Dwain Beckford, Realtor

Palm Beach County HOME Investment Partnership offers up to $100,000 for First Time Homebuyer Program

9/26/2023 by Dwain Beckford

Palm Beach County has opened up its first-time home buyer program and accepting applications starting October 10th at 8AM. Only fifty applications will be accepted, the application will be available until the end of the month or until 50 applications are submitted. This program offers up to $100,000 for eligible first time home buyers.

If you are a first-time home buyer this program will drastically reduce the amount of funds needed to purchase your home. The program will provide funds towards down payment and closing cost and can be used for home purchases, home purchase with renovation, and new construction homes.

The down payment assistance funds are provided as 0% second silent mortgage in which no monthly payments are required and is forgivable after 30 years of occupancy and ownership of the property.

To be able to submit an application you must meet or have completed the following requested items.

Mandatory Orientation Certificate (Mandatory)

Copy of Pre-Approval Letter from a First Mortgage Lender (Mandatory)

Copy of valid Drivers' License or State Identification for ALL adult household members

Copy of U.S. Birth Certificates or valid U.S. Passport (OR) Naturalization Certificate for all household members. For all Non-U.S. Citizen

household members provide a copy of a valid Permanent Resident Card

Verification of Employment (VOE) completed within 30 days of submission of application (Preferred) (OR) copy of most recent paycheck stub

for ALL working adult household members

If self-employed provide a completed YTD Profit and Loss (P & L) Statement for ALL adult household members or current 1099 Income earner

If an adult student is employed – copy of class schedule

Copy of most recent Social Security, Retirement and/or Disability Award Letter for ALL adult household members

If unemployed, a copy of unemployment benefits statement or a completed Unemployment Affidavit for ALL household members

Wage Earner Statement from Social Security Administration for ALL unemployed adult household members

Court ordered child support documentation and/or proof from Palm Beach County Clerk and Comptroller's Office that there is/are no child

support case(s) or award(s); and ALL appropriate legal documentation for adoption, divorce, battered spouse & restraining order

Completed Verification of Deposit (VOD){Preferred} for ALL accounts (checking, savings, CD, IRA, Investment, Retirement) for ALL

adult household members (OR) Copy of most recent bank statements

Most recent two (2) years of tax returns (signed and dated) as submitted to the IRS and W2s/1099s

If self-employed, provide a current 1099 and three (3) years of most recent signed tax returns as submitted to the IRS

Copy of Homebuyer Education Certificate from a HUD Certified Counseling Agency or Neighborworks America

Completed County's Homebuyer Education Certification of Completion from the Counseling Agency

Completed Non-Profit Fee Schedule from the Counseling Agency

To get income eligibility guidelines, orientation time and dates, and other information please visit the link below. When you are ready to search for a home in the Palm Beach County area please feel free to reach out to me and I will be happy to assist.

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