About This Hallandale Beach Affordable Housing Program
The City of Hallandale Beach offers financial assistance to individuals looking to purchase a new single family home or an existing home, condominium, or townhouse. This financial aid comes in the form of a lump sum of either $25,000 or $50,000, which can be utilized towards the purchase of a lot, construction costs, closing costs, or to lower the mortgage. Preference is given to individuals who work as Police, Fire Fighters, Teachers, or City employees. The assistance is provided as a second mortgage with no interest, and no payments are due as long as the borrower lives in the home.
Highland Park Village is where the program is based, and those interested must first apply and be approved by a financial institution (such as a bank, credit union, or mortgage broker) for any additional funds needed to cover the cost of new construction. The City disburses the assistance once the loan has closed with the lender. The City also possesses several vacant lots which can be purchased at assessed value.
To be eligible for this assistance, applicants must be either employed or retired, possess an acceptable credit score, obtain a first mortgage from a financial institution, and provide a down payment of 3% of the mortgage amount.
How to apply
Public housing is a form of housing tenure in which the property is usually owned by a government
authority, either central or local. The federal Housing and Urban Development (HUD) department
addressed concerns of distressed properties and blighted superblocks with revitalization and funding
projects for the renewal of public housing to decrease its density and allow for tenants with mixed
income levels.
1. Check Your Eligibility Criteria
2. Search For Your Local Housing Authority
3. Fill In And Submit The Application Form
4. Check Your Waiting List Status
5. Move Into An Unit
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