State Housing Initiatives Partnership (SHIP) Program

 

State Housing Initiatives Partnership (SHIP) Program

Created in 1992 as part of the William E. Sadowski Affordable Housing Act, The State Housing Initiatives Partnership Program (SHIP) provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing. The program was designed to provide very low, low, and moderate income families with assistance to purchase a home, money to repair or replace a home, as well as other types of housing assistance. This assistance is in the form of a deferred payment loan with 0% interest and no monthly payments. A wait-list may exist for this program. Funding is awarded to income qualified individuals and families on a first qualified, first served basis.

 

For more information on one of the programs described below please contact Okaloosa County Housing Staff

 

Owner Occupied Rehabilitation program provides financial assistance to low-income families for home repairs to alleviate health hazards, life and safety issues and code violations.

Funds have been made available for this program. Application are being accepted now.

Those on the waiting list will be sent an application and necessary documents.

    Qualifications:

  • Must be qualified for assistance by County Housing Staff performing an income certification process
  • Must sign an Agreement with the County, the Contractor and a 2nd Mortgage and Promissory Note for the Loan being granted
  • Applicants may not receive assistance more than twice for the same property
  • Home must be located in Okaloosa County
  • Must be the owner (name on deed) occupant (homestead exemption) of the property for minimum of 3 years prior to receiving assistance
  • Must have a total gross family income that does not exceed 80% of the area median income for Okaloosa County adjusted for family size
  • Property taxes and Mortgage must be current on property
  • Home must be covered by property insurance
  • Other program requirements must be met

FORMS

Applicant Checklist

SHIP Application

Authorization of Release of Information

SSN Waiver

Zero Income

Child Support Affidavit

 

Purchase Assistance is designed to assist low income families with down payment and closing cost assistance for the purchase of a home.

There are currently NO funds available for this program. If you are interested in the program may call or email Housing Staff and be placed on the waiting list.

       Qualifications:

  • Must be qulaified for assistance by County Housing Staff performing an income certification process
  • Applicant must sign an Agreement with the County and a 2nd Mortgage and Promissory Note for the Loan being granted
  • Home must be located in Okaloosa County
  • Must be first time homebuyer
  • Must have a total gross family income that does not exceed 120% of the area median income for Okaloosa County adjusted for family size
  • Must have sufficient income and credit worthiness to pre-qualify for primary financing from a participating lender
  • Home must not exceed purchase price limit set by LHAP
  • Monthly mortgage payments including taxes and insurance must not exceed 30% of the median adjusted monthly gross income of applicant
  • Other program requirements must be met

Disaster Assistance - COVID 19 Rental / Mortgage Assistance                                                                

There are currently NO funds available for this program.

We are not accepting applications for this program any longer. If you need rental or mortgage assistance due to COVID-19 please see the CRF page.