Hernando County SHIP Program Accepting Applications Through March 31

First-time homebuyers in Hernando County have 11 days to apply for up to $50,000 in down payment and closing cost assistance through the county's State Housing Initiatives Partnership program, with the current application window closing March 31, 2026.

The SHIP program draws from an estimated $1,468,462 in grant funds allocated to Hernando County for fiscal years 2025-2026, money generated through the local documentary stamp tax on real estate transactions and disbursed through the Florida Housing Finance Corporation. Funding for fiscal year 2026 is limited and awarded on a first-come, first-qualified basis, meaning early applicants have the strongest chance at assistance.

Assistance levels vary by purchase type. Buyers acquiring an existing home or financing new construction can receive up to $30,000 toward down payment and closing costs. Those combining a purchase with rehabilitation work can access up to $30,000 for down payment and closing costs plus an additional $20,000 for necessary improvements, bringing the total potential package to $50,000.

Eligibility requires meeting four conditions: having no homeownership in the last three years, falling within 2026 household income limits categorized as Very Low, Low, or Moderate, completing a homebuyer education class, and securing a primary mortgage pre-approval from a participating lender. The county requires verification of all eligibility criteria before assistance is awarded.

Beyond the current application window, the SHIP program also funds Owner-Occupied Housing Rehabilitation and Emergency Repair assistance, both of which opened October 1, 2025, and remain available until funds are exhausted. The Emergency Repair program specifically targets homeowners facing conditions that pose an imminent threat to health and safety, covering roof replacement, electrical hazards, failing septic systems, handicap accessibility modifications, and non-functioning HVAC systems. Rehabilitated homes must be the owner's homestead and primary residence.

The county's broader affordable housing strategy, outlined in its fiscal year 2025-2026 budget, extends SHIP dollars across seven use categories: Down Payment Assistance, Owner-Occupied Rehabilitation, Special Needs Housing, Emergency Repairs, Multi-Family Affordable Housing, Non-Profit Construction, and Disaster Strategies. Hernando County's affordable housing reserves also allow up to three years in some cases to spend awarded funds, providing flexibility for longer construction and rehabilitation timelines.

Prospective applicants should contact the county directly to confirm the application process, required documentation, participating lenders, and specific 2026 income thresholds before the March 31 deadline.