First-Time Homebuyer Programs in Palm Beach County: Up to $100K in Help (2026)

The median single-family home in Palm Beach County hit $675,000 in February 2026, according to the Miami Association of Realtors. Run the math on a conventional 20% down payment and you're looking at $135,000 in cash before you even factor in closing costs, inspections, and flood insurance.

That number knocks a lot of would-be buyers out of the conversation entirely. But here's what most people don't realize: Palm Beach County has some of the most generous first-time homebuyer assistance programs in the state of Florida — and right now, multiple programs are accepting applications simultaneously.

Between the county's SHIP program, the brand-new Homebuyer Match Pilot that just launched this month, the federal HOME program, Florida's Hometown Heroes, and the state HFA loan products, a qualified first-time buyer in Palm Beach County can stack programs to access up to $100,000 in down payment and closing cost assistance. Some of that money is forgivable. Some of it is a dollar-for-dollar match on your own savings. None of it requires repayment as long as you stay in the home.

This guide breaks down every program available to you right now: who qualifies, how much you can get, how to apply, and the mistakes that get people disqualified before they even reach the finish line.

Key Facts at a Glance:

• Biggest program: PBC SHIP provides up to $100,000 as a 0% interest, 30-year deferred loan — forgiven in full if you stay in the home, according to Palm Beach County Housing and Economic Development (HED).
• Newest program: The Homebuyer Match Pilot launched March 2026 with $2 million in Phase I funding. Dollar-for-dollar match up to $50,000, per Palm Beach County HED.
• State program: Florida Hometown Heroes offers up to $35,000 in down payment assistance for qualifying workers, per Florida Housing Finance Corporation (FHFC).
• Median price: Palm Beach County single-family median reached $675,000 in February 2026, according to the Miami Association of Realtors.
• First-time buyer definition: Haven't owned and occupied a primary residence in the past 3 years, per HUD/FHFC guidelines.
• FHA loan limit: Up to $990,150 for single-family homes in Palm Beach County (high-cost area designation), per HUD 2026 loan limits.

Who Counts as a "First-Time Homebuyer" in Florida

Before you look at any program, you need to know if you qualify as a first-time buyer under Florida's definition — because it's more flexible than most people think.

Under HUD and Florida Housing Finance Corporation guidelines, a first-time homebuyer is someone who has not owned and occupied a primary residence in the past three years. That "and" matters. You could technically own a rental property or investment property and still qualify, as long as you haven't lived in a property you own as your primary residence during that three-year window.

A few other groups that qualify under the federal definition, even if they've owned before:

• Single parents who only owned a home jointly with a former spouse while married
• Individuals who only owned a manufactured home not permanently affixed to a foundation
• Veterans and active-duty military (exempt from the first-time requirement under Florida Hometown Heroes, per FHFC)
• Buyers purchasing in a federally designated targeted area

Bottom line: if you've been renting for three-plus years — even if you owned a home before that — you're back in the game.

Program 1: PBC SHIP Purchase Assistance (Up to $100,000)

The State Housing Initiatives Partnership (SHIP) program is the heavyweight. Funded by documentary stamp tax revenue through the State of Florida, SHIP provides up to $100,000 to first-time homebuyers in Palm Beach County for acquisition, down payment, closing costs, or even acquisition combined with rehabilitation, according to Palm Beach County HED.

How the Money Works

SHIP funds come as a 0% interest deferred payment loan, secured by a recorded mortgage, promissory note, and declaration of restrictions. There are no monthly payments. The loan sits quietly behind your first mortgage for 30 years, and if you live in the home as your primary residence for the full term, the entire balance is forgiven, per Palm Beach County HED.

Sell the home, refinance, or stop using it as your primary residence before the 30-year mark, and the remaining balance comes due.

Eligibility Requirements

Palm Beach County's 2025/2026 AMI is approximately $111,800 for a household of four, according to HUD. At 140% AMI, a four-person household earning up to roughly $156,520 can qualify. That covers a significant chunk of the county's workforce — teachers, nurses, mid-career professionals, dual-income households.

