Down-payment Assistance

General Eligibility Requirements: 

  • First-time Homebuyer Program – must not have owned a house in the last 3 years (based on the last 3 years tax returns) to be considered first time buyer except the Veterans
  • The allowed First Mortgage Loan Types includes: 1) Conventional  2) FHA or  3) VA
  • Home buyer Education is required (either online or face to face)
  • Co-signors are NOT allowed
  • Income limits are based on household size and loan type

ASSISTANCE PROGRAMS:

FL Assists:

  • 1st mortgage can be Conventional, FHA, or VA
  • The $7,500 will not be absolved and there are no payments due and no interest is accruing
  • BREVARD County Income and Sales limits:

Loan Type

1-2 Person

3+ Person

Sales Price

FHA and VA

$64,800

$74,520

$271,164

Conventional

$74,520

$77,760

$331,423

$10,000 Second mortgage:

  • 1st mortgage can be Conventional, FHA, or VA
  • Down-payment assistance funds can be used for down-payment and all closing costs and prepaid expenses
  • BREVARD County Income and Sales limits:

Loan Type

1-2 Person

3+ Person

Sales Price

FHA and VA

$64,800

$74,520

$271,164

Conventional

$90,720

$90,720

$331,423

3% GRANT:

  • 1st mortgage can be Conventional
  • 1st mortgage rate is higher than FL Assist
  • BREVARD County Income and Sales limits:

Loan Type

Income on app

Sales Price

Conventional

$90,720

$331,423

4% GRANT:

  • 1st mortgage can be Conventional
  • 1st mortgage rate is higher than 3% GRANT
  • BREVARD County Income and Sales limits:

Loan Type

Income on app

Sales Price

Conventional

$90,720

$331,423