HANDS of Central Florida - Polk County SHIP Purchase Assistance
HANDS of Central Florida - Polk County SHIP Purchase Assistance is a deferred second loan for homebuyers in Polk County, Florida.
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 Polk County
It doesn’t cover
- Households above 120% of area median income
- Homes outside Polk 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 Polk 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.
Where it applies
Polk County’s homesPolk County’s homes, and the ones this program accepts
- 62% single-familysingle-family
- 3% townhousetownhouse
- 5.7% 2–4 units2–4 units
- 9.3% 5+ unitscondo & apartment buildings (5+ units)
- 20% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$266,500
Polk County median home value
30%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Polk County
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program before funds are reserved.
Contact the administering agency to reserve funds
Funds are reserved with the provider and are subject to availability.
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.
Questions about this program
What is HANDS of Central Florida - Polk County SHIP Purchase Assistance?
HANDS of Central Florida - Polk County SHIP Purchase Assistance is a deferred second loan for homebuyers in Polk County, Florida. HANDS of Central Florida administers Polk County SHIP funds: Very Low Income up to $30,000 DPA + $8,000 closing costs; Moderate Income up to $15,000 + $6,000 closing costs. Funding comes from State.
Do you have to pay it back?
HANDS of Central Florida - Polk County 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.
Who qualifies?
HANDS of Central Florida - Polk County 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. The program lists a minimum credit score of 620. A homebuyer education course is required.
What are the income limits?
HANDS of Central Florida - Polk County SHIP Purchase Assistance limits household income to 120% of the area median income, which varies by county and household size. Very Low Income (≤50% AMI): up to $38,000 total; Moderate Income (≤120% AMI): up to $21,000 total. 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?
HANDS of Central Florida - Polk County SHIP Purchase Assistance can be used for Single Family, Condo, and Townhouse.
Where does it apply?
HANDS of Central Florida - Polk County SHIP Purchase Assistance serves homebuyers purchasing in Polk County, Florida.
How do you apply?
Applications for HANDS of Central Florida - Polk County 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.
Also for Polk County homebuyersOther programs open to Polk County homebuyers
- Polk County SHIP Down Payment AssistanceDeferred
- Florida Hometown HeroesUp to $35,000
- Salute Our Soldiers Military Loan ProgramUp to $35,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 86 programs for Polk CountyProgram terms are set by the administering agency and can change; confirm on the official site before you apply.