City of Ocala - Homebuyer Rehabilitation/New Construction

City of Ocala - Homebuyer Rehabilitation/New Construction is a forgivable loan for homebuyers in Ocala, Florida. City of Ocala SHIP new construction and rehabilitation homeownership program providing forgivable loan assistance for eligible low-income buyers within Ocala city limits. Funding comes from State.

City of Ocala - Homebuyer Rehabilitation/New Construction is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Sale, Refinance, and No longer primary within compliance period. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

City of Ocala - Homebuyer Rehabilitation/New Construction is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required.

City of Ocala - Homebuyer Rehabilitation/New Construction limits household income to 80% of the area median income, which varies by county and household size. Income at or below 80% AMI for Marion County. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

City of Ocala - Homebuyer Rehabilitation/New Construction can be used for Single Family. New construction is eligible.

City of Ocala - Homebuyer Rehabilitation/New Construction serves homebuyers purchasing in Ocala, Florida.

Applications for City of Ocala - Homebuyer Rehabilitation/New Construction go through the administering agency, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.