City of Boynton Beach SHIP Purchase Assistance Program

Administered by: City of Boynton Beach Community Improvement Division · City · Forgivable Loan

Funding status: Active

How much assistance

Up to $100,000 (Forgivable Loan)

Funds are awarded as a 0% interest deferred payment loan secured by a recorded mortgage and note for 15 years. The loan is forgiven at the end of the 15-year term provided the borrower remains in compliance.

Eligibility

  • Income limits: At or below 140% of Area Median Income (AMI). Palm Beach County AMI is $98,300 for a family of four.
  • First-time buyer required: Yes — Must not have owned a principal residence in the past 3 years.
  • Geographic restrictions: Property must be located within the City limits of Boynton Beach.
  • Homebuyer education required: Yes

How to Apply for City of Boynton Beach SHIP Purchase Assistance Program

Step 1: Contact the Boynton Beach Community Improvement Division at (561) 742-6066. Complete a 6-hour HUD-approved first-time homebuyer education class and obtain a certificate. Get pre-approved for a 30-year fixed rate first mortgage from an institutional lender. The property must meet City minimum housing quality standards and pass inspection by the Community Improvement Division.

Visit program website

Notes

Funded through the State Housing Initiatives Partnership (SHIP) Program. Covers acquisition, acquisition/rehabilitation, new construction, down payment and closing costs. First mortgage must be a 30-year fixed rate loan product. Note: For homes in Boynton Beach, you must apply through the city program first before being eligible for Palm Beach County assistance.

Cities Where This Program Is Available