WEST PALM BEACH — First-time homebuyers could expect up to $100,000 in assistance to get their dream home in one of South Florida’s growing counties.
Palm Beach County’s Department of Housing and Economic Development has announced the availability of State Housing Initiatives Partnership (SHIP) funds for its Purchase Assistance Program.
The program will provide up to $100,000 to help income-eligible first-time homebuyers with costs associated with acquiring their first home, including acquisition, new construction, down payment and closing costs. The home must be used as the applicant’s primary residence.
The online application portal will open at noon May 5 and will close at 11:59 p.m. May 23, or once 100 applications have been submitted. Applications will be processed on a first-submitted, first-qualified, first-served basis, subject to funding availability. All financial assistance will be provided as a deferred loan secured by a recorded mortgage, promissory note, and declaration of restrictions.
Eligible applicants must have a first mortgage loan approval from a lender before applying. They can apply by visiting the Palm Beach County Government website, pbc.gov/HED.
Before submitting an application, applicants may attend one of the virtual pre-application orientations scheduled for April 15, April 22, April 24, April 29, and May 1. For further information, applicants can reach out to the Mortgage and Housing Investments Division at 561-233-3600 or email [email protected].
Source: Palm Beach County offers up to $100,000 for first-time homebuyers
