Nassau County SHIP Affordable Housing Program

Nassau County SHIP Affordable Housing Program is a forgivable loan for homebuyers in Nassau County, Florida. Nassau County provides up to $102,747 in SHIP assistance (income-based; capped at 30% of purchase price). Forgiven 10% per year over 10 years. Serves Yulee, Fernandina Beach, Hilliard, Callahan areas. Funding comes from State.

Nassau County SHIP Affordable Housing Program is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, Refinance, and No longer primary within 10 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.

Nassau County SHIP Affordable Housing 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.

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

Nassau County SHIP Affordable Housing Program can be used for Single Family, Condo, and Townhouse.

Nassau County SHIP Affordable Housing Program serves homebuyers purchasing in Nassau County, Florida.

Applications for Nassau County SHIP Affordable Housing 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.