Housing Programs

HOME Program (Federal Assistance)

The program encourages the acquisition of existing affordable homes for low-income families by providing assistance with certain eligible closing cost and down payment. As of 2021, applications are being accepted and will continue to be accepted until funds are depleted. 

Your first step will be to get with one of our registered lenders to get pre-approved on a first mortgage. These lenders have attended a face-to-face training session on how to submit homebuyer applications. You will not directly apply to us; your lender will submit your application to us on your behalf. Once we have received your file and are able to determine your eligibility, we will then schedule a day and time for you to come to our office to sign award paperwork.

Please review the below eligibility documentation.

• 2023 HOME Homebuyer Program Summary - this provides details to the program, household income limits, property restrictions, and lien periods. It also tells you about the requirement of attending an 8-hour First Time Homebuyer course.
• Registered Lenders List - this is the list of lenders that are approved to submit homebuyer applications under our program
• Eligible/Non-Eligible Closing Cost – this lists the closing cost that can and cannot be paid using our funding

State Housing Initiatives Partnership (SHIP) Program

Please be advised that the Santa Rosa County SHIP First Time Homebuyer Program will start accepting homebuyer applications on Tuesday, September 5, 2023. Any applications submitted prior to this start date will not be accepted. SRC has allocated $845,000 for this year's First Time Homebuyer Program. These funds are provided from our 2023.2024 FY allocation and our 2022.2023 program income. Applications will continue to be accepted after the opening date until funds are depleted.

The process for applying for these funds is that same as the HOME Program listed above. Please review the below eligibility documentation

• 2023 SHIP First Time Homebuyer Summary - this provides details to the program, household income limits, property restrictions, and lien periods. It also tells you about the requirement of attending an 8-hour First Time Homebuyer course.
• Registered Lenders List - this is the list of lenders that are approved to submit homebuyer applications under our program
• Eligible/Non-Eligible Closing Cost – this lists the closing cost that can and cannot be paid using our funding

Required Homebuyer Course

Any borrower using one of the above homebuyer assistance programs must complete a HUD approved homebuyer course. Please contact one of the two agencies listed below to schedule an appointment.

• Community Enterprise Investments, Inc. - This course has limited seating, so once you have made application to a lender for a first mortgage, go ahead and schedule your class. The face-to-face class is free of charge. You may also take their online class for a fee of $99.00. For the online class you will need to go to ehomeamerica. Select homebuyer education, then Florida, then Santa Rosa County, then Community Enterprise Investments, Inc
• Pensacola Habitat for Humanity - Classes offered on a monthly basis. The Course is free and includes a light breakfast and lunch. For more information go to: https://pensacolahabitat.org/housing-counseling or contact Betsy McDonald at 850-434-5456, Ext 131 or via email: emcdonald@pensacolahabitat.org

Other Homebuyer Assistance Funding Sources

There are many other homebuyer assistance funding sources available. Click on the below links to review the eligibility requirements. You will need to contact the agency directly with any questions you may have.

• Hometown Hero's
• Florida Bond Program
• Homeownership Pool Program (HOP)
• Salute Our Soldiers Military Loan Program