Palm Beach County's Department of Housing and Economic Development (HED) has announced a new opportunity for first-time homebuyers through the State Housing Initiatives Partnership (SHIP) Purchase Assistance Program. The program offers up to $100,000 in financial assistance for home purchases, including costs related to acquisition, construction, down payment, and closing costs, as per the Palm Beach County website.
The program will operate as a deferred loan, meaning the funds must be repaid later. Applications will be accepted online from noon on May 5 until 11:59 p.m. on May 23, or until 100 applications are received. Applicants must have First Mortgage Loan approval from a lender before applying.
To help prepare, the HED will offer Virtual Pre-Application Orientations from April 15 to May 1. These sessions will guide applicants through the process. Special accommodations can be made for those needing assistance, and a list of agencies offering application support is available.
For more information, interested individuals can contact Antoinette Prescott or Rommel Sankhi of the Mortgage and Housing Investments Division.
