Hernando County SHIP Down Payment Assistance Program

Special Alert

Maximum purchase price limits vary depending on whether you are purchasing a new construction vs. existing home. Review program guidelines for relevant details.

Maximum Purchase Price


Contact Info:

https://www.hernandocounty.us/departments/departments-f-m/housing-authority 352-754-4087


Homebuyer education is required for all borrowers on the loan. Obtaining a pre-approval from a mortgage lender first is a mandatory requirement prior to scheduling an appointment to apply for the funding. If our office does not have a pre-approval letter from the applicant’s financial institution, an appointment will not be scheduled.

Credit Score Requirements

Based on 1st mortgage requirements.

Deferred Payments?

Yes, for 30 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?

The loan is forgiven at the end of the 30 year mortgage term as long as the property has remained the homeowner’s primary residence for the full 30 years.


1 County: Hernando Property to be in Hernando County, FL

Income Limitations:

Yes (including household income) Income limits from HUD 2022 80% AMI guidelines Income cannot exceed 80% Area Median Income (AMI). NOTE: Gross annual income is defined as any working member of the household over 18 years of age and any other member of the household receiving other forms of income such as Social Security benefits, pensions, retirement, etc. Anticipated is defined as gross income earned projected for a period of 12 months ahead from the date the Income Certification Form is completed.

Maximum Assistance

$30,000 Eligible individuals and families can receive up to $10,000.00 to put towards their down payment and closing costs for the purchase of a home. For a home being purchased which needs renovations, an individual or family may receive up to an additional $20,000.00 for approved renovation cost.

Education Requirements Info:

The First Time Homebuyers Education Class needs to be scheduled as soon as the applicant(s) are pre-approved with a lender. This is because it is in the best interest of the applicant to learn about mortgage loan processing and to learn tips on what to watch out for before signing real estate contracts. The counselor and speakers at the class provide guidance and information to watch out for so that the applicants do not get taken advantage of. **Note: Obtaining a Class Certificate does not mean that applicant(s) are approved for SHIP funds. Applicant(s) must apply for SHIP funds separately. https://hudgov-answers.force.com/housingcounseling/s/

Eligible Property Types:

Single Family Detached Condo Townhome/PUD

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $48,650$55,600$62,550$69,500$75,100$80,650$86,200$91,750 *Income limits as of 05/31/2023

Qualifying Ratios:

Determined by first mortgage product or lender.
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