Orange County SHIP Down Payment Assistance Program

Special Alert

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

Maximum Purchase Price

Inquire for Details

Contact Info:

http://www.orangecountyfl.net/ 525 East South Street, Orlando, FL 32801 (407) 836-5150


Borrower and Co-Borrower must be first time home buyers (not have owned a home in the past three years) or meet certain exception criteria. Borrower and Co-Borrower must have the legal right to reside permanently in the U.S. Married but separated individuals may not be eligible for assistance. Any changes to the loan or terms that occur after the Commitment Letter has been issued must be approved. This program is for Orange County residents. Buyers must have established residency over the last 12 consecutive months in Orange, Osceola, Lake, Polk Seminole, Volusia or Brevard Counties. Must occupy property as primary residence. A file may be declined if any of the following, but not limited to, is observed on the credit report during the previous 36 months: Unpaid judgments, liens, collections, charge offs, bankruptcies, foreclosures, short sales, evictions or wage garnishments (must be in repayment status). Third mortgage position is acceptable behind the Florida Housing Finance Corporation or the Orange County Housing Finance Authority. Commitment Letters are generally offered 3 – 4 weeks from the date of application, and an additional 10 days to secure a check. We do not have the ability to wire funds.

Credit Score Requirements

Minimum Credit Score: 620 Middle credit score must be 620 or above for borrower and co-borrower. If a borrower’s credit score cannot be generated due to insufficient credit information, nontraditional credit may be used following FHA guidelines under Mortgagee Letter 2008- 11.

Deferred Payments?

Yes, for 10 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), FHA 203(k), VA, USDA / RD

Homeowners Education Class:


Is Forgivable?

10 year deferred payment loan, 10% forgiven annually


1 County: Orange Program is available countywide in Orange County, FL

Income Limitations:

Yes (including household income) Income limits from HUD 2023 120% AMI guidelines Program’s assistance amount is determined by income categories of 50%, 80% and 120% AMI. (Our program model reflects the highest limit of 120% AMI) Income Limits are supplied by Florida Housing Finance Corporation are are update annually All sources of household income and assets are included in the eligibility, unless specifically excluded by the federal or state statute. Lenders typically review current income and assets. Federal and state regulations require that all household income and asset sources be annualized over the future 12 months. This will include all income and assets anticipated to be received by all persons who currently reside and intend to reside in a DPA Program assisted-unit.

Maximum Assistance

$45,000 The Down Payment Assistance Program provides assistance to qualified first time homebuyers for down payment and closing costs associated with purchasing a home. The amount of assistance provided will be determined based on household income and size. The amount of assistance available is $45,000 for eligible very low-income buyers (50% AMI), $35,000 for low-income buyers (80% AMI), or $20,000 for eligible moderate-income buyers (120% AMI).

Education Requirements Info:

Must attend an approved Homebuyers Educational Seminar. To register, contact one of the following agencies: H.A.N.D.S. of Central Florida 407-447-5686 (OPTION 4) English 407-447-5686 (OPTION 2) Spanish https://www.cflhands.org/home Consumer Credit Counseling Service MD (CCCSMD) 800-642-2227 Housing & Education Alliance 407-955-9036 (Orlando Office) https://www.heausa.org/first-time-home-buyer-classes/

Eligible Property Types:

Single Family Detached Condo Townhome/PUD Modular Home

Income By Household Size:

$1,000 Homebuyer minimum contributions toward purchase is based on income category of applicant: $500 for Very Low and Low Income buyers; $1,000 for Moderate Income buyers. Minimum contribution must not be a gift or loan.

Qualifying Ratios:

Housing Ratio: — Total DTI: Up To 47% Per agency on January 2023: Total DTI limit is now 47% Student Loans deferred for less than 12 months will be included in the DTI ratio.
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