Highlands County SHIP Program – Purchase Assistance with and without Rehabilitation

How it works

Highlands County’s SHIP program provides affordable housing assistance to qualified homebuyers. For purchase assistance, the county can help with the down payment and closing costs for an existing home or a newly constructed home. A newly constructed home must have received a certificate of occupancy within the last twelve months. An existing home can also be purchased, and SHIP may pay for minor repairs along with purchase assistance.

What the money covers

• Down payment assistance
• Closing cost assistance
• Minor repairs when buying an existing home

Amounts and matching

• Assistance is provided as a loan at 0% interest.
• The page does not state a dollar cap for purchase assistance.
• Applicants must make a minimum cash contribution based on income bracket:
  • Extremely Low to Very Low (50% or less of AMI): $500
  • Low (80% of AMI): $1,000
  • Moderate (120% of AMI): $1,200
  • Work Force (120%–140% of AMI): $1,400
• Out-of-pocket expenses paid before closing count toward the applicant’s contribution, including appraisal fees, inspections, and earnest money.

How to apply

• Applications are accepted during the advertised application period.
• The page says applicants must have a pre-qualification letter from the mortgage lender.
• Accepted first mortgage financing includes Conventional, FHA, VA, and USDA loans.
• The mortgage must be a 30-year current-interest fixed-rate loan.
• Applicants must complete a homebuyer education course.
• Documents needed: Purchase Assistance Application

Timing and deadlines

• The county page says Highlands County is not accepting applications for this program at the time the page was crawled.
• The county says notices will be posted if anything changes.