Official Program Info Gadsden Assistance

New home keys representing homeownership opportunity in Gadsden County

Available for Funding Year 2026

Gadsden County Down Payment
Assistance Program

Secure up to $10,000 in assistance for down payment and closing costs. Stop renting and start owning in Gadsden County.

See If You Qualify

2026 FUNDING STATUS

65% Claimed

First-Come, First-Served Basis

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Programs include SHIP & HFA "Big Splash" Initiatives.

Program Overview

What is the Gadsden County Down Payment Assistance Program?

The Gadsden County Down Payment Assistance Program is a comprehensive housing initiative designed to bridge the gap between your savings and the costs of purchasing a home. It operates through multiple funding channels, primarily the State Housing Initiatives Partnership (SHIP) and the Housing Finance Authority (HFA).

These programs work together to provide eligible first-time homebuyers with up to $10,000 in funding, which can be applied directly to down payments and closing costs. By reducing the initial cash requirement, these government-backed initiatives make homeownership in Gadsden County accessible, affordable, and secure for the 2026 funding year.

Why Rent When You Can Own?

Government-backed funding is available to help qualified buyers overcome the biggest hurdle to homeownership: the down payment.

Up to $10,000 Assistance

Qualified buyers may receive up to $10,000 to cover down payment and closing costs through local and state initiatives.

First-Time Buyers

Designed specifically for those who have not owned a primary residence in the last 3 years. (Exceptions for Veterans apply in some programs).

Deferred Payment Options

Many assistance options, such as the HFA "Big Splash," offer 0% interest, deferred second mortgages with no monthly payments.

Available Assistance Programs for 2026

Local SHIP

Gadsden County SHIP

The State Housing Initiatives Partnership (SHIP) provides funds to local governments to create partnerships that produce and preserve affordable homeownership.

Amount: Typically up to $10,000 for down payment and closing costs.
Eligibility: Must be a first-time homebuyer (not owned a home in 3 years). Income limits apply based on household size (SHIP/HHRP limits).

Regional HFA

HFA "Big Splash" Program

A multi-county program available in Gadsden County offering substantial down payment assistance paired with 30-year fixed first mortgages.

Structure: Up to $10,000 as a 0% interest, 30-year deferred second mortgage.
Repayment: Non-forgivable. Repayable upon sale, refinance, transfer of title, or if the home is no longer the primary residence.
Income Limits: Generous limits (e.g., $98,074+ for non-targeted areas) apply.

Who Is This Program Perfect For?

Renters Ready to Buy

Perfect for those tired of rising rents who want to build equity but lack the large lump sum for a deposit.

Credit Qualified Buyers

Designed for applicants with established credit (typically 640+) who just need help with closing costs.

First-Time Owners

If you haven't owned a primary home in the last 3 years, you likely meet the definition of a first-time buyer.

Local Families

Those looking to put down roots in Quincy, Havana, Midway, and surrounding Gadsden communities.

Serving Communities Across Gadsden County

We are proud to assist homebuyers throughout the entire county. Qualified properties in the following areas may be eligible for down payment assistance:

Quincy Havana Midway Chattahoochee Gretna Greensboro Mount Pleasant Sycamore Hardaway St. Hebron Hinson

Frequently Asked Questions

Common questions about Gadsden County Down Payment Assistance

How much down payment assistance is available in Gadsden County?

Qualified first-time homebuyers in Gadsden County can receive up to $10,000 in assistance. This funding is typically available through the local SHIP program or the regional HFA "Big Splash" initiative and can be applied toward your down payment and eligible closing costs.

What are the income limits for Gadsden County DPA in 2026?

Income limits vary by program and household size. For the HFA program, limits can exceed $98,000 for smaller households and higher for families of 3+. Local SHIP limits are based on HUD area median income tiers (e.g., 50% to 120% AMI). Check eligibility to confirm your specific limit.

Is the Gadsden County down payment assistance forgivable?

Terms depend on the specific program. The HFA "Big Splash" assistance is a 0% interest, deferred second mortgage that is not forgivable; it is repaid upon sale, refinance, or transfer. Local SHIP terms vary and may offer forgiveness after a set period of residency.

Do I have to be a first-time homebuyer?

Yes, generally. A first-time homebuyer is defined as anyone who has not owned a primary residence in the past three years. Exceptions may apply for qualified Veterans using the HFA program or buyers purchasing in specific federally designated Targeted Areas.

Can I use the funds for closing costs?

Yes. The assistance funds can typically be used for both the down payment and eligible closing costs, such as prepaid items, lender fees, and title charges. This significantly reduces the total cash-to-close required from the buyer.

What is the maximum home price allowed in Gadsden County?

Purchase price limits apply to ensure the program serves the community effectively. For government loans (FHA/VA/USDA) under the HFA program, the purchase price limit in Gadsden County is currently $544,232 for non-targeted areas.

How does the HFA "Big Splash" program work?

This program offers a 30-year, 0% interest second mortgage of up to $10,000, paired with a 30-year fixed first mortgage. The second mortgage is deferred, meaning you make no monthly payments on it until you sell the home, refinance, or transfer title.

Are there waiting lists for Gadsden County housing assistance?

Local SHIP funds are subject to annual budget cycles and may have a waiting list when funds are fully committed. However, the HFA program is continuous as long as bond funds are available. It is recommended to check eligibility early to secure your reservation.

What credit score is needed for Gadsden County DPA?

While the county programs themselves have criteria, you must also meet the credit requirements of the first mortgage lender (FHA, VA, USDA, or Conventional). Most participating lenders look for a credit score of 640 or higher to qualify for these combined programs.

How do I apply for the program?

You do not apply directly to the county for all options. Instead, you must get pre-qualified with a participating lender who can reserve the funds for you. Complete the eligibility form to connect with a loan officer who can check your eligibility and guide you through the process.

Stop Renting. Start Owning.

Funds are limited for the 2026 fiscal year. Don't leave money on the table—check your eligibility for up to $10,000 in assistance today.

See If You Qualify

No impact on your credit score to check.

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