Down Payment Assistance

First-Time Homebuyer Purchase Assistance Program

             

                                                                                        *CLOSED* 

As of November 13, 2025, all available funds for our Down Payment Assistance Program have been fully allocated.
                                                                         We are no longer accepting new applications at this time.

Please check back for future updates or announcements regarding additional funding opportunities. Thank you for your interest in the City of Tamarac. 

Overview

What is the First-Time Homebuyer Program? The purpose of the Purchase Assistance Program is to assist with the purchase of a home in the City of Tamarac to be used as your primary residence. Funds may be used to assist with down payment and/or closing costs. Each applicant will have their application reviewed for eligibility to ensure that extremely low, very low, low and moderate-income families are served.

✅ Who Qualifies?

Applicants and/or their spouses must meet the following criteria:

  • Applicants must be pre-approved by a lender and under contract with a property in the City of Tamarac to submit a full application in order to be considered for the program
  • Must not currently own a home or have owned a home (house, condo, townhouse, etc.) in the last three (3) years.
  • Must not have defaulted on a mortgage within the last seven (7) years.
  • Exceptions may apply for single parents displaced due to divorce within the last three years (considered case-by-case).
  • Applicants must secure a first mortgage at the maximum amount they qualify for, with a fixed interest rate and no pre-payment penalty.
  • The maximum purchase price allowed is $450,000.
  • Homebuyers must contribute a minimum of 1% of the contract price toward closing.
  • City staff will coordinate with the closing agent.

📊 Income Eligibility

To qualify, your total annual gross household income must not exceed the amounts listed in the chart below.

📈 Income Limits Chart - 2025


Income Limit by Number of persons in Household
Percentage Category
12345678
50% AMI$40,350$46,100$51,850$57,650$62,250$66,900$71,500$76,100
80% AMI$64,550$73,800$83,000$92,200$99,600$107,000$114,350$121,750

            Income limits are subject to change by HUD on an annual basis.

📢 Please note: AMI (Area Median Income) for Broward County: $96,200.


📌 Maximum Purchase Assistance:

✔ $85,000 → If your household income is **50% or less** than AMI.

✔ $75,000 → If your household income is **80% or less** than AMI.

✔ $40,000 → If your household income is **above 80% AMI but at or below 120% AMI**.


Application Process

Step 1: Determine Eligibility

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Refer to Guidelines Above.

Step 2: Complete Pre-Application

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✔ Sign up starting Monday, June 2nd, 2025 at 8 a.m.

✔ Click Here to start your pre-Application.

✔ Applicants will receive an email confirmation upon submittal of pre-application with further instructions.

Please download our Document Checklist for a detailed overview of the required documentation. Applications will be accepted and processed on a first-ready, first-served basis.

Step 3: Submit Documents

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✔ Upon Review of Lender Pre-Approval, Lender 1003 and 1008 and Executed Sales Contract, the City will open the application for document submittal.

Note: Housing Staff reserves the right to request additional supporting documentation to verify program eligibility and ensure the feasibility of the proposed transaction.

🖥️ Application Instructions: Carefully read and complete the correct application on the Neighborly website.

⏳ Processing Time: Processing takes 3-4 weeks, so plan accordingly.

📌 Submission Deadline: Submit all required documents within the given timeframe to avoid application denial.

Step 4: Receive Approval or Denial Letter

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📩 A determination letter (approval or denial) will be sent to you along with any further instructions necessary.

✅ Application processing will continue until funds have been exhausted or the end of the program year, whichever comes first.

Note: Pre-applications are purged each program fiscal year cycle. Applicants who were not assisted need to re-apply for the program.

Important Documents

Loan Conditions and Repayment

Assistance is in the form of a fifteen (15)-year, 0% interest, deferred payment second mortgage. Homebuyers will not be required to make any payments on the loan if they remain in the property for fifteen (15) years.

Help

For More Information contact the Housing Division (954) 597-3549. To be notified for future Open Enrollment dates, the latest housing news and information, please utilize the "Notify Me" feature on the home page and register the topics you would like to receive notices on. It is unlawful to discriminate on the basis of race, creed, color, religion, age, sex, familial status, national origin, or disability.