Gilchrist County SHIP Program

Gilchrist County SHIP Program is a deferred second loan for homebuyers in Gilchrist County, Florida. Gilchrist County SHIP provides deferred 0% purchase assistance (cannot exceed 50% of home cost including closing costs). Buyer contribution: Moderate Income = $2,000; Low Income = $1,000; Very Low Income = $0. Administered by SREC. Funding comes from State.

Gilchrist 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.

Gilchrist 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.

Gilchrist 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 Gilchrist County. Assistance cannot exceed 50% of home cost. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

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

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

Applications for Gilchrist 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.