Emerald Coast Regional Council (ECRC) – Walton County SHIP First Time Homebuyer Program

Special Alert

Assistance amounts vary by income. Review program guidelines to determine assistance eligibility by income level.

Maximum Purchase Price


Contact Info:

https://www.ecrc.org/index.php P.O. Box 11399, Pensacola, FL 32524 850-637-1923


Buyer must be a first-time home buyer. Emerald Coast Regional Council requires a minimum of 30 days to process your completed SHIP application after they receive it. Please plan accordingly when scheduling your closing.

Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Waiting Period: 12 years Affordability Period: 12 years Forgiven Portion: 100%

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

Homeowners Education Class:


Is Forgivable?

Forgiven after 12 years of owner occupancy as primary residence (no annual forgiveness)


1 County: Walton Program is available countywide – Walton County (FL).

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 120% AMI guidelines Program serves 50% AMI, 80% AMI and 120% AMI income limits. Income limits are supplied by Florida Housing Finance Corporation and are adjusted annually.

Maximum Assistance

$20,000 Up to $20,000 in assistance based on income categories: up to $20,000 for 50% AMI income category up to $15,000 for 80% AMI income category up to $10,000 for 120% AMI income category

Education Requirements Info:

Must complete SHIP Homebuyer Education Class https://sfyl.ifas.ufl.edu/osceola/family-and-consumer-sciences/financehousing/ The Homebuyer Education class is valid for one year from date of completion. If you have not purchased your home within that time period, you will need to retake the Homebuyer Education class.

Eligible Property Types:

Single Family Detached

Income By Household Size:

$500 Applicant must provide at least $500 in closing costs

Qualifying Ratios:

Determined by first mortgage product or lender.
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