Martin County SHIP Purchase Assistance

Martin County SHIP Purchase Assistance is a forgivable loan for homebuyers in Martin County, Florida. Martin County provides up to $103,500 (Low Income) or $83,500 (Moderate Income) in 0% deferred SHIP loan. Forgiven 1/3 every 5 years over 15 years. $90,000 lifetime cap. Online portal at martincountyhousingassistance.com. Funding comes from State.

Martin County SHIP Purchase 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.

Martin 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.

Martin County SHIP Purchase Assistance limits household income to 120% of the area median income, which varies by county and household size. Low Income (≤80% AMI): up to $103,500; Moderate Income (≤120% AMI): up to $83,500. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Martin County SHIP Purchase Assistance can be used for Single Family, Condo, and Townhouse.

Martin County SHIP Purchase Assistance serves homebuyers purchasing in Martin County, Florida.

Applications for Martin 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.