BTN News: People living in Miami-Dade County now have a new chance to own a home. This new program helps families with low incomes buy a house at a very low price and with a small down payment. The Dream Homes Lottery, started by Miami-Dade Public Housing and Community Development, is making this possible. This program aims to help many people who thought they could never own a home. Here is what you need to know about applying for this great opportunity.
Affordable Housing Opportunity with Dream Homes Lottery in Miami-Dade
The Dream Homes Lottery is a new program to help people buy affordable homes in Miami-Dade. In this county, the average home price is almost $600,000, which many young families cannot afford. This new program offers two homes located at 15300 SW 296 Street in Miami. Each home has four bedrooms and two bathrooms. One home is 1,813 square feet, and the other is 1,777 square feet. These homes cost $394,000, much less than the average home price in the area.
Important Details and Requirements for the Program
Miami-Dade Public Housing and Community Development announced the Dream Homes Lottery. Commissioner Danielle Cohen Higgins, who represents District 8, talked about how important this program is. She said it shows how the county is working to make Miami-Dade a place where everyone can achieve their dreams. Cohen Higgins pointed out that the county is facing a housing crisis. The federal government has called Miami-Dade a key area in the national housing crisis. This program aims to help by offering more homes to people who need them.
To be part of this lottery, you must meet some requirements. These are:
- A minimum credit score of 580.
- Household income at or below 120% of the area’s median income.
- At least two years of employment or a similar source of income.
- You must use the house as your main home for 20 years.
- A 3% down payment, which is about $11,820.
How to Apply for the Dream Homes Lottery
You can only apply for the Dream Homes Lottery online. The application period is from July 24 to August 7. All applications will go through a random selection process done by a computer. If your application is chosen, you will get a confirmation number.
The selection process is fair and clear. It gives everyone who qualifies an equal chance to buy one of the two homes. While many people may qualify, only two will win the lottery and get the chance to buy a home.
Commitment for Future Homeowners
If you win, you must agree to use the home as your main home for 20 years. This rule helps ensure that the homes go to people who need them and want to stay in the community. These homes are meant to provide long-term benefits and help build a strong community.
Solving the Housing Crisis in Miami-Dade
The Dream Homes Lottery is part of a bigger effort to solve the housing crisis in Miami-Dade. Commissioner Cohen Higgins said that since Miami-Dade is a key area for the national housing crisis, more homes are urgently needed. This program helps by giving people the chance to buy affordable homes.
Final Thoughts
The Dream Homes Lottery is a great opportunity for many people in Miami-Dade who want to own a home. With low prices, small down payments, and a fair selection process, this program can make homeownership possible for two lucky families. If you meet the requirements, don’t miss the chance to apply. You could win and secure your dream home in Miami-Dade. Remember, the application period is from July 24 to August 7, so apply online within this time.
This program is not just about giving homes; it’s about building communities and giving families stability. The Dream Homes Lottery shows how local government can make a big difference in people’s lives by turning dreams into reality, one home at a time.
