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Polk County SHIP Down Payment Assistance

Polk County, Florida

Last verified
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Income limit

120% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is 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.

Do you have to pay it back?

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.

Who qualifies?

Polk County SHIP Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course

The program excludes

  • Households above 120% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

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.

What kind of home can it be used for?

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

Where does it apply?

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

How do you apply?

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.

  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 buyer can take it to a lender or housing counselor.

Learn this program

Short reads on how it works, in plain language. Free, no sign-up needed to read.

Free course from Hey Prescott

Polk County SHIP Down Payment Assistance, explained

A short, free course on Polk County SHIP Down Payment Assistance: what it is, who it is for, when it is repaid, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

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