Palm Beach County Launches $100,000 Assistance Program for First-Time Homebuyers

If you're looking to buy your first home in Palm Beach County, there's some good news for you! The county is offering a helping hand with up to $100,000 in assistance for first-time homebuyers.

This generous offer is part of the Purchase Assistance Program from the Department of Housing and Economic Development, made possible through State Housing Initiatives Partnership (SHIP) funds.

This financial boost can be used for several big expenses that come with buying a home. It covers the cost of buying a new home, building one from scratch, the initial down payment, and even the closing costs, which can often add up. However, you must live in the home you buy with this assistance—it has to be your main residence.

Interested? You'll need to act fast. The online application opens at midday on May 5 and closes at 11:59 p.m. on May 23, or as soon as 100 applications are in, whichever comes first.

The county will process applications in the order they receive them, but everything depends on the funds available. If your application goes through, you'll get the financial help in the form of a loan that doesn't need to be paid back right away, secured against your new home.

But before you dive into the application, make sure you've got a mortgage loan approved from a lender. Ready to apply? Head over to the Palm Beach County Government website.

You might also want to pop into one of the virtual orientations before sending off your application. These are happening on April 15, April 22, April 24, April 29, and May 1 via WebEx. You can find the details on the Department of Housing and Economic Development's website.

Need more info? No problem. You can call the Mortgage and Housing Investments Division at (561) 233-3600 or shoot an email to HEDverify@pbc.gov.

And remember, staying informed about local news helps you make the most of opportunities like this. Consider subscribing to newsletters or YouTube channels that keep you up to date on what's happening in your area.

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