FHA 203(k) vs. SHIP vs. Hometown Heroes: Which Program Should You Use First?
FHA 203(k) vs. SHIP vs. Hometown Heroes: Which Program Should You Use First?
Florida buyers often qualify for multiple housing programs — but which one should come first? This guide explains how to prioritize 203(k), SHIP, and Hometown Heroes based on your goals, income, and the condition of the property.
Why Order Matters — And What Happens If You Stack Wrong
Florida housing programs are powerful — but not plug-and-play. If you apply out of order or through the wrong lender, you could:
- 🚫 Get denied even if you technically qualify
- 🚫 Miss the chance to combine multiple programs
- 🚫 Delay your closing by weeks or lose your contract
The problem? Each program has different timing rules, lenders, and document needs. Some must be applied for before loan approval. Others must be stacked in the lender’s system to work at the same closing.
💡 Our Rule: The Program That Solves the Biggest Problem Comes First
Your “biggest problem” might be needing funds for renovations, not having down payment money, or needing to lower monthly costs. Whatever it is, that should guide the order.
👉 Next: The most common buyer scenarios — and the best program to start with in each one.
What You Can (and Can’t) Stack — Compatibility Chart
Not all Florida housing programs play nicely together. Some are fully stackable — others depend on lender policy or county rules. Here’s what you need to know:
| Program | Can Be Stacked With | Common Restrictions |
|---|---|---|
| SHIP | Heroes, MCC, 203(k) | Must apply through your county first |
| Hometown Heroes | MCC, SHIP (if county allows) | Must use approved Heroes lender |
| MCC (Tax Credit) | SHIP, Heroes, 203(k) | Must apply during loan pre-approval |
| FHA 203(k) | SHIP, MCC, Heroes | Must be primary loan program |
Each program has its own timeline. Stacking them successfully means starting with the right one first — and ensuring your lender knows how to enter all grants into the loan file.
👉 Final section next: How to get your stacking plan professionally built by The Alpha Order — for free.
One Wrong Step Could Delay Your Deal — Let’s Get It Right.
Timing matters. The wrong grant order or missed lender form can cost you thousands — or your closing. At The Alpha Order, we’ve mastered the rules, the stack, and the system.
We’ll help you decide whether to lead with 203(k), SHIP, or Hometown Heroes — then build your plan and match you with the right lender. The result? Fast closings and $0-to-close deals done right.
Get My Program Plan →The Alpha Order | Florida’s #1 Housing Strategy Team