How can I apply for the Dream Homes Lottery?
Interested individuals can apply online from July 24 to August 7. The applications will be randomly selected through a computerized process.
How many houses are available in the lottery?
There are two houses available in the lottery, each featuring 4 bedrooms and 2 bathrooms, with areas of 1,813 and 1,777 square feet, respectively.