Charlotte County SHIP Down Payment Assistance Program

Loans with a five-year term are forgiven at the end of the fifth year. Loans with a ten-year term are reduced by 25% beginning at the the end of year seven and continues for year eight, nine and ten with no repayment required at the end of year ten. Loans with a fifteen-year term are forgiven at 25% per year beginning at the end of year twelve and continues for year thirteen, fourteen and fifteen with no repayment required at the end of year fifteen. Loans with a twenty-year term are forgiven at 25% per year beginning at the end of year seventeen and continues for year eighteen, nineteen and twenty with no repayment required at the end of year twenty. Loans with a thirty-year term are forgiven at 25% per year beginning at the end of year twenty-seven and continues for year twenty-eight, twenty-nine and thirty with no repayment required at the end of year thirty.