This program provides funding to assist eligible first time homebuyers with down payment and closing costs, as well as home repairs necessary to meet minimum housing code.
S.H.I.P. Down Payment Assistance Brochure
You may qualify for up to $7,500 in downpayment and closing cost assistance through the Escambia County Housing Finance Authority. Click here to learn more.
Frequently Asked Questions
How do I Qualify
In order to qualify, you must meet the following criteria:
- Be a first-time home buyer as defined by the applicable program.
- Have successfully completed a SHIP-certified or equivalent Homebuyer Education Class Schedule 2019.pdf prior to closing.
- Be qualified for an affordable first mortgage through a list of lenders.
- Must obtain a home inspection from an approved inspection service.
- Meet other requirements depending on funding source.
What income category does the program serve?
Very Low, Low Income, and Moderate Income depending upon funding availability.
What are the award limits?
Maximum loan is subject to available funding.
What are the terms of the loan?
Funding is provided in the form of a 10 year deferred second mortgage. Mortgage is due on sale, refinance or transfer of property, or satisfaction of term.