Housing Programs
(ALL Program requests are subject to funding availability)

2020 Annual Income Limits Chart

State Housing Initiatives Partnership (SHIP) First Mortgage Loan Program (FMLP) 600 Credit Score
Provide up to $215,000 in direct financial assistance to income eligible individuals/households in the form of a repayable 1st mortgage loan to purchase an eligible single family home. The term of the loan is a 4% interest rate (4.90 APR) for 30 years. A minimum down payment of 2.5% of the purchase price plus the cost of rehabilitation is required from very-low income applicants (30-50%, AMI) and 3.5% is required from low (51-80% AMI) to moderate (81-120% AMI) income applicants.

Purchase Assistance with/without Rehabilitation
Funding will be available to income eligible first-time homebuyers for purchase assistance with or without rehabilitation or new construction. SHIP funds will be used with the goal of expanding homeownership opportunities to the targeted income groups. Assistance can be used for gap financing, lot acquisition; down payment; rehabilitation of the unit to be purchased; and closing cost; and will be based on the financing capacity of the individual homebuyer(s) up to the maximum amount of assistance available for the income group . Permanent first mortgage financing can be provided by PBC, private sector financing institutions, other non-profit agency, or another government entity. SHIP funds will not be utilized for the purchase of mobile homes.

HOME Match
Funds will be used to provide the local required dollar match for the federal HOME program. Under this strategy, the only initiative funded will be purchase assistance for first time homebuyers with very low and low income. Assistance will be based on the financing needs of the individual homebuyer up to the maximum amount of assistance available for the income group. Permanent first mortgage financing is required and provided through private sector financing institutions.

Foreclosure Prevention
Financial assistance is available to very low, low, and moderate income eligible homeowners who are facing foreclosure due to an unexpected loss of household income. Funding will help homeowners avoid foreclosure by paying up to $15,000 in delinquent mortgage payments (PITI), including late fees, attorney’s fees, homeowners’ association payments, special assessments, other foreclosure associated costs, property taxes, and homeowners insurance.

Housing Rehabilitation/Barrier Free
Funding will assist income-eligible owner-occupied applicants (structure of one to four dwelling units) with substantial rehabilitation to correct code violations or incipient items that will become a code violation. Eligible homes requiring rehabilitation will be renovated to meet the County’s applicable building code standards. If the maximum SHIP award combined with other public or private dollars is not sufficient to bring a home up to County’s building code standards, the home will not be eligible for assistance under this Strategy

Emergency Repairs
Funding will provide financial assistance to income-eligible owner-occupied applicants (up to $20,000) to address emergency conditions such as roofing, electrical, plumbing, or structural repairs.

Roof Repairs/Replacement
Funding will provide financial assistance to income-eligible owner-occupied homeowner applicants to exclusively address emergency conditions for roof repair or replacement. This program will also provide financial assistance to eligible occupants-homeowners who are at-risk of homeowners’ insurance policy cancellation or who have received notice of homeowners’ insurance policy non-renewal for their sub-standard/deficient roofs.

Replacement Housing
This strategy will provide financing (up to $215,000) to income eligible homeowners residing in dilapidated structures which are beyond rehabilitation. Eligible uses of funding include, but are not limited to, Demolition of the existing property; Construction cost of a replacement home on the same lot (or) purchase of an existing home; and Relocation costs (includes utility deposits, storage, and moving).

Utility Connection
Provide financial assistance up to $10,000 to very low and low income eligible single family homeowners for payment of service initiation and connection fees for new water and/or sewer service or to pay impact fees charges by local governments for new municipal improvements. A lien is recorded against your property and will remain in place for thirty (5) years or until the total amount is repaid following the sell, lease or transfer of title to the property; or if the home ceases to be your primary residence.

Disaster Mitigation
Financial assistance will be provided to income eligible households following a disaster as declared by Executive Order of the United States, or the Governor of the State of Florida. This strategy will only be implemented in the event of a disaster using any funds that have not yet been encumbered and/or additional disaster using any funds that have not yet been encumbered and/or addition disaster funds issued by the Florida Housing Finance Corporation

Veterans Homeownership & Preservation Program
Funding will provide first and/or mortgage loan assistance to income eligible active duty military personnel and veterans, including eligible surviving spouses of military personnel to acquire a new or existing single family residence or rehabilitate an existing home. Assistance can be used for leveraging with existing veterans housing ownership programs, gap financing, and land acquisition with housing development, down payment assistance, closing costs, and rehabilitation with or without acquisition. Maximum loan amounts are based upon established affordability guidelines. Creditworthiness is based upon DES established underwriting guidelines. Purchase price plus rehabilitation cannot exceed 90% of the U.S. Treasury median sales price.

Developer Assistance Rental Housing
This strategy will provide assistance up to $40,000 to developers and owners of affordable rental housing serving lower income households. Eligible recipients of this assistance shall include owners of 25 units and fewer. These eligible recipients include owner of affordable rental units serving lower income special needs population.

Impact Fee Assistance Program
To be considered under the IFAP, applicants for assistance must provide evidence of site control for the project, infrastructure availability, and appropriate zoning. Applicants approved will receive a Certificate of Award which may be presented to the county’s Impact Fee Coordinator for a credit towards road impact fees. In exchange for the receipt of the Certificate, the project developer must obtain all building permits within one (1) year of BCC approval, complete the construction within four (4) years, and lease the housing units at affordable rents for a period of 15 years.

Home Investment Partnership Program (HOME)
Provides financial assistance to very-low and low income applicants to acquire their first home (acquire includes acquisition, acquisition/rehabilitation and new construction) that will be used as their principal place of residence. Financial assistance will be provided in the form of a mortgage which is due upon sale, transfer or conveyance of the property. If the loan conditions are not violated at the end of 30 years, the loan is forgiven. Funds may be used as gap financing. The sales price in addition to the rehabilitation costs cannot exceed the appraised value of the dwelling.

For more information, contact Mortgage and Housing Investments at 561-233-3600.