Palm Beach County Department of Housing and Economic Development hereby announce the availability of $1,800,000 in the HOME Investment Partnership First-Time Homebuyer Program. Funding will provide financial assistance to extremely low, very low and low-income applicants/households to acquire their first home
(including acquisition, acquisition/rehabilitation, new construction, downpayment and closing costs) that will be used as their principal place of residence.
Forty (40) applications will be available online by visiting
pbcgov.com/HED beginning
Monday, June 20, 2022 or until 40 applications have been submitted. Applications will be accepted on a first submitted, first qualified, first served basis, subject to funding availability.
Maximum Award:
$100,000
Household Size and Income Categories to be Served:
|
Number of Persons in Household |
Extremely Low Income
(30%)
|
Very Low Income
(50%)
|
Low Income
(80%)
|
|
1 |
$19,350 |
$32,200 |
$51,500 |
|
2 |
$22,100 |
$36,800 |
$58,900 |
|
3 |
$24,850 |
$41,400 |
$66,250 |
|
4 |
$27,750 |
$46,000 |
$73,600 |
|
5 |
$32,470 |
$49,700 |
$79,500 |
|
6 |
$37,190 |
$53,400 |
$85,400 |
|
7 |
$41,910 |
$57,050 |
$91,300 |
|
8 |
$46,630 |
$60,750 |
$97,200 |
Program Terms: Funds will be awarded as a 30 year deferred forgivable loan, 0% interest, secured by a recorded mortgage and note.
Additional Information:
- ALL applicants are required to attend a Virtual Mandatory Orientation facilitated by HED, prior to application submittal. Register at
https://survey.alchemer.com/s3/6869720/HED-HOME Applications will not be reviewed if proof of orientation attendance is not provided. Orientation dates are posted on the HED website.
-
REQUIRED DOCUMENTS:
A list of required documents is located HERE. ALL documents must be provided at the time of application - for ALL household members
- Selected properties must be located in the unincorporated area of Palm Beach County. If the property is located in the incorporated areas of Boca Raton, Delray Beach, Boynton Beach, and West Palm Beach, applicants will be required to apply for assistance through the city where the property is located.
Click Here for First Time Homebuyer Application
For additional information, please contact:
Palm Beach County
Department of Housing and Economic Development (HED)
Mortgage and Housing Investments Division
100 Australian Avenue, 5th Floor, West Palm Beach, FL 33406
Telephone: (561) 233-3600 Receptionist or Antoinette (561)233-3606 or Shannon Ellison (561)233-3693
Website:
https://pbcgov.com/HED