County SHIP: The Local Funds Most Buyers Miss — $5K to $30K+ That Stack on Top

Here is the secret most first-time buyers never learn: state and county programs are separate pots of money with separate rules. That means you can use both at the same time. County SHIP is the local layer that, when stacked with Hometown Heroes, can push your total assistance well past $50,000.

How much can you get?

SHIP amounts vary significantly by county and income tier:

• Hillsborough County: Up to $30,000+ for lower-income households (run by Hillsborough County HFA)
• Pinellas County: $10,000-$20,000 typical range
• Pasco County: $5,000-$15,000 typical range
• Polk County: $10,000-$25,000 depending on area and income

Figures are 2026 estimates — your lender confirms current limits and funding availability.

The stacking math

Here is what combined assistance can look like on a $350,000 purchase:

• Hometown Heroes (5% of loan): $17,500 — deferred, 0% interest
• Hillsborough SHIP: $25,000 — deferred or forgivable
• Total assistance: $42,500

For lower-income buyers in Hillsborough County, the combined total can exceed $50,000. That often covers your entire down payment and closing costs with nothing out of pocket.

How SHIP funds work

Each county structures its SHIP program differently:

• Deferred: No payment, no interest — repaid on sale or refi (similar to state programs)
• Forgivable: Balance drops to $0 after a compliance period (typically 5-15 years of occupancy)
• Combination: Some counties split into a forgivable portion and a deferred portion

Eligibility (general — varies by county)

• Income: Typically 80% of Area Median Income (AMI) or below — lower caps than state programs
• First-time buyer: Usually required, varies by county
• Property location: Must be in the county providing funds
• Homebuyer education: HUD-approved course typically required
• Occupancy: Primary residence, owner-occupied

Why most buyers miss County SHIP

Three reasons SHIP flies under the radar:

1. Separate application process. You apply through the county housing office — not your lender. If your lender does not tell you about it, you will never know.
2. Limited funding windows. Counties open applications periodically, not year-round. Missing the window means waiting months.
3. Agent awareness. Many real estate agents do not know SHIP exists or how to coordinate the timing. Barrett Henry, REALTOR® has helped buyers access county funds across Hillsborough, Pinellas, Pasco, and Polk counties.

How to time your application

The ideal sequence is:

1. Get pre-approved with a FL Housing participating lender (locks in your state program)
2. Apply for County SHIP through your county housing office
3. Begin your home search while both programs process
4. Close with stacked assistance once both are committed

Barrett coordinates this timeline so nothing falls through the cracks.

Related programs

• Hometown Heroes — the state program SHIP stacks on top of
• HFA Preferred Plus — forgivable state option
• FL Assist — $10K deferred state option
• National DPA — additional layer for higher incomes