Glades County SHIP Program
Special Alert
Maximum Purchase Price
$349,525
Contact Info:
Municipality
Limitations
Credit Score Requirements
Based on 1st mortgage requirements.
Deferred Payments?
Yes
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:
Required
Is Forgivable?
Location:
1 County: Glades Property must be in Glades County, FL.
Income Limitations:
Yes, based on Compliance Income (including household income) Income limits from HUD 2022 120% AMI guidelines Uses income ranges up to Moderate Income of 120% AMI.
Maximum Assistance
$20,000 Up to $20,000 in assistance
Education Requirements Info:
Funds are contingent upon the receipt of a Home-buyer education Certificate prior to closing. It is the client’s responsibility to attend a home-buyer workshop and receive a Certificate of Completion before closing. SHIP funds will not be made available if this is not provided to the SHIP office. http://www.myglades.com/
Eligible Property Types:
Single Family Detached Condo Townhome/PUD
Income By Household Size:
HH1HH2HH3HH4HH5HH6HH7HH8 $51,000$58,320$65,640$72,840$78,720$84,600$90,360$96,240 *Income limits as of 05/22/2023
Qualifying Ratios:
Housing Ratio: Up To 33% Total DTI: Up To 40% Property taxes and Insurance must be escrowed as part of mortgage payment. Affordability – PITI expense cannot exceed 33% of the applicant’s gross monthly income without compensating factors. Total debt to income ratio shall not exceed 40% of the applicant’s gross monthly income.
