A recent announcement from the Department of Housing and Economic Development (HED) heralds the availability of funds to help eligible buyers purchase their first home. These funds are part of the HOME Investments Partnership First-Time Homebuyer Program and aim to support the purchase, construction, and closing costs of a new residence.
The program brims with potential, offering up to $100,000 to assist applicants, who meet the income criteria, in the journey towards homeownership. Starting October 7, at 12:00 p.m., the online application portal will open, and it will remain open until October 31, at 11:59 p.m.—unless the cap of 30 applications is reached prior, according to Palm Beach County's official announcement. Applications will be processed on a first submitted, first qualified, first served basis, hinging on funding availability. This financial assistance takes the form of a deferred loan, secured by legal documents such as a Mortgage, Promissory Note, and Declaration of Restrictions.
Before plunging into the application process, potential applicants can attend a Virtual Pre-Application Orientation. These informative sessions are scheduled for September 27 at 12:00 p.m., October 4 at 4:00 p.m., and finally, October 7 at 10:00 a.m. These sessions are quite crucial as they provide a clear outline of the application process and other pertinent information linked to the homebuying assistance program.
The orientation meetings are accessible online through a WebEx link provided by the County or via phone for those who prefer or require it. Full details, including access information and contact numbers for the Mortgage and Housing Investments Division, are readily available. Individuals like Antoinette Prescott or Rommel Sankhi, can be reached at (561) 233-3606 or (561) 233-3693 respectively, and they're prepared to field inquiries or to offer assistance via the email [email protected]. This concerted effort brings a confluence of information, resources, and assistance to the fore, making the path to homeownership that much more navigable for residents of Palm Beach County.
