The Miami-Dade Economic Advocacy Trust (MDEAT) has launched Welcome H.O.M.E. (Housing Opportunities Made for Everyone), an initiative aimed at helping eligible Miami-Dade residents purchase newly constructed homes amid rising housing costs.

The program, announced last week, uses a public lottery to establish the order in which qualified applicants can seek to purchase three available homes. MDEAT said the initiative is designed to provide a structured pathway to homeownership through homebuyer support, down payment assistance, flexible financing and community partnerships.

“For too long, the opportunity to build wealth through homeownership has been out of reach for many Miami-Dade families,” said Bill Diggs, executive director of MDEAT, in a press release. “Welcome H.O.M.E. is designed to provide hardworking residents with a pathway to ownership, stability, and long-term financial security.”

MDEAT developed the program in partnership with JL Brown Development Corporation. Eligible applicants must intend to occupy the home as their primary residence, and household income must be below 140% of the Area Median Income. Only one application is permitted per household.

The application period is scheduled for Sept. 1 through Sept. 30, or until 200 qualified applications are received, whichever comes first. Applications must be submitted online; paper applications will not be accepted.

Before applying, prospective homebuyers are encouraged to attend an information session covering the program, application process and steps toward homeownership. An in-person workshop is scheduled for Aug. 20 from 6 to 8 p.m. at JL (Joe) and Enid W. Demps Park, 11350 SW 216 St., Miami. A virtual session will follow Aug. 26 from 6 to 8 p.m.

Under the lottery guidelines, applicants will be ranked from 1 to 10. The top six applicants will then need to qualify to purchase the home. If any of the top three applicants cannot qualify within the specified period, the next applicant on the list will be contacted.

MDEAT said Welcome H.O.M.E. is part of its broader effort to expand affordable homeownership and strengthen communities throughout Miami-Dade County.