The City of Miramar offers the Moderate Income Mortgage Assistance (MIMA) Program to support eligible moderate-income households in purchasing their primary residence within the city. This initiative provides a deferred payment loan of up to 10% of the property’s purchase price, with a maximum of $30,000. The funds can be utilized for down payment assistance, covering closing costs, or reducing the principal amount of the first mortgage.
Key Features of the MIMA Program:
- Loan Amount: Up to 10% of the purchase price, capped at $30,000.
- Loan Type: Deferred payment loan, which may be forgivable if all program conditions are met.
- Eligible Uses: Down payment assistance, closing costs, or principal reduction.
Eligibility Criteria:
- Income Level: Applicants must meet the moderate-income guidelines as defined by the program. Current household income can not exceed $165,000.
- Property Location: The home must be within the City of Miramar.
- Primary Residence: The property must serve as the applicant’s primary residence.
For detailed information on income limits, application procedures, and other requirements, prospective applicants are encouraged to contact Delissa Corbin at [email protected] or 954-883-5328.-. Additional resources and application forms are available on their website.
By participating in the MIMA Program, moderate-income families have the opportunity to achieve homeownership
Visit https://www.miramarfl.gov/Departments/Economic-Development-Housing/Housing/First-time-Homebuyer-Program to learn more about Miramar’s Moderate Income Mortgage Assistance (MIMA) Program and other home buyer programs available to Miramar residents.
