Interested in purchasing a Lee County Florida home? Here’s how we can help…
LEE COUNTY FLORIDA HOME LOAN DOWN PAYMENT ASSISTANCE PROGRAM
The Lee County Florida HOME Down Payment Assistance Program provides down payment and/or closing cost assistance to those who qualify. Lee County will determine the minimum amount of assistance based on need. The Lee county approved mortgage lenders required minimum down payment (less earnest money deposit paid by homeowner) and reasonable closing costs will be considered. The lender required the minimum down payment assistance will be determined by the Lee county FL mortgage lender and input on the application for assistance. Maximum assistance, in any case, is 10% of the current applicable maximum Lee county Florida HOME purchase price. Lee County will not provide additional down payment assistance to lower debt-to-income ratios to be within our required 30/45 ratios. Case by case acceptions. If homebuyer utilizes a loan program that requires $0 down payment, then Lee County will only provide closing cost assistance (minimum assistance $1,000). If all of the approved funds are not utilized at the closing, the title company will be required to issue a refund payable to Lee County BoCC, c/o Lee County Department of Humanand Veteran Services.
- Maximum assistance, in any case, is 10% of the current applicable maximum HOME purchase price. Lee
County will not provide additional down payment assistance to lower debt-to-income ratios to be within our required 30/45 ratios. If the homebuyer utilizes a loan program that requires $0 down payment, then Lee County will only provide closing cost assistance (minimum assistance $1,000).
2. The home must be existing (must have received its certificate of occupancy at least one year prior to making application for assistance). No new construction. MAXIMUM PURCHASE PRICE IS $181,000
3. Must be purchasing a single family home, condo, or PUD in Lee County, Florida. Double-wide mobile/manufactured homes are also included if 1978 or newer and situated on owned land; but no duplexes or homes with attached or detached mother-in-law units. Homes with in-ground pools of any type are not allowed.
4. To Much income, Lee county counts all income parttime overtime commission even if you started yesterday.
HUD’s Guidelines effective June 1, 2018
Family Size Maximum Gross Annual
Household Income
Family Size Maximum Gross Annual
Household Income
1 $35,700 5 $55,050
2 $40,800 6 $59,150
3 $45,900 7 $63,200
4 $50,950 8 $67,300
Lee County Homebuyers must have annual household income at or below income levels, attend a homebuyer education class from a HUD Approved Housing Counseling Agency, be able to obtain a commitment for a mortgage from a lending institution, and occupy property as their primary/principal residence. All borrowers must occupy the home and be party to the Deed, Mortgage and Note to the house being purchased (non-occupying co-borrowers/co-signers are not allowed).
Funds are available on a first-come, first-ready basis. Funds may be used toward the down payment and/or closing costs only. Lee County Homebuyers cannot receive cash back, including money paid towards earnest money deposit, application fee, appraisal, etc. Assistance will result in a second mortgage on the property being purchased. This mortgage is no interest and does not require monthly payments as long as the home is their primary homesteaded residence for the duration of the mortgage term.
The lender applies for the assistance from Lee County on the borrower’s behalf. The lender must complete a lender referral form and attach the required documents including a fully accepted purchase contract and forward the completed application package to Lee County DHVS for review.
Please check for funding availability prior to submitting an application.
HOME Program
If you are purchasing an existing single family home (or condominium/townhouse) anywhere in Lee County you may qualify for assistance. The maximum purchase price is $181,000, and the maximum amount of assistance will be 10% of the purchase price (not to exceed $18,100). The second mortgage will be for a term of 10 years and will reduce at a rate of 10% per year.
| HOME Info Sheet | HOME Informacion en Español |
| HOME Program Application | HOME Aplicacion en Español |
SHIP Program
Now accepting applications for Moderate Income Households. Please view income levels at the top of the page.
If your are purchasing a newly constructed single family home in Unincorporated Lee County, Bonita Springs, Estero, Fort Myers Beach, or Sanibel you may qualify for assistance. The maximum purchase price is $328,847, and the maximum amount of assistance ranges from $22,500 to $40,000 depending on your household income. The second mortgage will be non-reducing for a term of 15 years.
| SHIP Info Sheet | SHIP Informacion en Español |
| SHIP Program Application | SHIP Aplicacion en Español |
