Sarasota County Housing Assistance Info
Sarasota Home
eHousingPlus Administered

"Own a Home Opportunity" (OAHO) Program

Receive $10,500 in down payment assistance with a competitive 30-year fixed first mortgage.

Check Eligibility

Administered by eHousingPlus. Lender-originated.

$10,500
Assistance Amount

Down payment & closing costs

0%
Interest Rate

On the second mortgage

30 Years
Loan Term

Deferred repayment (not forgiven)

Program Overview

The Sarasota County "Own a Home Opportunity" (OAHO) program is a separate, lender-originated initiative administered through eHousingPlus. Unlike the County’s direct SHIP program, OAHO combines a competitive 30-year fixed first mortgage with a second mortgage for down payment and closing cost assistance.

How the Loan Works

  • First Mortgage: You receive a standard 30-year fixed-rate mortgage through a participating lender.
  • Second Mortgage Assistance: Eligible borrowers receive up to $10,500 in assistance as a 0% interest, deferred second mortgage.
  • Repayment: The assistance is deferred for 30 years but is repayable. It is not forgiven like the standard SHIP grant. Repayment is due at maturity, refinance, sale, or if the home ceases to be your primary residence.

Eligibility Requirements

  • Credit Score Minimum FICO credit score requirements typically apply (often 640+, subject to lender guidelines).
  • First-Time Homebuyer Generally required (defined as not owning a home in the last 3 years), though exceptions may exist for veterans or in targeted areas.
  • Homebuyer Education Completion of a HUD-approved homebuyer education course is required.
  • Lender Originated You do not apply through the County portal. You must apply directly with a participating lender.

Purchase Price Limits

The sales price of the home cannot exceed these limits to qualify for the OAHO program.

Area Type Maximum Price
Non-Target Areas $561,333
Target Areas $686,073

*Limits are subject to change. Confirm with a participating lender and current eHousingPlus guidelines.

How to Apply

The application process for OAHO differs from the standard County SHIP program.

1

Find a Participating Lender

This is a lender-originated program. You must work with a loan officer who participates in the Sarasota County OAHO program (via eHousingPlus).

2

Check Eligibility

Your lender will determine if you meet the credit, income, and purchase price limits for the program.

3

Reserve Funds

The lender will reserve the loan and assistance funds on your behalf. You do not apply through the Sarasota County HERO portal.

Frequently Asked Questions

Common questions about the OAHO Program.

What is the difference between SHIP and OAHO?
The standard SHIP program (HERO) offers up to $75,000 as a forgivable loan. The OAHO program offers $10,500 as a repayable deferred loan. OAHO is lender-originated, meaning you apply directly with a mortgage company, whereas SHIP often has a specific County application portal/cycle.
Is the $10,500 assistance forgivable?
No. Unlike the standard SHIP award, the OAHO assistance is typically a 30-year deferred second mortgage. It has 0% interest, but the principal must be repaid at the end of the term, or if you sell, refinance, or move out.
How do I apply for OAHO?
You do not apply through the Sarasota County government website. Instead, you must contact a participating lender who offers the program. The lender originates the loan and reserves the assistance funds for you.
What is the purchase price limit?
The purchase price limits are generally $561,333 for Non-Target areas and $686,073 for Target areas. These amounts are subject to change, so always verify with your lender.