Cape Coral Down Payment and Closing Cost Assistance (SHIP)
Cape Coral's SHIP housing plan allows up to $80,000 for low and moderate income buyers of existing homes, forgiven after 10 years. Status: funding-dependent. The City awards SHIP money through non-profit agencies, so individuals can't apply to the City directly; confirm which agency has funds before you shop.
Down Payment/Closing Cost Assistance (SHIP LHAP)
Limited funds
City of Cape Coral
Amount
Up to $80,000
Kind of help
Forgivable second loan
Who it's for
Low and moderate income buyers purchasing existing homes in Cape Coral
Also note
HUD-approved first-time homebuyer counseling; full home inspection; first-qualified first-served
From FHFC-approved Cape Coral LHAP 2025-28: 0% deferred, 10-year term, forgiven at end. City Housing & Grants page says SHIP/CDBG funds are awarded to non-profit agencies and individuals cannot apply directly; current homebuyer intake channel not confirmed.
Want a heads-up? Down Payment/Closing Cost Assistance (SHIP LHAP) draws from a limited pot that can empty out. We'll tell you when a new round is funded.
Where to apply (and why it's confusing)
The City's 2025-28 Local Housing Assistance Plan, approved by Florida Housing, includes a down payment and closing cost strategy. But the City's Housing & Grants page says SHIP and CDBG funds go to non-profit agencies and that individuals cannot apply directly. We could not confirm which agency currently takes homebuyer intake. Call the City Planning Division (Housing & Grants) and ask which partner agency is administering purchase assistance this year and whether it has funding.
How the assistance works
The plan sets a maximum of $80,000 as a 0% deferred loan with a 10-year term, forgiven at the end. Living in the home for the full 10 years means nothing is owed. Only existing homes qualify under this strategy, not new construction.
Who qualifies?
Low and moderate income households buying an existing home in Cape Coral.
Completion of HUD-approved first-time homebuyer counseling.
A full home inspection.
Awards are first-qualified, first-served.
The plan summary reviewed here does not list exact income caps or a price limit.
With Hometown Heroes and county help
Hometown Heroes allows a stand-alone program from another agency in third-lien position; a participating lender confirms whether Cape Coral's assistance can go there. Lee County's own SHIP plan and the OAHO program ($10,500 in Lee) are the other local options; the agency and lender confirm whether City and County help can be combined.
Questions for the partner agency
Is purchase assistance funded this year, and how many awards are left?
What are the income limits and is there a price cap?
Which HUD-approved counseling providers are accepted?
How does the 10-year forgiveness work if you sell or refinance early?
Can the award be used with a Hometown Heroes or OAHO first mortgage?
Getting written answers before you sign a contract protects your deposit if funding falls through.
If the City's partner agency has no money this cycle, Lee County's list and the open OAHO program are the fallback options, so it is worth starting more than one conversation at the same time instead of waiting on a single answer.
Our summary of the official program page as of November 2026. Funding and terms change; get the current version from the program or a participating lender. Florida Down Payment Assistance has no tie to this program.
Saved. Watch your phone and inbox.
When this program restarts, you'll be among the first to know. Meanwhile, want to see what's open today?
Hi, I'm Lisa. See if you're eligible for down payment assistance in Florida. I'll walk you through six quick questions, and you'll see your result before you leave the page.
