Cape Coral's SHIP plan allows up to $80,000 in forgivable down payment and closing cost help on existing homes.
What does Cape Coral's SHIP plan offer?
The City of Cape Coral Planning Division (Housing & Grants) holds a Local Housing Assistance Plan for 2025-28, approved by Florida Housing, that includes Down Payment/Closing Cost Assistance of up to $80,000. The money is a 0% deferred loan with a 10-year term, forgiven at the end. It is meant for low and moderate income buyers purchasing existing homes in Cape Coral, and requires HUD-approved first-time homebuyer counseling and a full home inspection. Funds are awarded first-qualified, first-served.
The catch is intake. The City's Housing & Grants page says SHIP and CDBG funds go to non-profit agencies and that individuals cannot apply directly, and the current homebuyer intake channel was not confirmed. Before you plan around this money, call the City and ask which agency is taking homebuyer files and whether funds are available this year. Get your HUD-approved counseling certificate in hand while you wait, since every Cape Coral file requires it and it is also accepted by most county and state programs. Because funds go first-qualified, first-served, a complete file matters more than an early phone call.
Because the city program is uncertain, Lee County options matter. The county's SHIP Purchase Assistance lists up to $100,000 for very low income buyers, $85,000 for low and $25,000 for moderate, also subject to funding. The OAHO program is open and pays $10,500 in Lee County. Teachers in the School District of Lee County and Cape Coral Police or Cape Coral Fire Department staff can add Florida Hometown Heroes. Compare the layers in the Lee County guide.
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.
From FHFC-approved Lee LHAP 2026-29: 0% deferred, forgiven after 15 years. County also lists HOME DPA (existing homes) and CDBG homeownership assistance. Lee County website blocked automated access, so current status not verified.
Buyers in Cape Coral also have 3 statewide programs to draw on, Florida Hometown Heroes Housing Program among them. Browse every Florida program or let the program search narrow it down.
Nearly every down payment program makes you finish a homebuyer class before closing. These HUD-approved agencies around Lee County teach one or offer one-on-one counseling before you buy.
Agency
Based in
How far
What they offer
Languages
How they meet
Habitat for Humanity of Lee and Hendry Counties, Inc.
From HUD's list of housing counseling agencies. A given program may accept only certain classes.
Which class counts for you? Your loan officer knows which courses each Florida program accepts and can start your pre-approval in the same conversation. Start with the 2-minute check
Cape Coral, asked and answered
How much is Cape Coral down payment assistance?
Up to $80,000 under the City's 2025-28 SHIP plan, as a 0% deferred loan forgiven after 10 years.
Can I apply directly to the City of Cape Coral?
The City says SHIP and CDBG funds are awarded to non-profit agencies and individuals cannot apply directly. Ask the City which agency handles homebuyers.
Does Cape Coral's program cover new construction?
The plan describes assistance for existing homes.
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