Osceola County SHIP Purchase Assistance Program
How much assistance
Up to $100,000 depending on income tier (Very Low at 50% AMI, Low at 80% AMI, Moderate at 120% AMI) (Deferred Loan)
This is a 30-year deferred, 0% interest second mortgage. The loan is never forgiven and must be repaid when the first mortgage is refinanced, the property is sold, short-sold, foreclosed, or the borrower ceases to live in the property as their primary residence.
Eligibility
- Income limits: At or below 120% of Area Median Income (AMI), tiered by Very Low (50% AMI), Low (80% AMI), and Moderate (120% AMI)
- First-time buyer required: Yes — Must be a first-time homebuyer.
- Credit score minimum: 640
- Geographic restrictions: Must purchase a home in Osceola County.
- Homebuyer education required: Yes
How to Apply for Osceola County SHIP Purchase Assistance Program
Step 1: Contact Osceola County Housing and Community Services at (407) 742-8400. Complete the required "A Home of Your Own" homebuyer education class. Get pre-approved through an approved SHIP lender (lender list available on the Osceola County website). Your lender will submit the down payment assistance application on your behalf.
Notes
Funded through the State Housing Initiatives Partnership (SHIP) Program. Assistance covers down payment and closing costs only. The program is administered jointly by Osceola County and the City of St. Cloud.