Put up to $50,000 toward your down payment and closing costs on a home in Gulf County. Eligible first-time buyers can receive a 0% deferred loan with forgiveness over ten years.
Eligibility, an approved purchase, and program funding are required.
Gulf County purchase assistance helps eligible local residents buy a first home through the State Housing Initiatives Partnership (SHIP) program.
Purchase Assistance
Up to $50,000 or 50% of the purchase price, whichever is less.
Eligible Purchase Costs
Apply assistance toward down payment, closing costs, and principal reduction.
Forgivable Loan
A 0% deferred loan with 10% forgiven each year over ten years while requirements are met.
Get your financing, household documents, and home purchase ready for Gulf County purchase assistance.
Find out what you can borrow and what you will need for a down payment and closing costs.
Collect income, asset, and residency records for the county's eligibility review.
Submit your purchase-assistance application through the Apalachee Regional Planning Council.
Your home, mortgage, and assistance award must be approved before assistance is applied at closing.
Down payment and closing costs are part of the cost of buying a home. Gulf County purchase assistance can help cover eligible costs while you establish your primary residence.
Apply an approved assistance award toward eligible down payment and closing costs.
The assistance loan has deferred payments. Your primary mortgage still requires its regular payments.
The assistance is a 0% deferred loan secured by your home. Ten percent of the original principal is forgiven each year over ten years while you meet the occupancy and loan requirements. Selling, moving out, or another default can require repayment of the unforgiven balance.
Common questions about the Gulf County purchase assistance.
Gulf County purchase assistance helps eligible local residents buy a first home through the State Housing Initiatives Partnership (SHIP) program. Eligible buyers may receive up to $50,000 toward approved purchase costs.
Qualify as a first-time homebuyer under the program rules and already live in Gulf County when you apply. Meet household income and asset requirements; assistance serves households up to 140% of area median income. Buy an eligible home in Gulf County priced at $255,000 or less. Qualify for a first mortgage and use the home as your primary residence.
Income limits depend on household size. For a four-person household in 2026, the limits are $43,050 at 50% of area median income, $68,850 at 80%, $103,320 at 120%, and $120,540 at 140%. The county reviews income and assets before approving assistance.
Eligible buyers can receive up to $50,000 or 50% of the purchase price, whichever is less. The same maximum applies across eligible income categories, including households up to 140% of area median income. Assistance can cover down payment, closing costs, and principal reduction. The final award depends on your eligibility, eligible costs, and program funding.
The assistance is a 0% deferred loan secured by your home. Ten percent of the original principal is forgiven each year over ten years while you meet the occupancy and loan requirements. Selling, moving out, or another default can require repayment of the unforgiven balance.
Eligible purchases include homes in Gulf County priced at $255,000 or less. Qualifying manufactured homes built after June 1994 may be eligible. The property must meet program and mortgage requirements and become your primary residence.
Start with mortgage preapproval, then complete the purchase-assistance application through the Apalachee Regional Planning Council. Income, assets, residency, the purchase contract, and mortgage approval are reviewed before an award is approved.
Yes. You must live in Gulf County when you apply. The $50,000 asset limit excludes the assisted home, IRS-recognized retirement accounts, and necessary personal property. You cannot own other real property suitable for occupancy.
Gulf County reviews previous housing assistance and outstanding county housing loans. Purchase assistance is limited to one award per applicant or co-applicant, and total county housing assistance cannot exceed $75,000. Prior recipients must also meet the ten-year waiting period, outstanding-loan, and repayment requirements before further assistance can be considered.
No. This is a private mortgage inquiry with Next Wave Mortgage, LLC, not a county assistance application. A mortgage professional can help you review financing options; the county or its administrator makes the assistance decision.
Gulf County reviews previous housing assistance and outstanding county housing loans. Purchase assistance is limited to one award per applicant or co-applicant, and total county housing assistance cannot exceed $75,000. Prior recipients must also meet the ten-year waiting period, outstanding-loan, and repayment requirements before further assistance can be considered.
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