Santa Rosa County SHIP First-Time Homebuyer Program

What is Santa Rosa County SHIP First-Time Homebuyer Program?

Santa Rosa County SHIP First-Time Homebuyer Program is a forgivable loan for homebuyers in Santa Rosa County, Florida.

• Santa Rosa County provides $25,000-$50,000 in SHIP assistance for first-time homebuyers in Milton, Pace, Gulf Breeze area. 50% forgiven at year 5; 20%/year in years 6-10. Monitor for funding cycles (~$947,428 for 2025-26).
• Funding comes from State.

Do you have to pay it back?

Santa Rosa County SHIP First-Time Homebuyer Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, Refinance, and No longer primary within forgiveness period.
• 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?

Santa Rosa County SHIP First-Time Homebuyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Santa Rosa County SHIP First-Time Homebuyer Program limits household income to 120% of the area median income, which varies by county and household size.

• Income up to 120% AMI for Santa Rosa 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?

Santa Rosa County SHIP First-Time Homebuyer Program can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Santa Rosa County SHIP First-Time Homebuyer Program serves buyers purchasing in Santa Rosa County, Florida.

How do you apply?

Applications for Santa Rosa County SHIP First-Time Homebuyer Program 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.