CDBG & SHIP Assistance Programs

If you are interested in purchasing a new or existing home within the City of Panama City and meet the requirements, you may be eligible for assistance in one of the following programs:

Gap Finance Program

  • You can receive up to 1/2 of the required down payment and up to $3,000 in closing cost assistance, if eligible.

SHIP Program

  • You can receive full down payment and closing cost assistance, if eligible.

Requirements for Assistance:

  • Must be income eligible
  • Be able to obtain proper financing
  • Must have a minimum of $1,500 to apply towards closing costs
  • Willing to purchase a home in the City of Panama City with a maximum sale price of $150,000
  • Obtain eligible property
  • Mobile or manufactured housing is not eligible through this program

Owner-Occupied Rehabilitation Program

The Owner-Occupied Rehabilitation Program is designed to assist households in restoring their existing home to livable, standard condition. These efforts may include major structural problems such as faulty roofs, bad wiring, plumbing problems, defective heating/cooling systems, etc.

The Rehabilitation Assistance Program will be extended to applicants meeting CDBG/SHIP Program eligibility.

  1. Applicants will be on a first-come, first-serve, first-qualified basis and placed on a waiting list for potential owner-occupied rehabilitation assistance.
  2. All applicants must be very low-, low- to moderate income, earning less than 120% of the area median income for the household size.
  3. Complete and provide documentation of all income, assets, household size, etc. for compliance with State and Federal requirements.
  4. Applicants must provide proof of home ownership to participate in the program.
  5. Applicants are required to have homeowner's insurance on their home.
  6. Property must be located within the City of Panama City.
  7. Property taxes must be current.
  8. Rehabilitation of mobile or manufactured housing is not eligible through this program.