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Lake County SHIP Home Ownership Assistance

Lake County SHIP Home Ownership Assistance is a forgivable loan for homebuyers in Lake 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 completed homebuyer education course
  • A home in Lake County

It doesn’t cover

  • Households above 120% of area median income
  • Homes outside Lake 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 Lake 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.

$97,600
Area median income, 4-person household (HUD, 2026)
Income limits in Florida

Where it applies

Lake County’s homes

  • 67.5% single-family
  • 2.2% townhouse
  • 3.9% 2–4 units
  • 9.5% 5+ units
  • 16.9% mobile & other

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

$318,400

Lake County median home value

22.4%

built before 1980

U.S. Census Bureau, ACS 2024 5-year. More about buying in Lake 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 minLake County SHIP Home Ownership Assistance, explained

Questions about this program

What is Lake County SHIP Home Ownership Assistance?

Lake County SHIP Home Ownership Assistance is a forgivable loan for homebuyers in Lake County, Florida. Lake County provides income-tiered SHIP assistance as a forgivable 0% loan with 15-year compliance period. Up to $5,000 available for eligible minor repairs in addition to DPA. Funding comes from State.

Do you have to pay it back?

Lake County SHIP Home Ownership Assistance is forgiven after 15 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, and No longer primary within 15 years. 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?

Lake County SHIP Home Ownership 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.

What are the income limits?

Lake County SHIP Home Ownership Assistance limits household income to 120% of the area median income, which varies by county and household size. Income up to 120% AMI for Lake 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?

Lake County SHIP Home Ownership Assistance can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Lake County SHIP Home Ownership Assistance serves homebuyers purchasing in Lake County, Florida.

How do you apply?

Applications for Lake County SHIP Home Ownership 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 Lake County homebuyers

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

All 85 programs for Lake County

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