Palm Beach County is getting ready to hand local buyers a serious leg up, rolling out its Homebuyer Match Pilot Program this month with a dollar-for-dollar match on down payments up to $50,000. County officials have lined up virtual pre-application orientations in March and say the online pre-application portal is set to open March 30.
According to local coverage, the pilot will distribute $5 million in phases, with $2 million available in the first round, and county staff plan to use a lottery to pick early participants. WPTV reports that virtual pre-application orientation sessions are scheduled for March 12, 17, 19 and 24 and notes that the county has posted a WebEx link for those meetings. As that outlet points out, interest is already bubbling up in a market where the median single-family home price has pushed past $600,000.
The Palm Beach County Department of Housing and Economic Development describes the initiative as a dollar-for-dollar match of buyer cash up to $50,000 toward an eligible for-sale purchase. The agency’s program page states that the pre-application portal will open March 30 at 12:00 p.m. and close April 20 at 11:59 p.m., and that 30 applicants will be selected from the pre-application pool. For the county’s full program summary and schedule, see the Palm Beach County Department of Housing and Economic Development.
Who qualifies and what the match covers
WPTV reports that the pilot is aimed at households earning roughly 80% to 140% of Area Median Income, and breaks that down as: one-person households at $65,520 to $114,660, two-person at $74,880 to $131,040 and four-person at $93,520 to $163,660. The station adds that approved buyers must put in at least $10,000 of their own money toward the purchase.
County staff cited price caps of $700,000 for single-family homes and $325,000 for townhomes or condos, according to the same report. "I feel it definitely helps people out who want to buy a house here," Sofia Garces told WPTV.
How to apply and where to get help
Before the portal opens, would-be applicants are urged to secure a prequalification letter from a mortgage lender and line up standard documentation so they are not scrambling at the last minute. The county also plans outreach to lenders, realtors and title companies, and lists the Mortgage and Housing Investments Division as the main point of contact for the program.
For program details, contact information and assistance options, applicants are directed to the Homebuyer Match page at the Department of Housing and Economic Development. The county provides in-person office contact and phone numbers for the Mortgage and Housing Investments Division for anyone who needs help pulling together an application.
Program funding and the small print
The Board of County Commissioners approved using $5,000,000 from the Workforce Housing Program trust fund to pay for the pilot. According to board materials, the assistance will come in the form of a recorded second mortgage that is forgiven if the owner meets a 15-year occupancy requirement. If an owner sells before year 15, they may either repay the principal or transfer the lien to a new homestead property, in line with the staff summary presented to commissioners.
There is one small wrinkle in the early rollout numbers. The county webpage refers to 30 applicants selected from pre-applications for Phase 1, while WPTV has reported that Phase 1 would serve 60 people. Applicants are advised to watch the county’s portal and program pages for the final mechanics and timeline, and to consult the Board of County Commissioners materials for more detail on how staff intend to run the pilot.
