Get up to $15,000 toward down payment and closing costs on your first home in Franklin County. Assistance is a 0% deferred loan with 10% forgiven each year over ten years.
Eligibility, property approval, and available funding required.
Franklin County purchase assistance helps eligible households cover the cost of buying a home. Assistance is funded through Florida's State Housing Initiatives Partnership (SHIP).
Very-Low-Income Buyers
Up to $15,000 in purchase assistance.
Low-Income Buyers
Up to $12,500 in purchase assistance.
Moderate-Income Buyers
Up to $10,000 in purchase assistance.
Get your financing, documents, and program application ready for a home in Franklin County.
Discuss your financing and monthly payment with a lender before choosing a home.
Gather income and asset records and review the county's first-time buyer requirements.
Contact the county's SHIP office for application requirements and review the documents needed for your purchase.
The county reviews your application and purchase documents and must approve assistance before closing.
Your down payment is only part of the cost of buying a home. Franklin County purchase assistance can help with eligible upfront costs so you can plan your next move.
Use approved assistance toward your down payment and closing costs, while meeting your lender's and the program's cash requirements.
Bring your mortgage and purchase assistance together for an eligible primary residence in Franklin County.
Meet the program's loan and occupancy conditions to have 10% of your assistance forgiven each year over ten years.
Answers about buying a home with Franklin County purchase assistance.
The county's purchase-assistance program helps eligible first-time buyers cover down payment and closing costs on a primary residence in Franklin County. Awards vary with household income.
Maximum awards are $15,000 for very-low-income households, $12,500 for low-income households, and $10,000 for moderate-income households. Approval and available funding determine the final award.
For a four-person household, the very-low-income limit is $41,150, the low-income limit is $65,850, and the moderate-income limit is $98,760. Different limits apply to other household sizes.
It is a 0% deferred loan secured by the home, with a ten-year term and 10% annual forgiveness. The unpaid balance can become due if you sell or fail to meet the loan's occupancy and other requirements.
Yes. You must meet the program's first-time buyer definition, generally meaning you have not owned a principal residence in the previous three years. The county determines whether an exception applies.
Eligible new or existing homes in Franklin County must become your primary residence. The purchase strategy excludes mobile homes and attached homes; qualifying community-land-trust purchases may be eligible.
Contact Franklin County's SHIP office for the purchase-assistance application and required documents. The county reviews your household, financing, and proposed home before approving an award.
Review your mortgage qualifications and budget, gather income and asset records, and confirm that your planned home meets the program's property requirements. County approval is separate from mortgage approval.
Franklin County's SHIP office reviews the assistance application, household eligibility, financing, and purchase documents. The office can be reached at 850-653-5851.
No. This is a mortgage inquiry with Next Wave Mortgage. It does not submit a county assistance application, add you to a county waiting list, or guarantee an award.
Bring your mortgage budget, household income, and purchase plans together. Review the assistance requirements and repayment terms before choosing your next home in Franklin County.
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