The Miami-Dade County Board of County Commissioners today passed legislation sponsored by Commissioner Natalie Milian Orbis supporting the Federal Housing Finance Agency’s decision to eliminate burdensome condominium lending requirements that disproportionately impacted Florida homebuyers.
Beginning August 3, 2026, qualified condominium buyers in Florida will once again be able to access traditional national lending terms with down payments as low as three to five percent, instead of the previous 25 percent requirement many buyers faced.
“This is a major win for working families and first-time homebuyers in Miami-Dade County,” said Commissioner Natalie Milian Orbis. “For too long, Florida residents faced unfair lending requirements that made homeownership harder to achieve, especially in a community where condominiums make up a large portion of our affordable housing stock. I want to thank Congressman Byron Donalds and the Miami Association of Realtors for fighting to help make these changes happen.”
The resolution also directs the County Mayor’s Office to partner with the Miami Association of Realtors and other real estate organizations to help educate County employees and the community about the new financing opportunities now available to Florida homebuyers.
“At a time when affordability remains one of the biggest challenges facing our community, removing barriers to homeownership matters,” Commissioner Milian Orbis added. “Now we need to make sure residents know these opportunities exist and how they can benefit from them.”