Palm Beach County offers qualified buyers up to $50K toward a new home

What’s happening

Palm Beach County rolled out a homebuyer-assistance program that offers qualified applicants up to $50,000 toward a down payment on a primary-residence purchase within the county. The program is income-restricted and limited in volume — a lottery-style allocation among applicants who meet eligibility.

Why this matters if you’re buying

Down payment assistance programs (DPAs) are one of the most-overlooked tools first-time and moderate-income buyers have. A few things to know about Florida DPAs in general and Palm Beach County’s specifically:

• DPA money is usually structured as a second mortgage, often with deferred payments or forgiveness after a residency period. It is not free cash — read the terms before signing.
• Most programs require homebuyer education. A 6-8 hour HUD-approved course is standard.
• Income caps are absolute. If you earn one dollar over the cap, you typically don’t qualify.
• The funds get committed fast. When Florida DPA programs open, the queue fills in weeks. Have your pre-approval and documents ready before you apply.

If you don’t qualify in Palm Beach County, look at: Florida Housing Finance Corporation, Miami-Dade County’s DPA, Broward County’s HOME program, and individual city programs in Tampa, Orlando, and Jacksonville.

Related FAQs

• Pre-qualified vs pre-approved
• Closing costs in Florida