Homebuyer Programs

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BUYER QUALIFICATIONS FOR HOMEBUYER PROGRAM:

  • Must be a first time homebuyer.
  • Have a total gross family income that does not exceed 120% of the area median income for Escambia County adjusted for family size.
  • Have sufficient income and credit-worthiness to qualify for primary financing from a participating lender.
  • Must attend a free 8 hour HUD certified homebuyer education class offered by CEII (850-595-6234) or Consumer Credit Counseling Services (850-434-0268) prior to closing.

SHIP DOWN PAYMENT/ CLOSING COST ASSISTANCE

Escambia County and the City of Pensacola jointly administer the State Housing Initiatives Partnership (SHIP) program. This program provides first-time homebuyers loans of up to $7,500 for low and very low-income borrowers for Down Payment and Closing Cost assistance. Assistance is provided in the form of a 5 year forgivable grant, provided that the buyer does not sell, rent, or transfer within that time frame. Maximum sales price is $189,000 and homes cannot be new construction. Funding is available on a first come, first served basis. For more information, call (850) 858-0350.