Palm Beach Homebuyer Grants
OPPORTUNITY GRANT - Qualified buyers will receive a 30-year fixed rate first mortgage from a participating lender. Eligible loan products include FHA, VA, RD and Freddie Mac HFA Advantage Conventional.
DOWN PAYMENT ASSISTANCE – 3% grant of the Note amount. Must be used for down payment and closing cost assistance. This grant is never repaid.
MAXIMUM INCOME LIMIT – Must include the income of the borrower only.
MAXIMUM SALES PRICE LIMIT – Must include everything paid by the borrower or on the borrowers behalf. $317,646
- Buyers are NOT required to be first time buyers.
- Buyers and their spouses must be able to permanently reside in the US.
- Buyers must live in the property they purchase as their principal residence.
- All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
- Buyers must occupy the property purchased within 60 days of closing.
- Buyers must qualify using the Own a Home Opporunity Grant requirements.
- Buyers must credit qualify for the Own a Home Opportunity Grant first mortgage.