SHIP First-Time Homebuyer Program
Escambia County and the city of Pensacola jointly administer the State Housing Initiatives Partnership, or SHIP, program. This program provides first-time homebuyers loans of up to $7,500 for income eligible borrowers for down payment and closing cost assistance. Assistance is provided in the form of a five-year forgivable loan, provided that the buyer does not sell, rent, or transfer within that time frame and retains the property as principal residence. Maximum sales price is $189,000. Funding is available on a first qualified, first served basis. For more information, call 850-858-0350.
Buyer Qualifications for SHIP Homebuyer Program:
- Must be a first time homebuyer.
- Must have a total gross family income that does not exceed 120 percent of the area median income for Escambia County adjusted for family size.
- Must have sufficient income and credit-worthiness to qualify for primary financing from a participating lender.
- Must attend an eight-hour HUD certified homebuyer education class prior to closing.
- Must contribute a minimum of $1000 toward the home purchase.
- First time homebuyer requirement will be waived in cases where the applicant meets the definition of "essential service personnel" as specified in the Local Housing Assistance Plan (First Responders, Educators/School Employees, Health Care Professionals, Tourism/Hospitality Industry Professionals, Judicial Employees, and Skilled Building Trade personnel).
Homebuyer Education Class
The SHIP homebuyer program requires completion of a pre-purchase homebuyer education class by a HUD certified counseling agency prior to closing on your home. Please plan ahead in scheduling your class with the counseling agency as classes fill up quickly.
For the free, in-person class, contact one of the following agencies:
Community Enterprise Investments, Inc.
Preston Denagall, Jr.
302 N. Barcelona St.
Pensacola, FL 32501
Phone: 850-595-6234, ext. 206
2020 homebuyer class schedule
Consumer Credit Counseling Services of Mobile
705 Oak Circle Drive East
Mobile, AL 36609
Additionally, an online class is offered through CEII for $99. Please sign up online at www.ehomeamerica.org.
Please contact the counseling agency for the most up to date schedule.