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Public Affairs
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P.O. Box 1989
West Palm Beach, FL 33402-1989
(561) 355-2754
FAX: (561) 355-3819
http://www.pbcgov.com
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Palm Beach County
Board of County
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Priscilla A. Taylor
Mayor

Paulette Burdick
Vice Mayor

Hal R. Valeche

Shelley Vana

Steven L. Abrams

Mary Lou Berger

Jess R. Santamaria


County Administrator

Robert Weisman



"An equal opportunity
Affirmative Action Employer"


Electronic Press Release

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Mortgage Saver Program for First-Time Homebuyers Continuing

For immediate release: May 16, 2012
Contact: David Brandt, HFA Executive Director (561) 233-3652

The Housing Finance Authority of Palm Beach County (HFA) mortgage credit certificate program can help reduce home-loan financing costs for qualified first-time homebuyers of new or existing homes in Palm Beach County.

This program entitles qualified new homeowners to a dollar-for-dollar federal income tax credit of up to 50 percent of mortgage interest paid each year, not to exceed $2,000 annually, for the life of the mortgage loan, as long as the home remains their principal residence.

This federal income tax savings can increase a homebuyer’s take-home income, allowing them to qualify for a higher loan amount or reduce the annual cost of home ownership through the tax savings.

A loan officer at one of the participating lending institutions can prequalify a homebuyer for a 15- or 30-year fixed-rate mortgage loan and determine if or to what extent the Mortgage Saver Program can provide a benefit.

To date, approximately 50 first-time homebuyers in Palm Beach County have received a mortgage credit certificate with financing of their home purchase provided through a participating lender.

The maximum income limits for qualified homebuyers are $86,760 for one- and two-person households and $101,220 for households of three or more persons. The maximum purchase price of the home cannot exceed $391,153.

For further information on the Mortgage Saver Program and a current list of participating lending institutions, please visit www.ehousing.cc/palmbeach10.htm.

Any lender signing a participation agreement with the HFA can become a participating lender. Lender documents are available at the same website above.

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