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Understanding the Program
Collier County’s Community & Human Services (CHS) offers significant financial aid to income-qualified, first-time homebuyers. The assistance is primarily delivered through two funding streams: SHIP and HOME.
SHIP Purchase Assistance
State-funded assistance functioning as a 0% interest, deferred-payment second mortgage.
No monthly payments required on the assistance loan.
Repayment is generally only due upon sale, transfer, or refinancing.
Can be forgiven in some cases after 30 years of occupancy.
HOME Purchase Assistance
Federal HUD funds designed to help with down payments and closing costs, subject to strict federal guidelines.
Strict affordability period requirements.
Requires occupancy as primary residence for the duration of the term.
Lower maximum purchase price limits compared to conventional loans.
Available Assistance Amounts
Based on income qualification tiers (SHIP Program Guidelines).
Very-Low Income
Up to $50,000
For households earning 50% or less of the Area Median Income (AMI).
Low Income
Up to $30,000
For households earning between 51% and 80% of the Area Median Income (AMI).
Moderate Income
Up to $20,000
For households earning between 81% and 120% of the Area Median Income (AMI).
Essential Services Personnel Bonus: An additional award (typically $5,000) may be available for eligible essential workers. *Note: Amounts subject to change based on 2026 NOFA and funding cycles.
Key Eligibility Requirements
1
First-Time Homebuyer
You generally must not have owned a home in the last 3 years (exceptions exist for displaced homemakers).
2
Income Limits
Your household income must fall within the Very Low, Low, or Moderate limits set by the County.
3
Homebuyer Education
Completion of a HUD-approved homebuyer education workshop is mandatory.
4
Mortgage Pre-Approval
You must secure a first mortgage pre-approval from a participating lender.
Beyond Income: Financial Qualification Standards
Qualifying for assistance involves more than just your annual salary. The County uses specific financial health metrics to ensure that homeownership is sustainable for you in the long run.
Debt-to-Income (DTI) Ratios
The program looks at two key ratios to ensure you aren't overextended:
32%Front-End Ratio: Your new monthly housing payment should not exceed 32% of your gross monthly income.
45%Back-End Ratio: Your total monthly debt (housing + credit cards, car loans, etc.) should not exceed 45%.
Asset Limitations
Assistance is intended for those who truly need it. There is a "liquidity test" for applicants:
$30,000 Cap
Max Liquid Assets
If you have liquid funds (savings, checking, etc.) above this amount, the excess may need to be applied toward your down payment, reducing your assistance award.
Credit History Check
While a specific minimum credit score is determined by your first mortgage lender, the County reviews your credit history for major derogatory events.
Disqualifying factors (last 3 years):
Foreclosures
Bankruptcies
Unpaid federal tax liens
Deed-in-lieu of foreclosure
How the Money Works
The assistance is not a simple grant; it is structured as a deferred-payment second mortgage. This ensures the funds are used to support long-term homeownership in the community.
Zero Interest & Deferred Payments
You do not make monthly payments on this loan. It sits silently behind your first mortgage at 0% interest.
Repayment Triggers
Repayment is typically due only if you sell the home, transfer the title, or refinance your first mortgage (cash-out).
Loan Forgiveness
SHIP: The loan may be forgiven if you occupy the home as your primary residence for 30 years. HOME: Follows a specific "affordability period" where the loan is recaptured if sold early.
Why This Structure Matters
By structuring the assistance as a deferred loan rather than a simple grant, the County ensures that funds can be "recycled" to help future homebuyers if a property is sold for a profit shortly after purchase.
Important: You must occupy the property as your primary residence. Renting out the home may trigger immediate repayment.
Property Rules & Critical Details
Eligible Locations
Funds can generally be used in:
Unincorporated Collier County
City of Naples
City of Marco Island
Everglades City
Purchase Price Limits
SHIP: Max price typically cannot exceed 90% of the average area sales price. HOME: Has a stricter, federally set maximum purchase price limit.