The Catch

The purchase price cap of $568,557 is below the county's $675,000 median. That means SHIP won't help you buy the median-priced single-family home — but it absolutely works for condos (median $315,000 in February 2026, per the Miami Association of Realtors), townhomes, and single-family homes in communities like Royal Palm Beach, Greenacres, Lake Worth Beach, and parts of western Boynton Beach and Delray Beach where you can still find homes under that threshold.

Program 2: Homebuyer Match Pilot Program (Up to $50,000) — NEW

This is the one nobody knows about yet. Palm Beach County launched the Homebuyer Match Pilot Program in March 2026 with $2 million allocated for Phase I, according to Palm Beach County HED and CBS12 News.

The concept is straightforward: for every dollar you bring to the table, the county matches it — dollar for dollar — up to $50,000. Bring $10,000 in savings, the county adds $10,000. Bring $50,000, the county matches with $50,000. The funds cover down payment assistance, points buy-down, minor repairs, and closing costs.

How the Lottery Works

This isn't first-come, first-served. Palm Beach County is using a lottery system to select 60 participants for Phase I, according to WFLX and Palm Beach County HED.

Here's the timeline:

You must attend an orientation session before you can submit your pre-application. Miss the orientation, miss the program.

Eligibility Requirements

The $700,000 single-family purchase price cap is significantly more generous than SHIP's $568,557 limit. That's what makes this program special — it reaches closer to the actual median home price in Palm Beach County.

Why This Matters Right Now

The pre-application portal opened today — March 30, 2026. You have until April 20 to get your application in. With only 60 spots in Phase I and $2 million in total funding, this is a program where early awareness is everything. I've already had clients ask about it after the CBS12 story aired, and I expect the lottery to be oversubscribed.

Program 3: HOME Investment Partnership (Up to $100,000)

The HOME program is a federally funded initiative administered by Palm Beach County's Department of Housing and Economic Development. Like SHIP, it provides up to $100,000 for first-time homebuyers — but with tighter income limits and a more competitive application window, per Palm Beach County HED and CBS12 News.

In 2025, the county made $3 million available through HOME and accepted 100 applications between July 23 and August 20, according to CBS12 News. The portal often fills within hours — sometimes minutes.

How the Money Works

Same structure as SHIP: zero-interest deferred loan secured by a second mortgage. No monthly payments. If you occupy the home as your primary residence for the full 30-year term, the loan is forgiven entirely.

Key Difference from SHIP

HOME targets households at or below 80% of AMI — that's roughly $89,440 for a family of four in Palm Beach County based on HUD's 2025/2026 income limits. That's a tighter income window than SHIP's 140% AMI cap, which means fewer households qualify. But for those who do, it's another path to the same $100,000 in assistance.

The 2026 HOME application window hasn't been announced yet. Based on the 2025 cycle, expect it to open mid-summer. Subscribe to Palm Beach County HED announcements at discover.pbc.gov to get notified the moment it goes live.

Program 4: Florida Hometown Heroes (Up to $35,000)

Hometown Heroes is the state-level program that gets the most attention — and for good reason. Funded through the Florida Live Local Act, it provides up to $35,000 in down payment and closing cost assistance as a 0% interest deferred second mortgage, according to Florida Housing Finance Corporation.

How the Money Works

The assistance equals up to 5% of your first mortgage loan amount, with a minimum of $10,000 and a maximum of $35,000, per FHFC. It's a deferred loan — no monthly payments. The balance comes due when you sell, refinance, transfer the deed, or stop occupying the home as your primary residence.

