The State Housing Initiatives Partnership (SHIP) provides first-time homebuyers across Florida with down payment and closing cost assistance ranging from $10,000 to $70,000, making affordable homeownership a reality.
Verify Your Florida SHIP Program Eligibility
The Florida State Housing Initiatives Partnership (SHIP) Program helps very low, low, and moderate-income homebuyers across all 67 counties and 55 entitlement cities achieve their dream of owning a home.
It provides zero or low-interest loans for down payments, closing costs, and home repairs, with generous support like up to $45,000 in Pensacola or $70,000 in Miami.
Whether you’re in a big city or a small town, SHIP tailors assistance to local needs, ensuring Floridians statewide can access funds.
The program targets first-time buyers and those within income limits, removing financial barriers to build stronger communities.
The SHIP Program provides clear financial help to make buying a home easier for Florida’s low to moderate-income families.
Down Payment Assistance: Get loans ranging from $10,000 to $70,000 to help cover your down payment.
Closing Cost Support: Receive loans between $10,000 and $70,000 to pay for closing fees.
Zero-Interest Loans: Access loans with 0% interest, only repaid if you sell, rent, or move out.
Home Repair Funding: Secure loans from $5,000 to $15,000 to fix or upgrade your home to meet safety standards.
Homeownership Focus: Benefit from 65% of SHIP funds used for programs to help buyers like you.
Support for Lower Incomes: 60% of funds are set aside for families earning less than half or up to 80% of the typical local income.
The SHIP Program sets clear eligibility rules to help low to moderate-income homebuyers across Florida access financial support.
Income Limits: Your household income must be at or below 50%, 80%, or 140% of your area’s median income, depending on the program.
First-Time Homebuyer: You must not have owned a home in the past three years to qualify.
Residency or Employment: Some areas require you to live or work locally for at least six months.
Credit and Debt: You need a credit score and debt-to-income ratio that meet local program standards, often around 620 or higher.
Homebuyer Education: Complete a required homebuyer education course to prepare for the purchase process.
Primary Residence: The home must be your main place of residence, not a rental or vacation property.
The Florida State Housing Initiatives Partnership (SHIP) Program provides homebuyers with straightforward loan terms designed to support affordable homeownership without financial strain.
Loans typically range from $5,000 to $70,000, covering costs like down payments, closing fees, or home repairs, depending on your local program.
These loans come with 0% interest, meaning you won’t pay extra over time.
Repayment is deferred, so you don’t make monthly payments; you only repay the loan if you sell the home, rent it out, or move out.
In some areas, loans may be forgiven after a set period, such as 5 to 15 years, if you continue living in the home.
All loans must comply with Florida’s building standards (Chapter 553) for any repairs or construction, ensuring your home meets safety requirements.
The Florida State Housing Initiatives Partnership (SHIP) Program helps low to moderate-income homebuyers by offering financial assistance for down payments, closing costs, and home repairs. Available in every Florida county, SHIP makes homeownership more affordable statewide.
To qualify, you typically must be a first-time homebuyer with income below 50%, 80%, or 140% of your area's median income. Some counties also require you to live or work locally for at least six months.
Depending on your location and needs, SHIP loans range from $5,000 to $70,000. This funding can be used for your down payment, closing costs, or even home repair expenses.
Yes, most SHIP programs prioritize first-time buyers—defined as those who haven’t owned a home in the past three years. However, some counties may also help repeat buyers in special circumstances.
You must apply through your local SHIP office. Most applications require income documentation, a completed homebuyer education course, and details about your intended property.
SHIP loans typically come with 0% interest and no monthly payments. You only repay if you sell the home, rent it out, or move before the term ends. Some loans are fully forgiven after 5–15 years of owner occupancy.
Yes, SHIP offers home repair loans ranging from $5,000 to $15,000 to bring your property up to safety and code standards. This can include roofing, plumbing, or accessibility improvements.
Credit requirements vary by county, but many SHIP programs accept credit scores starting around 620. You’ll also need to meet debt-to-income guidelines.
Yes. You must complete a certified homebuyer education course to qualify. These are often offered by your local SHIP agency or the Florida Housing Coalition.
SHIP funds are allocated to all 67 counties and 55 entitlement cities, with a minimum of $350,000 per jurisdiction. At least 60% of funds are reserved for households earning below 50% or 80% of the area median income.
With decades of experience guiding Florida homebuyers, our team brings unmatched expertise and a heartfelt dedication to helping you achieve your dream of owning a home.
We’ve successfully closed billions in loan volume, ensuring thousands of families secure affordable financing through programs like SHIP.
Our floor-to-market knowledge means we understand every detail of the homebuying process, from local SHIP variations to Florida’s housing market trends.
We’re not just experts; we’re your partners, offering personalized support to navigate eligibility, loan terms, and applications with confidence.
Our proven track record and deep commitment to your success make us the trusted choice for your homeownership journey.
