New funds are available for first-time homebuyers in Palm Beach County, officials announced Monday.
Palm Beach County’s Department of Housing and Economic Development (HED) announced the availability of money through the HOME Investment Partnerships Program.
Funding will provide up to $100,000 to assist income-eligible applicants with acquiring their first home. This includes the acquisition, acquisition/rehabilitation, new construction, down payment, and closing costs that will be used as their primary place of residence.
The online application portal will open on Wednesday, Oct. 9, 2024, at noon and close on Thursday, Oct. 31, 2024, at 11:59 p.m. (or until 30 applications have been submitted).
Applications must be submitted online and will be processed on a first submitted, first qualified, first served basis, subject to funding availability.
Palm Beach County officials said all financial assistance will be in the form of a deferred loan secured by a recorded Mortgage, Promissory Note and Declaration of Restrictions.