Flagler County SHIP Down Payment Assistance Program

Special Alert

Maximum Purchase Price


Contact Info:

https://www.flaglercounty.gov/departments/social-services/state-housing-initiatives-partnerships-ship 1000 Belle Terre Blvd, Palm Coast, FL 32164 386-586-2324 ext 3631


Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?


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?

Repayment Terms: Deferred, 0% interest, 15-year loan secured by a note and mortgage. No repayment required as long as the loan is in good standing. Forgiveness: The loan is forgiven at 10% per year beginning in year 6. There is no forgiveness period between year one (1) and year five (5). There will be a reduction of 10% per year for each year of ownership between years six (6) and years fifteen (15).


1 County: Flagler Property must be in Flagler County, FL.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 120% AMI guidelines Program serves income levels: Very low income (50% AMI), Low income (80% AMI) and Moderate income (120% AMI) households with income not to exceed the Flagler County Income Category Chart limits, as published annually by Florida Housing Finance Corporation. Eligibility for the SHIP mortgage includes all income sources from all household members, so it will be different than the guidelines the lender uses for the primary loan. Local governments must spend no less than 60% of all funding for all programs on low income households, of which 30% must be very low income. For this reason, there is often very little funding available for moderate income households. Applicants must qualify through our office prior to receiving an award letter. Note: Our program model will reflect the highest income category eligible

Maximum Assistance

$40,000 Maximum Assistance is based on income levels and financial need of applicant: Very Low (50% AMI) income category = $40,000. Low (80% AMI) income category = $30,000. Moderate (120% AMI) income category = $15,000.

Education Requirements Info:

Applicants must attend a Home Buyer Education workshop provided by a HUD approved housing counseling/education agency. Workshop certificate may be no older than 12 months prior to closing. https://programs.ifas.ufl.edu/fahp/home-buyers/

Eligible Property Types:

Single Family DetachedCondo 1/2 DuplexTownhome/PUD Manufactured HomeMobile Home

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $62,760$69,240$80,640$89,520$96,720$103,920$111,120$118,200 *Income limits as of 05/03/2023

Qualifying Ratios:

Housing Ratio: Up To 33% Total DTI: Up To 40% Debt-to-income (DTI) ratios should not exceed 33/40