Who Qualifies

Unlike the county programs, Hometown Heroes is occupation-based. You must be employed full-time (35+ hours per week) by a Florida-based employer in an eligible occupation, per FHFC. The list is extensive — hundreds of professions qualify:

• Healthcare: Nurses, physicians, EMTs, hospital staff, assisted living workers
• Education: Teachers, school administrators, support staff (K-12 public, private, charter)
• First responders: Firefighters, paramedics, law enforcement
• Childcare and social services workers
• Skilled trades and public employees
• Active-duty military and veterans (veterans are exempt from the first-time buyer requirement)

Income and Credit Requirements

Funding Status

Hometown Heroes funding is allocated annually by the state and historically runs out fast. As of early 2026, funds were still available from the most recent allocation, per FHFC. But the program operates on a first-come, first-served reservation basis — when the money's gone, it's gone until the next legislative appropriation.

Work with a Hometown Heroes-approved lender. Not every mortgage company participates, and only approved lenders can submit the reservation that locks in your funding.

Program 5: Florida HFA Preferred and HFA Advantage Loans

These are statewide first mortgage products offered through the Florida Housing Finance Corporation with built-in down payment assistance, per FHFC and eHousingPlus.

How the Money Works

The HFA Preferred (Fannie Mae) and HFA Advantage (Freddie Mac) programs offer up to 5% of the loan amount as forgivable down payment assistance. The assistance is structured as a second mortgage that forgives at a rate of 20% per year — after five years, the entire balance is forgiven, per FHFC.

That forgiveness schedule is the fastest of any program on this list. Five years of owner-occupancy and the money is yours, free and clear.

Eligibility

The HFA products also come with reduced mortgage insurance rates compared to standard conventional loans — a savings that adds up to thousands over the life of the loan. Combined with the forgivable DPA, these are some of the most competitive first-time buyer products available in Florida.

Side-by-Side: All Five Programs Compared

Sources: Palm Beach County HED, 2026; Florida Housing Finance Corporation, 2026; CBS12 News, 2026

Step-by-Step: How to Apply

Step 1: Confirm You Qualify as a First-Time Buyer

Check the three-year ownership rule. Pull your records. If you owned and lived in a home as your primary residence any time in the last three years, you don't qualify for most of these programs (exception: Hometown Heroes for veterans).

Step 2: Get Your Finances in Order

Every program requires a first mortgage pre-approval. That means a lender has reviewed your income, credit, assets, and debts and issued a conditional commitment. You can't apply to SHIP, HOME, or Homebuyer Match without it. Minimum credit scores vary — 640 is the floor for most programs.

Step 3: Attend a Homebuyer Education Course

Most Palm Beach County programs require completion of a HUD-approved homebuyer education course. These are offered online and in person through organizations like the Housing Leadership Council of Palm Beach County. Budget 6–8 hours. You'll get a certificate that stays valid for 12–24 months depending on the program.

Step 4: Choose Your Program (or Stack Them)

Some of these programs can be combined. For example, a buyer could use a Hometown Heroes first mortgage with SHIP funds layered on top for additional down payment coverage. Work with a lender who understands the stacking rules — not every combination is allowed, and some programs require specific first mortgage products.

Step 5: Apply During the Window

The Homebuyer Match pre-application portal is open right now (March 30 – April 20, 2026). SHIP accepts applications on a rolling basis when funds are available. HOME opens once annually — typically mid-summer based on the 2025 cycle. Hometown Heroes is first-come, first-served through approved lenders.

Step 6: Close and Occupy

All programs require you to use the home as your primary residence. Investment properties and second homes don't qualify. Occupy within 60 days of closing and maintain it as your primary residence for the forgiveness or deferral period.

Five Mistakes That Get Applicants Disqualified

1. Not getting pre-approved first. Every county program requires a first mortgage pre-approval before you can even submit an application. Walking into HED's office without one wastes everyone's time — including yours.

2. Exceeding the purchase price cap. SHIP maxes out at $568,557. The Homebuyer Match caps single-family at $700,000 and condos at $325,000. If you're shopping above these numbers, the program can't help you.

