Orange County Down Payment Assistance - SHIP

By
Real Estate Broker Owner with LemonTree Realty

As many first time home buyers start to realize now is the time to buy most ask what kind of assistance programs are out there for me. If you read my previous blogs on FHA Loans and Nehemiah Down Payment Assistance you will see just a couple of options.

 

All counties in Central Florida have a SHIP program however most of them run out of money very quickly at the start of the counties fiscial year. October 1 for Seminole County. Currently Volusia County and Orange County are the other two left with funds. While Seminole county will hand out more money Orange County has a nice down payment assistance program.

 

Who Qualifies 

First time home buyers. A person who has not owned a home in 3 years or a displaced homemaker.

 

Income Limits 

 

Household Size        Very Low        Low        Moderate

1                            $20,100     $32,150        $48,200

2                            $22,950     $36,700        $55,080

3                            $25,850     $41,300        $62,040

4                            $28,700     $45,900        $68,880

5                            $31,000     $49,500        $74,400

 

You must have a loan commitment, meaning you are financially able to afford a loan.

The properties new or resale home cannot exceed a $219,000 sales price

Must have fee simple ownership over property.

Assistance is available up to $35,000 depending on financial need. 

 

First steps to finding out more about these programs are to work with a Realtor such as myself who fully understand the ins and outs of SHIP and who can help ensure a smooth deal. If you are ready to purchase a home and think you could benefit from SHIP contact me today. 

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Heather Unger, GRI, NRBA, CLHMS, CDPE, WinDs

RE/MAX Central Realty

www.HeatherTheRealtor.com     (407) 810-6304

Our Team Specializes in Luxury Real Estate, First Time Home Buyers, Short Sales, Bank Owned Real Estate, REO & Foreclosure Properties

Servicing Real Estate Needs in: Lake Mary, Longwood, Winter Springs, Sanford, Altamonte Springs, Oviedo, Orlando, Downtown Orlando, Thornton Park, College Park, Winter Park, Maitland, Windermere, UCF, Lake Nona, Baldwin Park, Apopka, Ocoee & Winter Garden

 

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Location:
Florida Orange County
Groups:
1st Time Buyers
The "young" Real Estate Professional
Posts to Localism
Florida Rain Makers
Central Florida
Tags:
fha loan
nehemiah
ship
down payment assistance
orange county
seminole county
first time home buyers

Comments 3 New Comment

Anonymous #1
Anonymous
Dan

Is orange county currently out of SHIP funds.  I have head they are until Oct. '08.  Can anyone confirm this.  If so what should be the steps to insure I am able to get the funds before they run out again.

June 25, 2008 04:16 PM
Rainer
1,668
Mac McGrath
Keller Williams Realty of Plant City-The McGrath Group

What does the acronym SHIP stand for? I am a commercial agent and have heard it spoken in the residential circles, however, have yet to ask.

Thank You.

July 02, 2008 08:53 PM
Rainmaker
298,489
Heather the Realtor Orlando, Lake Mary
First Time Home Buyers, Bank Owned Homes
LemonTree Realty

State Housing Initiative Partnership

July 02, 2008 08:56 PM
Rainmaker
298,489

Heather the Realtor Orlando, Lake Mary

First Time Home Buyers, Bank Owned Homes
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Additional Information

Heather Unger's blog is for those looking to gather information on Central Florida's Real Estate Market including areas such as Orlando, Lake Mary, Baldwin Park, Lake Nona, Longwood, Seminole County, Winderemere, Winter Park, Thornton Park & College Park.
In her blogs you will find information on how the current and local market is for all types of buyers and sellers from first time home buyers to the luxury real estate market, where to find the next deal in new construction and bank owned properties (REO) or how to get your home sold quickly. Better yet check out her website www.HeatherTheRealtor.com.
Here you can also find her video blog showing her recent appearances on HGTV's House Hunters and other great real estate videos, plus information on local communities and areas.