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

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 buyer 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 buyers who will live in the home as their primary residence.

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 buyers 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.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

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

3. 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 buyer can take it to a lender or housing counselor.