First-Time Homebuyer Assistance

SHIP funds are available for first-time homebuyers seeking down payment assistance. If you would like more information, please contact the Tallahassee Lenders' Consortium.

First time home buyers are defined as anyone who has had no ownership in a principal residence during the three-year period ending on the date of purchase of the property. This includes:

• A spouse (if either meets the above test, they are considered first-time homebuyers). 
• A single parent who has only owned a home with a former spouse while married.
• An individual who is a displaced homemaker and has only owned with a spouse.
• An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
• An individual who has only owned a property that was not in compliance with state, local, or model building codes and which cannot be brought into compliance for less than the cost of constructing a permanent structure.

Applicants must complete a homebuyer education program with a HUD-approved counseling agency before closing. Applicants must secure a first mortgage by an approved lender and must be able to contribute $500 towards the down payment or closing costs.

Funds are awarded as a deferred payment, no interest loan secured by a recorded subordinate mortgage and note.

Mobile homes are not eligible for this program.