Escambia County and the City of Pensacola, Florida jointly participate in the (SHIP) First Time Home Buyers Program. This program is designed to assist low to moderate income families to obtain affordable housing. SHIP funds will provide down payment and closing cost assistance, up to $7,500.00 which is offered in the form of a forgivable loan.
**APPLICANTS MUST MEET ALL THE FINANCIAL INSTITUTES("LENDER")LOCAL, STATE, AND FEDERAL LOAN REQUIRMENT GUIDELINES. THEIR NAMES AND NUMBERS ARE LISTED HERE.
**Applicants for the (SHIP) FIRST TIME HOME BUYERS PROGRAM must allow the local government or its designated representative to verify the gross anticipated household income to determine that the household is qualified as either very low, low, or moderate-income. The gross anticipated income for the next 12-month period of ALL persons in the households must be verified and included on an Income Certification PRIOR to the distribution of SHIP FUNDS.
**Applicants can not have had OWNERSHIP INTEREST in ANY property in the past THREE YEARS.
**Applicants must be a resident or employed in ESCAMBIA COUNTY for at least SIX MONTHS prior to application.
APPLICANTS TOTAL HOUSEHOLD INCOME MUST BE WITHIN THE MAXIMUM INCOME ELIGIBILITY LIMITS:
Family Size=1, Very Low Income=$14,900.00, Low Income=$23,000.00
Family Size=2, Very Low Income=$17,050.00, Low Income=$27,250.00
Family Size=3, Very Low Income=$19,150.00, Low Income=$30,650.00
Family Size=4, Very Low Income=$21,300.00, Low Income=$34,100.00
Family Size=5, Very Low Income=$23,000.00, Low Income=$36,800.00
Family Size=6, Very Low Income=$24,700.00, Low Income=$39,550.00
Family Size=7, Very Low Income=$26,400.00, Low Income=$42,250.00
Family Size=8, Very Low Income=$28,100.00, Low Income=$45,000.00