Brevard County
Housing Finance Authority of Brevard County
Home Sweet Home Program
ELIGIBLE AREAS – Brevard County
ELIGIBILITY CRITERIA* –
DOWN PAYMENT ASSISTANCE – 30 Year Deferred, 0.00% second mortgage, up to $15,000. Must be used for down payment and closing cost. The second mortgage is never forgiven and must be repaid when the first mortgage is refinanced, sale, short-sale, foreclosure or if the borrower ceases to live in the property.
INCOME CRITERIA - Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
FHA, USDA-RD and VA Loans:
All household sizes: $149,550 (target and Non- target areas)
MAXIMUM SALES PRICE - This must include everything paid by the buyer or on the buyer's behalf.
Non-Targeted Area $510,939
Targeted Area $624,481
WHAT IS A NON-TARGETED AREA AND TARGETED AREA?
A majority of Brevard County is considered a non-target area.However, there are targeted areas identified by HUD (by specific census tract number) as areas of economic distress or have low loan origination. When you purchase a home in a Targeted Area you do not need to be a first-time buyer, some of the income limits are higher and the purchase price limit is higher. To view a list of a HUD approved Targeted Area census tracts in Brevard County and maps,
click on this link.
HOMEBUYER EDUCATION – First-Time Homebuyers must complete a Program-approved pre-purchase homebuyer education course. Please speak with a participating lender for details.
ELIGIBLE PROPERTY – New or existing, one to four units, detached or attached, condos, townhomes.
CREDIT SCORE - FICO mid score must be 640 or higher.
Housing Finance Authority of Brevard County
Home Sweet Home Program
ELIGIBLE AREAS – Brevard County
ELIGIBILITY CRITERIA* –
- Buyers and their spouses (occupant and non-occupant) must be first-time buyers and must be able to permanently reside in the US.
- Buyers must live in the property they purchase as their principal residence.
- All applicants must be considered irrespective of age, race, color, religion, national origin, sex, marital status, military status or physical handicap.
- Buyers must occupy the property purchased within 60 days of closing.
- Buyers must live in the property as their principal residence and the property may never be rented.
DOWN PAYMENT ASSISTANCE – 30 Year Deferred, 0.00% second mortgage, up to $15,000. Must be used for down payment and closing cost. The second mortgage is never forgiven and must be repaid when the first mortgage is refinanced, sale, short-sale, foreclosure or if the borrower ceases to live in the property.
INCOME CRITERIA - Household income is considered for ALL Borrower(s), spouses and anyone 18 years or older.
FHA, USDA-RD and VA Loans:
All household sizes: $149,550 (target and Non- target areas)
MAXIMUM SALES PRICE - This must include everything paid by the buyer or on the buyer's behalf.
Non-Targeted Area $510,939
Targeted Area $624,481
WHAT IS A NON-TARGETED AREA AND TARGETED AREA?
A majority of Brevard County is considered a non-target area.However, there are targeted areas identified by HUD (by specific census tract number) as areas of economic distress or have low loan origination. When you purchase a home in a Targeted Area you do not need to be a first-time buyer, some of the income limits are higher and the purchase price limit is higher. To view a list of a HUD approved Targeted Area census tracts in Brevard County and maps,
click on this link.
HOMEBUYER EDUCATION – First-Time Homebuyers must complete a Program-approved pre-purchase homebuyer education course. Please speak with a participating lender for details.
ELIGIBLE PROPERTY – New or existing, one to four units, detached or attached, condos, townhomes.
CREDIT SCORE - FICO mid score must be 640 or higher.
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WHAT'S THE NEXT STEP?
If you think you qualify for any of the programs listed based upon the criteria above, contact a participating loan officer to get pre-approved for a mortgage.
Approved Lender List
WHAT'S THE NEXT STEP?
If you think you qualify for any of the programs listed based upon the criteria above, contact a participating loan officer to get pre-approved for a mortgage.
Approved Lender List