Palm Beach County officials want to help people become homeowners — offering applicants up to $100,000 through its first-time homebuyer program.
“We’re living in a high-cost county, and we know that the cost of housing is more than what it used to be,” said Jonathan Brown, director of the county’s Housing and Economic Department.
Up to $100,000 would help eligible for people to buy their first home in the county, where they could use it for things such as construction, a down payment and closing costs. The amount awarded depends on household income and size.
“Our board of county commissioners, our county administration have armed us with programs, and it’s up to us as the county to make sure we’re helping the residents, helping our constituents to find housing that’s affordable, that’s safe, that’s decent, and that’s what these programs are spearheading,” Brown said.
Brown says the money is considered a “forgivable loan.” This means applicants must live in the home for a certain number of years. But if they decide to sell before then, they’ll have to pay the money back.
The application is only available to the first 100 people. After that, only 30 people will actually get the money. Brown says that in the past, the money was spoken for within the first 30 minutes of the application-portal opening.
The portal itself opens at noon July 23. The day before, there will an orientation meeting at noon Tuesday, July 22. Details to participate are available at https://discover.pbc.gov/HED.
For additional information, contact the county’s mortgage and housing investments division at 561-233-3600 or 561- 233-3606. Or email [email protected].
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