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 code violations, health hazards and life and safety issues.

There are currently no funds available for this program.

Qualifications:

• Must be a single family home located in Okaloosa County
• Must be the owner occupant of the property
• 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
• Other program requirements must be met

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.

       Qualifications:

• 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 qualify for primary financing for a participating lender.
• Other program requirements must be met