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 $45,000 for income eligible borrowers for down payment and closing cost assistance. Amount of assistance is determined based of household income. Assistance is provided in the form of a ten-year forgivable loan provided that the buyer does not sell, rent, or transfer within that time frame and retains the property as principal residence with homestead exception. Maximum sales price is $481,176 Funding is available on a first qualified, first served basis. Priority given first to Very Low followed by Low income to applicants in accordance with program funding distribution percentage requirements. For more information, call 850-858-0318 or email Tpickens@cityofpensacola.com.

As of August 2024, the funds for the SHIP Purchase Assistance program have been fully allocated. We will update the website once new funding becomes available. In the meantime, please note that all other programs remain unaffected and are still available to assist you as applicable

Buyer Qualifications for SHIP Homebuyer Program:

• Must be a first time homebuyer as defined by SHIP. To meet this definition, you must not have owned a home or had interest in a homesteaded property within the last three years.
• 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 $500 for Very Low-Income buyers, $750 for Low-   Income buyers, and $1000 for Moderate-Income toward the home purchase.
• Buyer must occupy the residence as their primary residence and apply for homestead exemption within the first year of ownership.
• Should we use the city language here instead? Applicant(s) cannot have owned a home or had ownership interest in homesteaded property in the last three years

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

Consumer Credit Counseling Services of Mobile
705 Oak Circle Drive East
Mobile, AL 36609
Phone: 251-602-0011

Additionally, an online class is offered through CEII for $99. Please sign up online at this link.

Pensacola Habitat for Humanity
300 West Leonard Street
Pensacola, FL 32501
Phone: 850-434-5456

Please contact the counseling agency for the most up to date schedule.