For Extremely Low, Very Low, and Low income applicants.
Interest Rate
0% Interest
Deferred second mortgage. No monthly payments required.
Loan Term
15 Years
Balance reduces by 1/3 every 5 years. Forgivable terms apply.
Program Overview
What is the Martin County Housing Assistance Program?
The Martin County Housing Assistance Program is a government-funded initiative designed to bridge the gap between renting and homeownership. Funded through the State Housing Initiatives Partnership (SHIP), it provides substantial financial support to eligible residents.
Unlike traditional loans, this program offers deferred, 0% interest financing to cover the largest hurdles to buying a home: the down payment and closing costs. By reducing your upfront costs, this program makes the dream of owning a home in Martin County a reality for families and individuals who can afford a mortgage but lack the savings for a large down payment.
Who Is This Program Perfect For?
The Martin County Housing Assistance program is designed to support a wide range of future homeowners.
The First-Time Buyer
You have a steady income and good credit, but high rent prices have made it difficult to save the $20,000+ needed for a traditional down payment.
Essential Workforce
Teachers, healthcare workers, police officers, and service professionals who serve our community and deserve to live in the neighborhoods they support.
Growing Families
Families who need more space than an apartment can provide and want to establish roots in Martin County's excellent school districts and communities.
The Martin County Housing Assistance program (SHIP) provides substantial financial support for First-Time Homebuyers. Funds can be used for down payment, gap financing, and closing costs.
Up to $103,500 for Low Income households.
Up to $83,500 for Moderate Income households.
$90,000 Lifetime Cap (excluding project delivery costs).
Note: If purchasing with rehabilitation, $4,000 to $10,000 must be set aside in escrow for repairs.
2026 Income Limits
Effective 4/1/2025 - Martin County / Port St. Lucie MSA
2026 Income Limits for Martin County Housing Assistance Program by household size and income category
Household Size
Very Low (50%)
Low (80%)
Moderate (120%)
1 Person
$33,150
$53,050
$79,560
2 People
$37,900
$60,600
$90,960
3 People
$42,650
$68,200
$102,360
4 People
$47,350
$75,750
$113,640
5 People
$51,150
$81,850
$122,760
6 People
$54,950
$87,900
$131,880
7 People
$58,750
$93,950
$141,000
8 People
$62,550
$100,000
$150,120
Key Requirements
✓ Must be a First-Time Homebuyer.
✓ Must qualify for a first mortgage.
✓ Must complete a HUD-approved Homebuyer Education Course.
Loan Terms & Recapture
This assistance is a 0% interest, deferred loan secured by a mortgage. No monthly payments are required as long as the loan remains in good standing.
Funds may be recaptured if you:
Sell or transfer title of the home.
No longer use the home as your primary residence.
Perform a cash-out refinance.
Fail to pay off the SHIP mortgage before a reverse mortgage.
Frequently Asked Questions
How much down payment assistance can I get in Martin County?
Qualified first-time homebuyers in Martin County can receive up to $103,500 if they are classified as Low Income (80% AMI) or below. Moderate Income (120% AMI) applicants are eligible for up to $83,500. Assistance covers down payment, gap financing, and closing costs.
Do I have to pay back the Martin County SHIP loan?
The assistance is structured as a 0% interest deferred loan with no monthly payments required. It is forgiven over time, with the balance reducing by one-third every five years. Repayment is only required if you sell, refinance (cash-out), or lose homestead status before the 15-year term ends.
What are the income limits for Martin County housing assistance 2026?
For 2026 (effective 4/1/2025), a 4-person household in the Port St. Lucie MSA (Martin County) has a Low Income limit of $75,750 and a Moderate Income limit of $113,640. Income limits vary by household size, ranging from 1 to 8 people.
Is the Martin County housing assistance a grant?
It is technically a deferred second mortgage, not a grant. However, the loan is forgivable if you remain in the home. One-third of the loan balance is forgiven every five years. If you stay in the home for the full 15-year term, the loan does not need to be repaid.
Who qualifies as a first-time homebuyer in Martin County?
To qualify, you must meet the HUD definition of a first-time homebuyer, generally meaning you have not owned a principal residence in the last three years. You must also qualify for a first mortgage and complete a HUD-approved Homebuyer Education Course.
Can I use the assistance for closing costs?
Yes. The Martin County Purchase Assistance program funds can be applied toward down payment, gap financing, and closing costs. This significantly reduces the total amount of cash you need to bring to the closing table.
What happens if I sell my home before 15 years?
If you sell or transfer the title of your home before the 15-year term is complete, the outstanding balance of the SHIP loan must be repaid. The balance reduces by 1/3 at the end of every 5 years, so the longer you stay, the less you owe.
Can I refinance my home after receiving assistance?
You may generally refinance to get a lower interest rate, but cash-out refinances are strictly prohibited. Taking cash out of your home's equity triggers a default, requiring immediate repayment of the SHIP assistance loan.
Does the program cover home repairs?
Yes, under the "Purchase Assistance with Rehabilitation" strategy. If the home requires repairs, between $4,000 and $10,000 of the awarded funds must be set aside in a non-interest-bearing escrow account at closing to pay for necessary improvements.
Is there a penalty for moving out of the property?
Yes. The home must remain your primary residence. If you move out, rent the property to someone else, or lose your homestead exemption status during the 15-year lien period, the loan goes into default and must be repaid.
Don't Let This Opportunity Pass You By
Funds for the Martin County Housing Assistance Program are limited. See if you qualify today and take the first step toward homeownership.
We are proud to assist homebuyers throughout the entire Martin County area. Whether you are looking for a coastal home or a quiet inland retreat, this program is available in:
StuartJensen BeachHobe SoundPalm CityIndiantownPort SalernoRioNorth River ShoresSewall's PointJupiter Island
