---
title: "First Time Homebuyer Down Payment Assistance"
url: https://stacklist.com/card/79b27f28-addc-4f1f-8eed-b0dee20bac76
source_url: "https://www.claycountygov.com/community/state-housing-initiative-program-ship/first-time-homebuyer-down-payment-assistance"
stack: https://stacklist.com/stack/57f59324-f30f-4ea4-869d-11caaba40e5e
summary: "The SHIP First-Time Homebuyer Assistance Program provides up to $20,000 in down payment and closing cost assistance through a deferred second mortgage for eligible first-time homebuyers purchasing homes in Clay County, Florida. Applicants must meet income limits, credit score requirements, complete homebuyer education, and occupy the home as their primary residence."
tags: "homebuyer-assistance, down-payment, first-time-homebuyer, clay-county, mortgage, eligibility, housing-program"
key_entities: "SHIP (State Housing Initiatives Partnership) (organization), Clay County, Florida (location), Florida (location), Holly MacLean (person), First-Time Homebuyer Assistance Program (concept), Down Payment Assistance (concept), Deferred Second Mortgage (concept)"
classification: "reference"
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acp_version: "0.2"
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status: "final"
---

# First Time Homebuyer Down Payment Assistance

First-Time Homebuyer Assistance Program The SHIP First-Time Homebuyer Assistance Program helps eligible homebuyers purchase a home in Clay County by providing down payment and closing cost assistance. Eligible Area Homes purchased through this program must be located in Clay County, Florida . Eligibility Requirements Applicants must be first-time homebuyers and legally eligible to reside permanently in the United States. The home must be the buyer's primary residence. Applicants must occupy the home within 60 days of closing. The property may not be rented at any time. Applications are accepted without regard to age, race, color, religion, national origin, sex, marital status, military status, or disability. For additional down payment assistance information, visit Florida First-Time Homebuyer Program . Down Payment Assistance Eligible homebuyers may receive up to $20,000 in down payment and closing cost assistance through a: 30-year deferred second mortgage 0% interest No monthly payment Important: The second mortgage is not forgivable . It must be repaid when the first mortgage is paid off, refinanced, the property is sold, transferred through a short sale or foreclosure, or if the home is no longer the borrower's primary residence. Household Income Limits Household income includes all borrowers, spouses, and everyone age 18 or older living in the home. Approximate Income Limits Household Size Maximum Annual Income 1–2 Persons $78,865 3 or More Persons $90,694 Income limits apply to FHA, USDA-RD, and VA loan programs and are subject to change. Purchase Price Limit The maximum purchase price is $322,925 . Homebuyer Education First-time homebuyers must complete an approved pre-purchase homebuyer education course. Your participating lender can provide additional information about approved courses. Eligible Properties Single-family homes Townhomes Condominiums Duplexes, triplexes, and four-unit properties New or existing homes Note: Mobile homes are not eligible. Minimum Credit Score Applicants must have a minimum FICO credit score of 640 . Ready to Apply? If you believe you meet the program requirements, contact the SHIP Office to begin the application process. Email Holly MacLean, SHIP Intake Coordinator