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FIFTY (50) APPLICATIONS HAVE BEEN RECEIVED.  THE PROGRAM IS NOW CLOSED.

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NOTICE OF FUNDING AVAILABILITY​

​Palm Beach County Department of Housing and Economic Development hereby announces the availability of approximately $4,000,000 in the State Housing Initiatives Partnership (SHIP) First Mortgage Loan Assistance Program.  

Funding will provide first mortgage loan assistance, at a 4% fixed interest rate, to assist income eligible applicants/households.  

The maximum loan amount is based upon established affordability guidelines and creditworthiness, based upon established underwriting guidelines.  Approved homebuyers will be required to contribute a minimum of 3.5% of the purchase price.  The purchase price cannot exceed $450,000.  

NOTE: Applicants CANNOT own a home at the time of closing on a property to be purchased through this program.

​Click Here for the First Mortgage Assistance Program Presentation

Click Here for the First Mortgage Assistance Program Video

​NOTE: At the time of application submittal, applicants will be required to submit a current (within 30 days) Tri-Merge Credit Report (three bureau report) showing at least a 630 FICO credit score.


Household Size and Eligible Income Categories to be Served:​

Number of Persons in Household

Moderate - 140%

(Less than or Equal to)
1
 $95,480
2 $109,200
3 $122,780
4
 $136,360
5 $147,280
6 $158,200

 

 The application portal will open on Monday, February 5, 2024 at 8:00am, and close on Monday, February 26, 2024 at 11:59pm(or until 50 applications have been submitted).  Eligible applicants can apply online by visiting the website at https://pbcgov.com/HED and will be processed for a six (6) month preliminary approval on a first submitted, first qualified, first served basis.  Funds are limited and will be awarded and disbursed subject to funding availability.  NOTE: Approved applicants will be required to contact designated staff prior to executing a purchase contract to determine if funds are available.

​List of Required Documents​
​​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 (561)233-3606

​PUBLISH Sunday, December 31, 2023 & Wednesday, January 31, 2024​​​​