For residents of Brevard County, Florida, or those considering a move to this dynamic region, the Brevard County Housing Grant represents a tool for fostering affordable homeownership. As the county continues to grow, ensuring that housing remains accessible to families of all income levels is essential for building a sustainable and inclusive community. This program supports first-time homebuyers by easing the financial challenges associated with purchasing a home, strengthening the fabric of the community while addressing the need for equitable housing opportunities.

Program Benefits and Eligibility

The Housing Grant functions as a second mortgage, providing financial assistance to cover down payments and closing costs. The program aims to reduce the upfront expenses that often prevent individuals and families from achieving homeownership. Depending on income, eligible applicants may receive up to $72,000 if their household earns 50% or less of the Area Median Income (AMI). For households earning between 51% and 120% of the AMI, the maximum loan amount is $57,000. This targeted assistance ensures that lower- and moderate-income families can find affordable and quality housing in Brevard County.

One of the program’s most attractive features is its affordability. The Housing Grant offers a 0% interest rate and requires no monthly payments. The loan is forgivable after 15 years. Furthermore, the homeowner must continue living in the property as their primary residence during this time. If the property is sold, leased, or refinanced, full repayment is required. This also applies if the property is no longer the primary residence before the loan term ends. This structure promotes long-term homeownership and stability.

Applicants must also contribute a minimum down payment from their own funds to encourage investment in their new homes. For very low-income households earning 50% or less of AMI, the minimum investment is $500. For those with incomes between 51% and 120% of AMI, the requirement is $1,000. These contributions give buyers a stake in their property. Moreover, they make the path to ownership more accessible through the Housing Authority of Brevard County.

Property Types and Income Requirements

The program supports a range of property types, including single-family homes, townhomes, and condominiums. Eligible properties must be located within Brevard County. New homes must be priced at $329,000 or less. Existing homes must be priced at $304,000 or less. Existing homes require inspections to confirm they meet code-related safety and structural standards. Key requirements include functional roofing, plumbing, and electrical systems with a minimum of five years of usable life. Homes built before 1978 require lead-based paint inspections, and properties with lead hazards are ineligible.

Income eligibility is a critical component of the Housing Grant. The program is designed to assist first-time homebuyers who have not owned a home in the past three years. Applicants must complete a homebuyer education course through the Community Housing Initiative. After, they must also meet specific financial criteria, including limits on liquid assets.

The Brevard County Housing Grant provides more than just financial help. It helps preserve affordable housing for current and future residents. By supporting homeownership, the program fosters a balanced, inclusive housing market. This ensures Brevard County remains welcoming for families of all backgrounds.

If you’re looking for homes for sale in Brevard County, this grant can help make homeownership more accessible. To apply or learn more, contact the Community Housing Initiative or visit the county’s housing program website.

Target Area

The Brevard County Housing Grant targets properties within Brevard County, Florida. This area is close to major attractions and urban centers. It lies along Florida’s east coast, near Orlando. The Kennedy Space Center is about 35 miles away. Cocoa Beach is less than an hour’s drive. Brevard County boasts diverse amenities. These include the Merritt Island National Wildlife Refuge. The Avenue Viera shopping complex is also popular. The area offers a blend of natural beauty and modern conveniences.

The county’s Area Median Income (AMI) is approximately $74,900, which provides a benchmark for determining housing affordability under the grant.

Median home values in Brevard County are around $350,000. They have been steadily appreciating due to growing demand and regional development. Investing here offers the chance to benefit from rising property values. The area also provides access to desirable locations and community resources. The Housing Authority of Brevard County helps first-time buyers find stable, affordable housing. This region is set for continued growth and economic opportunity.

Higher Income Borrowers

For higher-income borrowers who may not qualify for the Brevard County Housing Grant, Housing Nonprofit (HNP) provides a valuable alternative. HNP offers below-market interest rate programs. As a licensed mortgage loan originator, HNP works with 19 lenders nationwide. This ensures competitive rates for borrowers of all income levels. By partnering with a nonprofit, borrowers benefit from a mission-driven approach. The focus is on reducing costs, not maximizing profits. This often results in lower origination fees and reduced interest rates. Borrowers save money over the life of the loan. Partnering with HNP makes homeownership more affordable. It also ensures resources are reinvested to help more families. For those wanting to reduce mortgage expenses, HNP offers a trusted and cost-effective solution in today’s competitive market.

Sources of Funds

Administered by the Brevard County Housing and Human Services Department, the grant has become vital in supporting equitable housing in the county. The program is designed to tackle the unique housing challenges in the region.

