RESOLUTION FOR CHANGING CERTAIN CONDO LENDING REQUIREMENTS

Board of County Commissioners · 2026-06-02 · resolution

Miami-Dade County adopted a resolution commending the Federal Housing Finance Agency (FHFA) for changing condominium lending requirements in Florida, effective August 3, 2026. Previously, Florida condo buyers required a 25% down payment, unlike the national standard of 10%. This change, advocated by Congressman Byron Donalds and the Miami Association of Realtors, will allow down payments ranging from 3-5%, easing homeownership for low- to moderate-income residents. The County Mayor is directed to partner with the Miami Association of Realtors and other groups to disseminate information about these changes to county employees and the community, and to provide a report within 90 days of the effective date.