A New Palm Beach County Homebuyer Program Is Launching — Here’s What You Should Know

 














You may have seen posts circulating about a new Palm Beach County homebuyer program offering up to $50,000 toward purchasing a home.

Naturally, that headline gets attention.

But like most programs, the details matter. Let’s break down what this program actually is and how it works.


What Is the Program?

Palm Beach County is launching a Homebuyer Match Pilot Program designed to help residents who can afford a mortgage but struggle to save for a down payment.

The program offers a dollar-for-dollar match up to $50,000 that can be used toward:

• Down payment
• Closing costs
• Mortgage rate buy-downs
• Certain property expenses

However, participation in the program is limited.

Only about 30 buyers will be selected through a lottery system due to the high demand expected.


Basic Eligibility Requirements

To qualify, applicants must:

• Live or work in Palm Beach County
• Meet income requirements (roughly $76,000 – $134,000 depending on household size)
• Have not owned a home in the past two years
• Purchase a primary residence within Palm Beach County
• Contribute a minimum amount of their own funds

Applicants will also need to obtain mortgage pre-approval from a lender before moving forward.


The Important Detail Many People Miss

The assistance provided through this program is not a simple grant.

It is structured as a forgivable second mortgage.

That means:

• The funds become a lien against the property
• If the homeowner remains in the property for 15 years, the loan is forgiven
• If the home is sold earlier, repayment may be required from the sale proceeds

Understanding this structure is important when evaluating whether the program is right for you.


Should Buyers Apply?

For some buyers, this program could make homeownership possible sooner.

For others, the limited number of available spots means it’s not something to rely on as a primary strategy.

The best approach is to be prepared — understanding your financing options and your budget before the application window opens.


Final Thoughts

Programs like this can create real opportunities, but they also come with rules, timelines, and limitations.

If you’re considering applying and would like help understanding the process or preparing beforehand, I’m always happy to help.

Real estate decisions are easier when you have the full picture.


Desiree Lancaster, REALTOR®
Keller Williams Reserve
Serving The Palm Beaches

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