Orange County Down Payment Assistance - SHIP

As many first time home buyers start to realize now is the time to buy most ask what kind of assistance programs are out there for me. If you read my previous blogs on FHA Loans and Nehemiah Down Payment Assistance you will see just a couple of options.

All counties in Central Florida have a SHIP program however most of them run out of money very quickly at the start of the counties fiscial year. October 1 for Seminole County. Currently Volusia County and Orange County are the other two left with funds. While Seminole county will hand out more money Orange County has a nice down payment assistance program.

Who Qualifies 

First time home buyers. A person who has not owned a home in 3 years or a displaced homemaker.

Income Limits 

Household Size        Very Low        Low        Moderate

1                            $20,100     $32,150        $48,200

2                            $22,950     $36,700        $55,080

3                            $25,850     $41,300        $62,040

4                            $28,700     $45,900        $68,880

5                            $31,000     $49,500        $74,400

You must have a loan commitment, meaning you are financially able to afford a loan.

The properties new or resale home cannot exceed a $219,000 sales price

Must have fee simple ownership over property.

Assistance is available up to $35,000 depending on financial need. 

First steps to finding out more about these programs are to work with a Realtor such as myself who fully understand the ins and outs of SHIP and who can help ensure a smooth deal. If you are ready to purchase a home and think you could benefit from SHIP contact me today.