City of Ocala SHIP Purchase Assistance Program

Special Alert

Maximum Purchase Price


Contact Info: 201 SE 3rd Street, 2nf Floor, Ocala, FL 34471 352-629-8231


Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Yes, for 15 years

Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA, USDA / RD

Homeowners Education Class:


Is Forgivable?

Forgiven after 15 years as long as the terms of the loan are in good standing.


Ocala Purchased home must be in the Ocala city limits (Florida).

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2023 80% AMI guidelines Income cannot exceed 80% Area Median Income (AMI).

Maximum Assistance

$40,000 Up to $40,000 in assistance towards down payment and closing costs. NOTE: $1,000 also available for rehabilitation assistance on existing homes.

Education Requirements Info:

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $36,900$42,150$47,400$52,650$56,900$61,100$65,300$69,500 *Income limits as of 06/01/2023

Qualifying Ratios:

Determined by first mortgage product or lender.

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