Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education)

What is Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education)?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) is a deferred second loan for homebuyers in Okaloosa County, Florida.

• Okaloosa County HOPE program provides homebuyer education and counseling combined with deferred 0% purchase assistance for eligible very low and low income first-time homebuyers.
• Funding comes from State.

Do you have to pay it back?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) 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?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) limits household income to 80% of the area median income, which varies by county and household size.

• Income at or below 80% AMI for Okaloosa 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?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) serves buyers purchasing in Okaloosa County, Florida.

How do you apply?

Applications for Okaloosa County - HOPE (Homeownership Opportunities through Partnership and Education) go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 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 buyer can take it to a lender or housing counselor.