Down Payment Assistance (DPA) is a set amount of money provided to qualified homebuyers to bridge the gap between their maximum mortgage capacity and the sales price of their selected home. The funds can be provided in the form of an unsecured grant or a deferred loan. Homebuyers can use the money to cover their down payment and/or closing costs under most programs. The DPA program can be administered by a local or state housing authority, a non-profit organization, or directly through a lender. Our housing advisors guide you through the process, whether buyers are accessing public funds or those from municipalities.
First-time buyers or individuals/households who have not owned a home for the past three years in the United States are eligible. Most DPA programs are income restricted. For 2019, eligible families were those that did not exceed 120 percent of the Palm Beach County Area Median Household Income (AMI) of $74,300.