HOME Investment Partnership - First Time Homebuyer Program

ALLOCATION: $4,000,000                                                                              MAXIMUM AWARD: $100,000

HOME INVESTMENT PARTNERSHIP FIRST-TIME HOMEBUYER PROGRAM SUMMARY:  Funding will assist income eligible applicants 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.

Household Size and Income Categories to be Served:

APPLICANT SELECTION CRITERIA: Fifty (50) applications will be available online by visiting the website at pbcgov.com/HED beginning Tuesday, October 10, 2023 at 8:00am.  Applications will be processed on a first submitted, first qualified, first served basis, subject to funding availability.  ​

REQUIRED DOCUMENTS: At the time of application submittal, the following documents must be provided for ALL adult household members:

• Mandatory Orientation Certificate (Mandatory)
• Copy of Pre-Approval Letter from a First Mortgage Lender (Mandatory)
• Copy of valid Drivers' License or State Identification for ALL adult household members
• Copy of U.S. Birth Certificates or valid U.S. Passport (OR) Naturalization Certificate for all household members.  For all Non-U.S. Citizen household members provide a copy of a valid Permanent Resident Card
• Verification of Employment (VOE) completed within 30 days of submission of application (Preferred) (OR) copy of most recent paycheck stub for ALL working adult household members
• If self-employed provide a completed YTD Profit and Loss (P & L) Statement for ALL adult household members or current 1099 Income earner
• If an adult student is employed – copy of class schedule
• Copy of most recent Social Security, Retirement and/or Disability Award Letter for ALL adult household members
• If unemployed, a copy of unemployment benefits statement or a completed Unemployment Affidavit for ALL household members
• Wage Earner Statement from Social Security Administration for ALL unemployed adult household members
• Court ordered child support documentation and/or proof from Palm Beach County Clerk and Comptroller's Office that there is/are no child support case(s) or award(s); and ALL appropriate legal documentation for adoption, divorce, battered spouse & restraining order
• Completed Verification of Deposit (VOD)​{Preferred} for ALL accounts (checking, savings, CD, IRA, Investment, Retirement) for ALL adult household members (OR) Copy of most recent bank statements
• Most recent two (2) years of tax returns (signed and dated) as submitted to the IRS and W2s/1099s
• If self-employed, provide a current 1099 and three (3) years of most recent signed tax returns as submitted to the IRS
• Copy of Homebuyer Education Certificate from a HUD Certified Counseling Agency or Neighborworks America
• Completed County's Homebuyer Education Certification of Completion from the Counseling Agency
• Completed Non-Profit Fee Schedule from the Counseling Agency
  

Additional Information:

• The property's purchase price cannot exceed $568,557
• First Time Homebuyer under the HUD definition: An individual who has no ownership in a principal residence during the 3-year period ending on the date of purchase of the property. This provision is limited to a spouse (if either meets the above test, they are considered first-time homebuyers). A single parent who has only owned with a former spouse while married. An individual who is a displaced homemaker and has only owned with a spouse. An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations. An individual who has only owned a property that was not in compliance with state, local or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.
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• Funds will be awarded as a 0% interest deferred payment loan secured by a recorded Mortgage, Promissory Note and Declaration of Restriction for 30 years.  The loan is forgiven at the end of the 30-year term.
  
• Mandatory Orientation - ALL applicants are required to attend one of the Virtual Mandatory Orientations noted below before submitting an application:
• Tuesday, September 19, 2023 at 10:00am
• Thursday, September 21, 2023 @ 2pm
• Tuesday, September 26, 2023 at 10am
• Thursday, September 28, 2023 @ 2pm
• Tuesday, October 3, 2023 at 10am
• Thursday, October 5, 2023 @ 2pm
• Tuesday, October 10, 2023 at 10am
• Thursday, October 12, 2023 @ 2pm

You do not have to register for this Mandatory Orientation.  Please click on the link below.

The Mandatory Orientation Meeting WebEx link is:

https://pbc-gov.webex.com/pbc-gov/j.php?MTID=m0590f8a5e00bc24c0aa2ef4cef5256a8 [pbc-gov.webex.com]

​(OR) Dial (904)-900-2303 to join by phone

Meeting number (access code) 2319 194 0251 – Password: QQxcQa7Bw23​

​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 Prescott at (561)233-3606​

Website: pbcgov.com/HED​