2026 Down Payment Program Snapshot

The four primary paths available to Palm Beach County buyers right now:

FHA: The Most Common Path for Relocating Families

FHA loans at 3.5% down are the workhorse of relocation financing in Palm Beach County. Credit score of 580 or above and documented income — that's the baseline. The program accepts out-of-state income, offer letters from future employers for salaried positions, and non-traditional credit situations that conventional loans won't touch. First-time buyer or not.

The trade-off is mortgage insurance. You'll pay an upfront premium — typically 1.75% of the loan amount, usually rolled into the loan — plus an annual premium in your monthly payment. On a $400,000 loan, that's roughly $200–$250/month added to your base payment. It's the cost of getting in with 3.5% down in a market where entry-level homes in western Palm Beach County start around $350,000.

Who it's built for: Relocating families with solid income, 580+ credit, and limited down payment savings. Also strong for buyers with credit situations conventional underwriting won't accept.

VA: The Strongest Program If You've Served

Veterans, active-duty service members, and surviving spouses who qualify for VA financing have access to the best loan product in this market. Zero down payment. No private mortgage insurance. Competitive interest rates. The VA funding fee replaces PMI — typically 2.15% for first-time use — and it can be financed into the loan.

In Palm Beach County, VA buyers are competitive. Sellers understand the program. Their agents know VA loans close. The old stigma about VA loans being slow or difficult is outdated — a clean VA file with a strong pre-approval letter closes as reliably as any conventional purchase.

After 1,500+ transactions in this market, I'll say it plainly: if you've served and you qualify for VA, use it. There is no better loan product for a primary residence purchase in Palm Beach County.

Who it's built for: Veterans, active-duty service members, and eligible surviving spouses purchasing a primary residence anywhere in Palm Beach County.

USDA: Zero Down in Western Palm Beach County

USDA Rural Development loans allow zero down payment in designated rural areas — and parts of Palm Beach County qualify. As of 2026, Loxahatchee and the Acreage are eligible. Incorporated communities like Royal Palm Beach and Wellington do not qualify due to population thresholds. Always verify the specific property address at the USDA Property Eligibility site before assuming a parcel qualifies — map boundaries update periodically.

Income limits apply. For 2026, the USDA income cap for Palm Beach County is $119,850 for a household of 1–4 people and $158,250 for a household of 5–8 people. The USDA loan limit for Palm Beach County is $400,200 (effective February 2026). The home must be your primary residence. You don't need to be a first-time buyer.

The trade-off: a guarantee fee (1% upfront, 0.35% annual) and geographic restrictions to eligible rural areas. But for buyers targeting Loxahatchee and the Acreage anyway — which is where many Northeast relocators land based on price, lot size, and school access — USDA is worth verifying before you assume you need a down payment.

Who it's built for: Income-eligible buyers targeting western Palm Beach County with no down payment savings and household incomes under the USDA cap.

Palm Beach County SHIP: Up to $100,000 in Assistance

The State Housing Initiatives Partnership program in Palm Beach County offers up to $100,000 in down payment and closing cost assistance for income-eligible first-time buyers. The loan is structured as a 0% interest deferred payment, secured by a recorded mortgage, and forgiven after 30 years — meaning if you stay in the home, you never pay it back.

For 2026, SHIP serves households with incomes up to 140% of Area Median Income — approximately $136,360 for a family of four. The purchase price cap is $568,557. You need a first mortgage pre-approval before applying. You need to complete a HUD-certified homebuyer education course. And "first-time buyer" under this program means you haven't owned a principal residence in the past three years — which means many relocators who sold a home up north and have been renting may qualify.

Critical reality check: SHIP windows open briefly and close fast — sometimes after just 50 applications. The move is to get pre-approved, complete the HUD education course, and have all documents ready before the window opens. Work with a lender who runs SHIP applications regularly.

Who it's built for: Income-eligible first-time buyers (or those who haven't owned in 3+ years) purchasing a primary residence in Palm Beach County under the price cap.

City of West Palm Beach: Up to $100,000

If your target home is within West Palm Beach city limits, the City's First-Time Homebuyers Program provides up to $100,000 in down payment and closing cost assistance for income-eligible buyers. Same "first-time" definition — no ownership in the past three years.

For buyers specifically targeting West Palm Beach neighborhoods — El Cid, Flamingo Park, Northwood, SoSo — this program can be layered with SHIP for a significant combined package. There's also a new Homebuyer Match Pilot Program (launched March 2026) that matches up to $50,000 against a buyer's own contribution of at least $10,000, dollar for dollar.

Who it's built for: Income-eligible buyers purchasing within West Palm Beach city limits who want to stack city and county assistance.