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Franklin County SHIP Program

Franklin County SHIP Program is a deferred second loan for homebuyers in Franklin County, Florida.

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The program asks for

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course
  • A home in Franklin County

It doesn’t cover

  • Households above 120% of area median income
  • Homes outside Franklin County

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

Income limit

120% of Franklin County’s area median income

HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.

$82,300
Area median income, 4-person household (HUD, 2026)
Income limits in Florida

Where it applies

Franklin County’s homes

  • 69.2% single-family
  • 3.4% townhouse
  • 3.6% 2–4 units
  • 7.8% 5+ units
  • 16% mobile & other

A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.

$273,300

Franklin County median home value

33.3%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in Franklin County

How to apply

  1. Take a homebuyer education course

    Required by the program before funds are reserved.

  2. Contact the administering agency to reserve funds

    Funds are reserved with the provider and are subject to availability.

  3. Work with a lender who handles the program

    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.

Free course · 10 minFranklin County SHIP Program, explained

Questions about this program

What is Franklin County SHIP Program?

Franklin County SHIP Program is a deferred second loan for homebuyers in Franklin County, Florida. Franklin County SHIP provides deferred 0% loan for eligible homebuyers in the Apalachicola area. Administered by Apalachee Regional Planning Council. Apply via portal.neighborlysoftware.com/ARPC/Participant. Funding comes from State.

Do you have to pay it back?

Franklin County SHIP Program 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.

Who qualifies?

Franklin County SHIP Program 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. The program lists a minimum credit score of 620. A homebuyer education course is required.

What are the income limits?

Franklin County SHIP Program limits household income to 120% of the area median income, which varies by county and household size. Income up to 120% AMI for Franklin 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.

What kind of home can it be used for?

Franklin County SHIP Program can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Franklin County SHIP Program serves homebuyers purchasing in Franklin County, Florida.

How do you apply?

Applications for Franklin County SHIP Program 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.

Also for Franklin County homebuyers

Whether two programs can be combined is up to each agency. Ask before you apply.

All 85 programs for Franklin County

Program terms are set by the administering agency and can change; confirm on the official site before you apply.