County Commissioner Explains How Her Program To Help Homebuyers Would Work

A Palm Beach County Commissioner is proposing a new program to help prospective homebuyers.

Marci Woodward tells CBS 12 News that the Homebuyer Match Pilot Program would have the county matching every dollar that a qualified purchaser puts towards a home, up to $50,000.

"I hope that it triggers some homeownership into people who are really close. We have a lot of people just right outside of being able to purchase, and they're doing their best to save. But it's hard to get to that down payment that you need."

The money can be used for things like closing costs or a down payment.

Woodward, one of three Republican Commission members, says the loan would not have to be paid back as long as the borrower stays in the home for at least 15 years.

The County Commission plans to vote on Woodward's proposal during its first regular meeting of the new year on January 6.

The median price of a single-family home in Palm Beach County is above $600,000.