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
COVID-19 UPDATE: CEII offices are currently closed to the public. The online course is available for homebuyers. Any fees paid by the homebuyer will be counted toward homebuyer's required minimum contribution. During this time, the online fee has been reduced to $25 per person.
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.