Nov. 13 Set as Opening Date for SHIP Housing Applications

OKEECHOBEE — In a move poised to significantly benefit its residents, Okeechobee County has been granted a substantial sum of $454,280 by the Florida Housing Finance Corporation. This funding, a part of the State Housing Initiatives Partnership (SHIP) Program, is earmarked for the State Fiscal Year 2023-2024.

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However, potential beneficiaries should note that these funds are finite. Priority will be given to applicants who are already on the waiting list.

Exploring Affordable Housing Assistance in Okeechobee County For low-income households, the county extends a variety of housing assistance strategies. If your household falls within the low-income bracket, you might qualify for several assistance opportunities:

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  1. Purchase Assistance: Designed for those looking to buy existing homes, this program offers help based on household income and specific needs. Assistance includes help with down payments and closing costs, provided as deferred payment loans. It’s crucial for applicants to have a mortgage pre-qualification before seeking SHIP assistance. Do note that SHIP funds are not applicable for mobile home purchases.
  2. Owner-Occupied Rehabilitation: If you own and occupy a dwelling in need of rehabilitation, this program might be for you. Depending on household income and the extent of need, assistance is provided. However, applicants are required to have homeowners’ insurance.
  3. Emergency Repair: For homeowners faced with urgent repair needs, this scheme provides funds. Eligible repairs span from structural system damages, roof and window damages, faulty electrical wiring or plumbing, malfunctioning A/C units, to any failure that poses an immediate health or safety threat.
  4. Eviction Prevention: Catering to renter households in financial distress, this program offers up to three months of back rent and late fee coverage. Whether it’s due to a job loss, unexpected expenses like vehicle repairs, illness, unforeseen medical bills, or the death of a family member in the household, you could qualify.
  5. Foreclosure Prevention: Similar to eviction prevention, this initiative aids homeowner households facing possible foreclosure. By covering up to three months of overdue mortgage payments and associated late fees, this program provides a safety net for those experiencing hardships such as job disruptions, unforeseen expenses, or personal tragedies.

If you find yourself facing housing challenges, Okeechobee County’s housing initiatives, backed by the SHIP Program, might be the lifeline you need.

Christopher Charles spent 6 years in the mortgage industry before moving into the world of digital media. He's helped thousands of families buy and refinance real estate at banks and mortgage companies and now continues that mission through industry-leading content. Chris is known for his expertise in the mortgage & real estate industry and continues to produce content all over the web.

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