Question 1

Is the Winter Haven down payment assistance a grant or a loan?

Accepted Answer

It is a deferred, forgivable loan. This means it has 0% interest and requires no monthly payments. If you live in the home for the full 5-year term, the loan is forgiven.

Question 2

What if I sell the home before 5 years?

Accepted Answer

If you sell, refinance (cash-out), transfer title, or cease to occupy the home as your primary residence within the 5-year period, you may be required to repay the assistance funds.

Question 3

What qualifies as a First-Time Homebuyer for SHIP?

Accepted Answer

For this program, you are considered a first-time homebuyer if you have not owned a home in the last 3 years. Even if you owned a home 10 years ago, you may still qualify.

Question 4

Do I need to use a specific lender for Winter Haven DPA?

Accepted Answer

Yes. You must obtain a pre-approval from a SHIP-eligible lender. Not all mortgage companies are approved to work with the City of Winter Haven's assistance program.

See If You Qualify