Secure up to $50,000 in purchase assistance for down payment, closing costs, and necessary repairs. Funding for Fiscal Year 2026 is limited and available on a first-come, first-qualified basis.
*Verification of eligibility required.
Funded through the Florida State Housing Initiatives Partnership (SHIP), this program provides critical support for homebuyers in Hernando County.
Existing Home Purchase
Up to $30,000 toward down payment and closing costs.
New Construction
Up to $30,000 toward down payment and closing costs.
Purchase + Rehabilitation
Up to $30,000 (DP/Closing) + up to $20,000 for necessary improvements.
Navigating the Hernando County SHIP application process requires specific milestones. Follow this roadmap to secure your funding.
Obtain a primary mortgage pre-approval from a participating lender. This is a mandatory first step before applying for SHIP funds.
Complete a HUD-approved First-Time Homebuyer Education workshop. Certificates are required to finalize your eligibility.
Use our secure online assessment tool to verify your household income matches the 2026 limits for Hernando County.
Once qualified, funds are reserved for your closing. Assistance covers down payment and closing costs to reduce your cash to close.
The Hernando County SHIP program is designed to make homeownership attainable and sustainable. By bridging the gap between your savings and the costs of purchasing, this program offers long-term financial stability.
Keep your emergency fund intact. Use SHIP funds for the heavy lifting of closing costs and down payments.
With up to $50,000 in assistance, you may qualify for homes that better suit your family's needs in the Hernando County market.
Purchase Assistance often results in instant equity, providing a stronger financial foundation from day one.
Common questions about the Hernando County SHIP Program.
The Hernando County SHIP program provides up to $50,000 in down payment and closing cost assistance to eligible first-time homebuyers. Funds are available for existing home purchases, new construction, and purchase-plus-rehabilitation projects for qualified low-to-moderate-income households.
Eligibility requires you to be a first-time homebuyer (no homeownership in the last 3 years), meet 2026 household income limits (Very Low, Low, or Moderate), complete a homebuyer education class, and secure a primary mortgage pre-approval from a participating lender.
Income limits vary by household size and are categorized as Very Low, Low, or Moderate. Applicants must use the program's eligibility assessment tool to verify if their specific household income falls within the allowable ranges for the 2026 fiscal year.
Qualified applicants can receive up to $30,000 for existing home purchases or new construction. For purchase-plus-rehabilitation loans, assistance increases up to $50,000, which includes up to $30,000 for down payment/closing costs and up to $20,000 for necessary repairs.
Repayment terms depend on the specific SHIP award structure, which is often a deferred 0% interest loan. This loan may be forgivable over a set period or repayable upon sale, refinancing, or if the home ceases to be your primary residence.
Generally, SHIP funds prioritize single-family homes, townhomes, and condos. Mobile or manufactured homes may have specific restrictions or require the land to be owned (resident-owned communities). Check with a participating lender for specific property eligibility rules.
The first step is obtaining a mortgage pre-approval from a participating lender. Once pre-approved, you must complete a homebuyer education course. Applications are then processed on a first-come, first-qualified basis while funding is available.
Yes, typically. A "first-time homebuyer" is defined as someone who has not owned a primary residence in the past three years. Displaced homemakers and single parents may also qualify under specific federal exceptions.
Funding is limited for each fiscal year (starting October 1st). Once funds are exhausted, a waiting list may be established, or applicants must wait until the next funding cycle. Applying early in the fiscal year is strongly recommended.
Yes, SHIP funds can often be layered with other down payment assistance programs, such as state bond programs or lender credits. However, you must ensure that your primary lender allows for subordinate financing and that total assistance doesn't exceed program caps.
Purchase Assistance funding is available beginning October 1, 2025, and remains available until funds are exhausted. The program operates strictly on a first-come, first-qualified basis. Do not wait until funds are depleted.
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