Polk County SHIP Down Payment Assistance

Polk County SHIP Down Payment Assistance is a deferred second loan for homebuyers in Polk County, Florida. Polk County provides deferred 0% interest SHIP assistance for eligible homebuyers. Excludes city limits of Lakeland and Winter Haven (which have their own programs). Apply through approved lender. Funding comes from State.

Polk County SHIP Down Payment 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.

Polk County SHIP Down Payment 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.

Polk County SHIP Down Payment Assistance limits household income to 120% of the area median income, which varies by county and household size. Income up to 120% AMI for Polk County. Excludes Lakeland and Winter Haven city limits. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Polk County SHIP Down Payment Assistance can be used for Single Family, Condo, and Townhouse.

Polk County SHIP Down Payment Assistance serves homebuyers purchasing in Polk County, Florida.

Applications for Polk County SHIP Down Payment 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.