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Florida Housing administers the State Housing Initiatives Partnership program (SHIP), which provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing. The program was designed to serve very low, low and moderate income families.

SHIP dollars may be used to fund emergency repairs, new construction, rehabilitation, down payment and closing cost assistance, impact fees, construction and gap financing, mortgage buy-downs, acquisition of property for affordable housing, matching dollars for federal housing grants and programs, and homeownership counseling. SHIP funds may not be used to assist mobile homes or manufactured housing; however, manufactured buildings with the Florida Department of Community Affairs’ insignia are eligible.

Eligibility requirements:

Home location: The home must be located in Deltona.

Max Rehab Assistance $15,000

• Purchase price: The maximum purchase price is $152,000 for households with income that do not exceed 80% of Area Median Income (AMI). The maximum purchase price for households with income between 81 % and 120%

AMI is $225,000.

• Applicants must not have owned a home within the last (3) three years, filed for bankruptcy in the last 2 years or defaulted on a mortgage within the las: (7) seven years preceding the application for SH IP Purchase Assistance.

• Total household annual gross income must not exceed the annual amounts, as determined by HUD and FHFC.

• Applicants must secure a first mortgage in the maximum amount for which they can afford with a fixed interest rate and no pre-payment penalty.

• Applicants must contribute a minimum dollar amount towards the down payment of the home according to the household income:

• Applicants must attend and complete a Home buyer Education Counseling course provided by or approved by the City.

• Applicants who qualify for SHIP Purchase Assistance must contractually agree to all SHIP Program guidelines and the City of Detona requirements, recapture provisions, and certify that the unit assisted will be their principal residence.