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| OLCDC Quick Facts: |
| In addition to constructing new
single family housing, the OLCDC acquires and
rehabilitates previously abandoned homes.
Since 1980, the OLCDC has developed the
following single family homes: |
Rehabilitation
Ebony Homes
FMC Homes
Harmony Homes
Opa-locka Terraces
Superior Gardens
Vista Verde |
43 Homes
6 Homes
5 Homes
6 Homes
2 Homes
87 Homes
24 Homes |
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Through OLCDC’s NSP2 affordable housing program, financial assistance is available for the purchase of foreclosed and/or short sale properties located throughout Miami-Dade County that are for sale by the OLCDC.
To be eligible, qualified purchasers must:
- be pre-approved by a first mortgage lender;
- complete a homebuyer education workshop and provide a copy of the certificate of completion;
- be U.S. citizens or permanent residents whose household income does not exceed 120% of the Area’s Median Income as determined by USHUD (see the chart below) for their family size.
*Applications are approved on a first come, first qualified basis. Incomplete applications will not be accepted.
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2012 INCOME LIMITS |
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Family Size |
Extremely Low Income (30%) |
Very Low Income (50%) |
Low Income
(80%) |
Moderate Income
(120%) |
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1 |
$13,800.00 |
$23,000.00 |
$36,750.00 |
$55,100.00 |
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2 |
$15,800.00 |
$26,250.00 |
$42,000.00 |
$63,000.00 |
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3 |
$17,750.00 |
$29,550.00 |
$47,250.00 |
$70,850.00 |
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4 |
$19,700.00 |
$32,800.00 |
$52,500.00 |
$78,700.00 |
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5 |
$21,300.00 |
$35,450.00 |
$56,700.00 |
$85,000.00 |
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6 |
$22,900.00 |
$38,050.00 |
$60,900.00 |
$91,300.00 |
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7 |
$24,450.00 |
$40,700.00 |
$65,100.00 |
$97,600.00 |
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8 |
$26,050.00 |
$43,300.00 |
$69,300.00 |
$103,900.00 |
Copies of the following documents are required to process your application. Original documents will
not be accepted. All copies should be made prior to your appointment.
- Photo ID (unexpired) for applicant and co-applicant
- Marriage Certificate, if applicants are married and have different last names
- Social Security Cards for All Household Members
- Most Recent Federal Income Tax Return (2 most recent for self-employed
applicants) or Transcript from the IRS (household members 18 and older)
- Proof of Income (household members 18 and older)
- Three recent and consecutive pay stubs
- Child Support – court order, divorce decree, or a printout from the agency
ordering the child support
- Alimony/Palimony – divorce decree or court order
- Social security and/or Pension/Retirement statement or benefit award letter
- Self-employment - Profit & Loss Statement for last 2 years and a statement from
your accountant projecting your anticipated net business income for the next twelve months
- Assets (for all household members)
- Bank statements for six consecutive months, showing all pages for all accounts
- Most recent statements for all IRA, 401(K), Retirement/Pension, stocks, bonds, annuities and life insurance
- Proof of the value of additional property owned (land, homes, & boats)
- Proof of Number of Dependants (dependants must be listed on your tax return).
Submit one of the below.
- Birth Certificate on which the parent/applicant’s name is listed
- School Record, which provides the parent/applicant's name and address
- Court ordered letter of guardianship
- Divorce decree
- Letter of Adoption
- Loan Commitment or Pre-Qualification Letter from Lender.
Must include maximum amount of loan and terms (dated within past 60 days).
Upon receipt of a complete application with all required documents, staff will review and make a
determination of eligibility. A formal reply (approval or denial) will be sent to the applicant(s) along with
any further instructions. Once approved, we will provide a list of available homes. Once a contract is
written, all documents listed in the approval letter will be required to complete your application.
To apply for purchase assistance under OLCDC's NSP Homebuyer Assistance Program, click
here.
For more information regarding the NSP Homebuyer Assistance Program, please contact Sharon Williams, Director of Housing and Community Services, at (305) 687-3545 Ext. 243.
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