3. Missing the application window. HOME's 2025 portal accepted 100 applications and filled in minutes, per CBS12 News. The Homebuyer Match lottery closes April 20. These programs don't wait for you.

4. Skipping homebuyer education. The HUD-approved course is a requirement, not a suggestion. No certificate, no funding. Take the course before you need it — not after you find the house.

5. Using a non-participating lender. Hometown Heroes requires an FHFC-approved lender. HFA Preferred and Advantage require lenders enrolled in FHFC's programs. Your regular bank might not participate. Verify lender eligibility before you're three weeks into a contract.

First-Time Homebuyer FAQ: Palm Beach County

How much down payment assistance can I get in Palm Beach County?

The maximum available through a single program is $100,000, offered by both the SHIP Purchase Assistance Program and the HOME Investment Partnership Program, according to Palm Beach County HED. SHIP serves households up to 140% AMI, while HOME targets households at or below 80% AMI. The newest option — the Homebuyer Match Pilot — offers up to $50,000 as a dollar-for-dollar match on your cash contribution. Florida Hometown Heroes adds up to $35,000 statewide, per FHFC.

Can I combine multiple first-time buyer programs?

In some cases, yes. Certain programs allow layering — for example, using a Hometown Heroes first mortgage product with SHIP funds for additional down payment assistance. However, not all combinations are permitted, and stacking rules vary by program. Work with a lender experienced in Palm Beach County DPA programs to determine which combinations apply to your situation. The total assistance cannot exceed what's needed to close the transaction.

What income do I need to qualify for Palm Beach County homebuyer programs?

Income limits vary by program and household size. SHIP allows incomes up to 140% of Area Median Income — roughly $156,520 for a four-person household based on Palm Beach County's AMI of approximately $111,800, per HUD. Hometown Heroes caps at 150% AMI (approximately $167,700 for a family of four). The HOME program has the tightest limit at 80% AMI (approximately $89,440 for a family of four). HFA Preferred and Advantage have county-specific limits set by FHFC.

Is the Homebuyer Match Pilot still accepting applications?

Phase I pre-applications opened March 30, 2026 and close April 20, 2026, according to Palm Beach County HED. The county will randomly select 60 participants via lottery after the application window closes. Attendance at an orientation session is required before submitting a pre-application. Visit discover.pbc.gov or call PBC HED at (561) 233-3600 for orientation schedules.

Do I have to pay back the down payment assistance?

It depends on the program. SHIP and HOME are 0% interest deferred loans forgiven after 30 years of owner-occupancy, per Palm Beach County HED. HFA Preferred and Advantage forgive the DPA at 20% per year over five years. Hometown Heroes is deferred with no forgiveness — the balance comes due when you sell, refinance, or move out, per FHFC. The Homebuyer Match Pilot terms are set by HED for each approved participant.

What to Do Right Now

If you're a first-time buyer in Palm Beach County, the window is open — literally, as of today. The Homebuyer Match Pilot pre-application portal went live March 30, and you have three weeks to get your application in before the April 20 deadline.

Here's your immediate action list:

1. Get pre-approved with a lender who participates in FHFC programs and understands PBC's local DPA options
2. Complete a HUD-approved homebuyer education course — don't wait until you're under contract
3. Submit your Homebuyer Match pre-application before April 20
4. Ask your lender about stacking Hometown Heroes with SHIP or HFA products

I work with first-time buyers in Palm Beach County every week, and the biggest regret I hear is "I didn't know this existed." Now you do. If you want help navigating which programs fit your income, savings, and target neighborhoods — whether that's a condo in downtown West Palm, a townhome in Boynton Beach, or a single-family in Royal Palm Beach — reach out for a free consultation. We'll map out your best path to ownership.

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This article is for informational purposes only and does not constitute legal, financial, or investment advice. For specific guidance, consult a qualified attorney or CPA.

Zachary Vorsteg | Cornerstone Realty
Equal Housing Opportunity