Inspections & Condition
A full inspection by a Florida-certified inspector is required. Health and safety issues may result in denial or require repairs before funds are disbursed.
Common "Gotchas"
Asset Cap: Liquid assets generally capped at $30,000. Excess may need to be used for the purchase.
DTI Ratios: Target Debt-to-Income is typically 32% (front) / 45% (back).
Timeline: Review can take 8–12 weeks. Plan your closing date accordingly!
Why Choose the Collier County Down Payment Assistance Program?
Navigating the real estate market in Naples, Marco Island, and Unincorporated Collier County can be challenging for first-time buyers. The Collier County Down Payment Assistance Program serves as a vital bridge, transforming the dream of homeownership into reality by covering substantial upfront costs.
Offset Rising Interest Rates
By reducing your principal mortgage amount with up to $75,000 in assistance, you effectively lower your monthly mortgage payments. This financial leverage helps combat higher market interest rates, making homeownership in Florida more sustainable.
Preserve Your Savings
Instead of draining your emergency fund for closing costs, qualifying buyers can utilize SHIP or HOME funds. This financial buffer ensures you are better prepared for future home maintenance and unexpected expenses post-closing.
Community Stability
This program is specifically designed to keep essential workforce personnel and families in the community. Whether you are looking in Everglades City, Golden Gate, or Immokalee, these funds support local retention and housing stability.
Build Generational Wealth
Homeownership is a primary driver of wealth in Florida. Locking in a fixed housing cost now protects you from future rent hikes and builds equity over the affordability period.
Frequently Asked Questions
Common questions about qualifying for SHIP and HOME funds.
What is the maximum amount of down payment assistance available in Collier County?
Eligible first-time homebuyers can receive up to $50,000 (Very-Low income), $30,000 (Low income), or $20,000 (Moderate income) through SHIP funds. Essential Services Personnel may qualify for additional bonus funds. Amounts are subject to funding cycles.
Who qualifies for the Collier County Down Payment Assistance Program?
Applicants must be first-time homebuyers (no ownership in the last 3 years), meet household income limits (Very Low to Moderate), complete a HUD-approved homebuyer education course, and secure a first mortgage pre-approval from a participating lender.
Do I have to repay the Collier County down payment assistance?
Typically, no monthly payments are required. The assistance is structured as a 0% interest, deferred-payment second mortgage. Repayment is usually only due if you sell, transfer, or refinance the home. For SHIP, the loan may be forgiven after 30 years if you remain in the home.
What is the income limit for Collier County assistance in 2026?
Income limits vary by household size. Programs generally cover Very Low (50% AMI), Low (80% AMI), and Moderate (120% AMI) income categories. Official figures are updated annually in the SHIP/HOME application packet; applicants must verify current limits with the County.
How long does the approval process take?
The County's review process typically takes 8 to 12 weeks from submission to approval. Applicants should plan their real estate contract and closing date accordingly to accommodate this timeline. Funds must be reserved before closing.
Can I buy a condo with Collier County SHIP funds?
Yes. Eligible property types include single-family homes, townhomes, and condominiums located within Unincorporated Collier County, the City of Naples, Marco Island, or Everglades City.
What is the maximum purchase price allowed?
For the SHIP program, the purchase price generally cannot exceed 90% of the average area sales price. The HOME program has separate, federally mandated maximum purchase price limits that are often lower.
What credit score is needed for assistance?
While the County generally defers to the first mortgage lender's credit requirements, they assess risk factors like previous foreclosures or bankruptcies. The program also targets a Debt-to-Income (DTI) ratio of 32% (front) / 45% (back).
Can I use the funds for closing costs?
Yes. The funds are designated for down payment and closing cost assistance. This helps reduce the initial cash-to-close amount required to purchase a home.
What happens if I have liquid savings?
The program includes an asset cap. Generally, liquid assets are capped at $30,000. If your liquid assets exceed this amount, the surplus may need to be applied towards the home purchase, reducing the assistance amount.
