State Housing Initiatives
Partnership Program (SHIP)
Purchase Assistance

 

SHIP Purchase Assistance Program ​

 

Dreaming of homeownership but need help covering your down payment or closing costs?

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The Sarasota SHIP Purchase Assistance Program offers up to $75,000 in financial assistance to eligible very low and low-income, first-time homebuyers who are working with a mortgage lender to purchase a home in unincorporated Sarasota County, Florida (including City of North Port, City of Venice, Osprey, Nokomis, and Englewood.) Properties located in the City of Sarasota are not eligible for assistance through this program. 

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Assistance is provided as a 0% interest deferred loan that is forgiven at a rate of 5% per year over 20 years, provided the home remains the buyer's primary residence and all program requirements are met. No payments required provided the loan remains in good standing and complies with all mortgage requirements.

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To apply, prospective homebuyers must first obtain mortgage pre-approval. A participating lender will then submit the Purchase Assistance application on the buyer's behalf. Any licensed lender may participate—there are no preferred lenders and no lender approval process.

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Before applying, please review the Purchase Assistance Fact Sheet, Required Documents, and Frequently Asked Questions (FAQs) for information about income eligibility, program requirements, and the documentation needed to complete an application.

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The SHIP Purchase Assistance Program is designed to help eligible families achieve sustainable homeownership by encouraging long-term residency. Participants are expected to occupy the home as their primary residence for at least 20 years, helping to build stable households and stronger communities.​​

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Applications for SHIP funding for owner-occupied rehabilitation activities for 2025-2026 are currently closed. The new application cycle for these programs will begin Sept. 1, 2026.

 

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