Potentially Eligible Costs
Depending on the final funding source and written guidelines, assistance may address certain approved transaction or closing expenses. This is not a current promise of coverage.
Home / Closing Cost Assistance
CLOSING COST ASSISTANCE
Closing Cost Assistance for Homebuyers
Sunbeam Community Development Corporation is restarting a closing-cost assistance program for eligible homebuyers in Miami-Dade County and throughout Florida.
Program status: SCDC is preparing to restart closing-cost assistance. Historical materials describe closing-cost assistance, but the restarted program's funding source, eligible costs, maximum award and application requirements will be announced before applications open.
Why Closing Costs Matter
Buying a home involves more than the purchase price and down payment. Buyers may also encounter lender charges, title and settlement expenses, prepaid items, inspections, recording charges and other transaction costs. Which costs are eligible for assistance depends on the funding source and program rules.
What SCDC Is Working Toward
SCDC's renewed homeownership mission includes exploring financial assistance that can help qualified households overcome approved upfront purchase costs. The organization will establish a written list of eligible expenses and documentation requirements before accepting applications.
Costs That May Not Qualify
Some expenses may be excluded by the program, lender, property rules or funding source. Applicants will receive the official eligible-cost list before closing.
What Applicants Should Expect
- Confirm that the program is accepting applications.
- Review the current eligibility and income requirements.
- Provide the required household and financial documentation.
- Submit information about the proposed property and first mortgage.
- Allow time for SCDC's program review and any required third-party verification.
- Receive written information about the approved assistance and closing requirements.
How Other Florida Programs Work
Florida has a range of public and nonprofit homeownership assistance programs. HUD's Florida assistance directory lists county and local programs, including examples of down-payment and closing-cost assistance.
SCDC will publish its own program rules separately rather than suggesting that every household qualifies or that SCDC assistance can be combined automatically with another program.
Preparing Before the Program Opens
- Review your household budget and recurring debt.
- Keep recent income and employment documentation organized.
- Check your credit reports for accuracy.
- Work with an appropriate lender or housing professional regarding mortgage readiness.
- Keep copies of purchase-contract and closing documents when you enter a transaction.