Home Buyer Resources

Tricks to Finding Affordable Homes in Florida

Homeownership is a goal for many people, but finding an affordable home in Homestead or Miami can be a challenge. But there is a way to find the home you want at a price you can afford: HUD homes and FHA home financing. Here are a few tips to finding the best deal on a home in this area.

a bag with a dollar sign on the side

Pay Just $100 Down

Reach your goal of homeownership faster! If you have FHA financing and are buying a home in Florida, you can buy a home with a down payment of just $100 and save thousands of dollars. Call us at 305-508-7250 for details.

Explore HUD Homes in the Homestead Area

HUD homes — homes owned and sold by the US Department of Housing and Urban Development (HUD) — are a popular type of affordable home in the Homestead and Miami area.

Unlike other foreclosed properties, however, HUD homes were purchased with an FHA loan and were acquired by the federal government, so there is a unique process to find, make an offer on, and buy HUD homes.

We have a lot of information about buying HUD homes, including where to find listings and who to contact to make an offer on a property. 

home buyers sitting on the porch outside their new home in florida

Get an FHA Mortgage Loan

The Federal Housing Administration (FHA) is a division of the US Department of Housing and Urban Development (HUD), and it provides home buyers with affordable methods of home financing in Florida and throughout the United States.

a home buyer holding the keys to his new homeThe Benefits of FHA Financing

Since the Federal Housing Administration insures your mortgage, your lender may be able to offer you a more attractive loan. Benefits of FHA home financing include:

  • easy credit requirements
  • low down payments
  • low closing costs
  • competitive interest rates

Consider These Special Home Buying Discounts

The Federal Housing Administration offers several different types of loans that offer financial assistance for home buyers, including loans that finance the cost of making upgrades to an older home. 

  • For buyers purchasing an older home: Consider the FHA's Limited 203(k) Mortgage, which allows you to finance up to $35,000 to upgrade a home that you have purchased and make it move-in ready. 
  • For first-time home buyers: An FHA loan may offer you a down payment as low as 3.5%. Our First-Time Home Buying Program also lets you save up to 3% on closing costs.
  • For community service members: If you are a law enforcement officer, pre-Kindergarten through 12th grade teacher, firefighter, or emergency medical technician, you can receive up to 50% off the listing price of a home with HUD's Good Neighbor Next Door Sales Program

Other Ways to Find an Affordable Home in Homestead and Miami

If you have any questions about how to find an affordable home in the Homestead and Miami area, or if you want more information about affordable mortgage options and FHA lenders, call us at 305-508-7250. We would be happy to answer your questions.