We all know this is a good time to buy a home.

It might be even better if you qualify for a moderate income housing program that puts home buyers into recently rehabbed homes, could provide down payment assistance and aims to stabilize neighborhoods in the process.

More than a dozen South Florida cities — along with Broward and Miami-Dade counties — received millions in funding through a third round of the fed’s Neighborhood Stabilization Program.

Cities and counties will use the funds in a variety of ways to rid communities of foreclosed homes and stabilize neighborhoods.

To read more about the program and find out which cities have them, including contact information, CLICK HERE

The home we profile on CBS 4 News Tonight is a perfect example of what the program aims to do.

It’s a home on Funston Street in Hollywood. The home sat vacant for months. It became a home for squatters and one neighbor told me that more than a dozen lived in the home with pit bulls. It became a problem for the neighborhood.

An organization called BAND — Broward Alliance for Neighborhood Development — purchased the home, spent tens of thousand fixing it up and it’s under contract for $112,000.

A first-time home buyer is looking to make the house her home.

There are other deals available for people in South Florida who fit the criteria.