City of Wellington SHIP Purchase Assistance

City of Wellington SHIP Purchase Assistance is a deferred second loan for homebuyers in Wellington, Florida. Village of Wellington SHIP-funded purchase assistance for eligible first-time homebuyers within village limits. Funding comes from State.

City of Wellington SHIP Purchase Assistance is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Sale, Refinance, and Transfer of Title. 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 Wellington SHIP Purchase Assistance 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 Wellington SHIP Purchase Assistance limits household income to 120% of the area median income, which varies by county and household size. Income up to 120% AMI for Palm Beach 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 Wellington SHIP Purchase Assistance can be used for Single Family, Condo, and Townhouse.

City of Wellington SHIP Purchase Assistance serves homebuyers purchasing in Wellington, Florida.

Applications for City of Wellington SHIP Purchase Assistance 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.