What property usage is strictly prohibited when utilizing SHIP assistance funds?
Answer
Purchasing investment properties or second homes.
The core purpose of the State Housing Initiatives Partnership Program is directly tied to ensuring access to affordable housing for primary residents of Florida. Therefore, any funds provided through SHIP are strictly earmarked for transactions where the property secured will serve as the buyer's main, year-round dwelling. This requirement explicitly and critically excludes the utilization of assistance funds for acquiring property intended for rental income generation, investment speculation, or use as a vacation or second home. The property must satisfy the owner-occupied standard throughout the agreement period.
Related Questions
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