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City of Delray Beach First-Time Homeownership Program (SHIP)

City of Delray Beach First-Time Homeownership Program (SHIP) is a forgivable loan for homebuyers in Delray Beach, Florida.

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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course
  • A home inside Delray Beach city limits

It doesn’t cover

  • Households above 140% of area median income
  • Homes outside Delray Beach

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

140% of Palm Beach County’s area median income

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

$107,600
Area median income, 4-person household (HUD, 2026)
Income limits in Florida

Where it applies

Delray Beach’s homes

  • 34% single-family
  • 13.2% townhouse
  • 13.2% 2–4 units
  • 38.9% 5+ units
  • 0.6% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$420,300

Delray Beach median home value

42.8%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in Delray Beach

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Free course · 10 minCity of Delray Beach First-Time Homeownership Program (SHIP), explained

Questions about this program

What is City of Delray Beach First-Time Homeownership Program (SHIP)?

City of Delray Beach First-Time Homeownership Program (SHIP) is a forgivable loan for homebuyers in Delray Beach, Florida. City of Delray Beach provides up to $75,000 in forgivable 0% interest SHIP loan assistance for eligible first-time homebuyers within city limits. Funding comes from State.

Do you have to pay it back?

City of Delray Beach First-Time Homeownership Program (SHIP) is forgiven after 15 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, and No longer primary within 10-15 years. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Delray Beach First-Time Homeownership Program (SHIP) is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 620. A homebuyer education course is required.

What are the income limits?

City of Delray Beach First-Time Homeownership Program (SHIP) limits household income to 140% of the area median income, which varies by county and household size. Income up to 140% AMI for Palm Beach County (4-person: $163,660 per 2026 NOFA). Up to $75,000 as 0% deferred/forgivable loan (10- or 15-yr term). Min 2% buyer contribution; 6-hr HUD homebuyer education; housing expense <=40% of gross monthly income; must not have owned a home in last 3 years; within Delray Beach city limits. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

City of Delray Beach First-Time Homeownership Program (SHIP) can be used for Single Family, Condo, and Townhouse.

Where does it apply?

City of Delray Beach First-Time Homeownership Program (SHIP) serves homebuyers purchasing in Delray Beach, Florida.

How do you apply?

Applications for City of Delray Beach First-Time Homeownership Program (SHIP) go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.

Also for Delray Beach homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 95 programs for Delray Beach

Program terms are set by the administering agency and can change; confirm on the official site before you apply.