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Brevard County Housing Programs - Purchase Assistance Program

Brevard County Purchase Assistance Program is designed to assist very low, low & median income families achieve affordable home ownership.


Unit Eligibility

  • Must be located in Brevard County.
  • Can be a new home or an existing home. The assistance may not be used to purchase a manufactured home.
  • It will be the responsibility of the buyer to hire a reputable home inspector to identify any code-related repairs such as roof, plumbing and electrical.
  • Proposed monthly mortgage payment cannot exceed buyer's affordability ratios (front-end 34%/back-end 42%). Contact C.H.I. for these amounts. (321) 253-0053.

Homebuyer Eligibility

  • First time homebuyers only (not having ownership interest in the past three (3) years).
  • Must have ability to secure first mortgage financing:
  • Conventional, FHA, VA are all acceptable; 30 year fixed rate. MORTGAGE LOAN MUST BE AT CURRENT MARKET INTEREST RATES. If buyer cannot get a mortgage loan at a current interest rate, C.H.I will first assist the buyer in correcting credit issues.
  • Liquid assets (savings, checking, CD's, treasury bonds, money market, savings bonds, etc.) can not exceed $8,000.
  • Must attend a 5 hour Homebuyer Education workshop. Contact C.H.I. for date and time, (321) 253-0053.
  • Maximum sales price and income limits apply. Contact C.H.I. for these amounts at (321) 253-0053.

Homebuyer's Contribution

  • Applicants must make a MINIMUM GOOD FAITH CONTRIBUTION, based upon their income bracket:
  • Out of Pocket expenses paid before closing are considered as part of the applicant's contribution (i.e. appraisal fees, credit reports, deposits, homeowner's insurance premium, etc);
  • At closing, the minimum contribution must be satisfied on the settlement statement.
  • The lender may require more contribution.
Income Limits Minimum Contribution
Very Low (50% or less of AMI) $500
Low and Moderate Income (51% - 120% of AMI) $1000

Maximum Assistance Level

Income Limits Maximum Assistance
Very Low(50% or less of AMI) $22,400
Low (51% - 80% of AMI) $12,400
Moderate(81% - 120% of AMI) $5,400

Please Note: The actual amount of assistance provided would be the minimum needed to get an affordable housing unit. WE WILL NOT OVER SUBSIDIZE ANY HOUSEHOLD.

Second Mortgage

The assistance provided to each homebuyer will be in the form of a second mortgage. The second mortgage will be recorded in the Public Records of Brevard County. It is a Deferred Payment Loan (DPL) at zero percent (0%) interest or repayable for moderate income clients.

In the event of default the loan must be repaid in full to Brevard County.

For more information:


Lisa Walters or Dorcy Normandia
PO Box 410522
Melbourne, FL 32941-0522
Phone: 321-253-0053
Fax: 321-253-1575
www.chibrevard.org

Housing & Human Services Department

Viera Government Center
2725 Judge Fran Jamieson Way
Building B, Suite 106
Viera, FL 32940

Office: (321) 633-2007
Fax: (321) 633-2170
 
South area toll free: 
(321) 952-4700 x2007
Email Brevard Housing & Human Services Director Email Ian Golden, Director
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Board of County Commissioners
2725 Judge Fran Jamieson Way  Viera, FL 32940
Tel: (321) 633-2000
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