The City of Pensacola’s HOME First Time Homebuyers Program is designed to assist low income families to obtain affordable housing. HOME funds will provide down payment and closing cost assistance up to exceed $10,000, which is offered in the form of a forgivable loan.

Applicants for the HOME First Time Homebuyers Program must allow the local government or its designated representative to verify the gross anticipated household income to determine that the household is qualified as either very low or low income.  The gross anticipated income for the next 12 month period of all persons in the households must be verified and included on an income certification prior to the distribution of HOME funds.

Qualification Requirements:

• Applicant cannot have owned a home or had ownership interest in property in the last three years; 
• Applicant must either be a resident or employed in Escambia County for at least six months prior to application;
• Applicant’s total household income must be within the maximum income eligibility limits;
• Applicant must have satisfactory credit history to secure the home loan.

Frequently Asked Questions:

            ► Do I have to purchase a house within the Pensacola City limits?  Yes, the home must be located with the Pensacola City limits and the home must be built after January 1, 1978.

            ► Can I purchase a new home under this program?  Yes, the home that you purchased can be new or existing.

            ► How does the program help me to purchase a home?  HOME funds will provide down payment and closing cost assistance up to $10,000, which is offered in the form of a forgivable loan.

            ► What is the maximum purchase price?  The maximum purchase price of the home cannot exceed $189,000.

            ► Does this program help me pay the monthly mortgage?  No.

            ► Are there funds currently available under this program?  Yes, limited funds are available.

To inquire about available funds or obtain additional information about the HOME First Time Homebuyer’s Program, contact Jimmie McFall, City of Pensacola Housing Office, (850) 858-0350, or e-mail: Jmcfall@cityofpensacola.com.

For a current list of lenders participating in the HOME First Time Homebuyers Program click here