The program helps first-time homebuyers secure stable, long-term housing. It also addresses economic barriers. Additionally, by focusing on Brevard County, the housing authority aims to strengthen community stability, encourage homeownership, and create a balanced housing market. This benefits both current residents and future generations. Furthermore, through this targeted approach, the program reinforces the county’s commitment to growth that is inclusive and sustainable.

Considerations For Brevard County – Who Qualifies For Housing Assistance

While Brevard County offers many advantages for homebuyers, including affordability and proximity to major attractions, it is important for potential homeowners to be aware of certain challenges that may impact their investment. Therefore, who qualifies for housing assistance is a question often asked by individuals seeking support in navigating these challenges. In addition, crime rates in some areas of the county are higher than those in neighboring cities or other parts of Florida, which may influence perceptions of safety and community stability.

Buyers are encouraged to research specific neighborhoods and review local crime data to make informed decisions. Furthermore, fluctuations in property values can occur due to economic shifts, changes in infrastructure development, or an over-saturation of the housing market in certain areas. Ultimately, for long-term buyers, understanding these factors is crucial to ensuring a wise investment in Brevard County’s housing market.

Schools, Health, and Wellbeing

Brevard County, Florida, is home to a diverse array of public schools that perform competitively within the state. According to Niche’s 2025 rankings, Brevard Public Schools is rated 27th out of 67 school districts in Florida, indicating a solid standing in educational quality.

Niche

Additionally, SchoolDigger places the district 30th out of 68, further highlighting its commendable performance.

SchoolDigger

These rankings suggest that students in Brevard County have access to educational opportunities that are on par with, or exceed, those in many other regions across the state.

In terms of health and well-being, Brevard County offers residents access to a variety of health services and amenities. The County Health Rankings & Roadmaps report indicates that Brevard County ranks 28th out of 67 counties in Florida for health outcomes, reflecting a moderate position in overall health metrics.

County Health Rankings & Roadmaps

The county provides numerous healthcare facilities, including hospitals and clinics, ensuring that residents have access to essential medical services. Additionally, the presence of farmers’ markets and health-focused grocery stores contributes to the availability of nutritious food options, supporting a healthy lifestyle for the community.

Brevard County has garnered attention in various periodicals for its livability and amenities. U.S. News & World Report’s “Healthiest Communities” rankings place Brevard County with an overall score of 57 out of 100, highlighting its strengths in population health and access to care.

U.S. News & World Report

These recognitions underscore the county’s commitment to providing a high quality of life for its residents through robust educational systems and accessible health services.

Combining a Housing Grant with FHA or Conventional Financing

When purchasing an affordable home in Brevard County, understanding the differences between conventional and FHA financing is crucial, especially for those applying for a housing grant. While the grant can significantly reduce upfront costs by covering portions of the down payment and closing costs, it is not designed to fully finance the home. Buyers will still need a primary mortgage to cover the remaining balance.

FHA Financing

FHA (Federal Housing Administration) loans are often favored by first-time homebuyers due to their lower down payment requirements and flexible credit standards. In fact, borrowers can typically qualify with a down payment as low as 3.5% of the purchase price, making it an attractive option for those with limited savings. Additionally, FHA loans allow for higher debt-to-income ratios compared to conventional loans, which can benefit buyers in Brevard County, where the Area Median Income (AMI) might still leave room for financial constraints. However, it’s important to note that FHA loans require mortgage insurance premiums (MIP) for the life of the loan, which adds to the monthly cost.

Conventional Financing

Conventional loans are not backed by the government and usually require higher credit scores and down payments—often starting at 5%. However, these loans can be a better long-term option as they generally offer more competitive interest rates and do not require mortgage insurance once the loan-to-value ratio drops below 80%. For those in higher income brackets or with stronger financial profiles, conventional loans may provide better overall savings.

Combining Financing with a Housing Grant

A housing grant in Brevard County is a valuable resource for reducing initial expenses. However, it is typically applied as a second mortgage. Therefore, buyers should choose their primary mortgage carefully. Additionally, they must consider their long-term financial goals. Finally, understanding the requirements of both loan types is essential to maximize affordability.

Choose Your Lender Carefully

When working with traditional mortgage lenders or brokers, it’s important to understand that their earnings are often tied to the loan amount, creating a potential conflict of interest when using a housing grant. Since a housing grant reduces the amount a borrower needs to finance, it can also reduce the lender’s or broker’s commission, potentially influencing their willingness to fully support or prioritize grant-based financing. In contrast, partnering with Housing Nonprofit eliminates this concern.

As a mission-driven organization, Housing Nonprofit focuses on providing affordable financing options tailored to the borrower’s needs, rather than maximizing profits. By bundling a mortgage with a housing grant through Housing Nonprofit, borrowers benefit from lower overall costs, below-market interest rates, and a transparent process that prioritizes their financial well-being.

Additionally, this approach ensures that the grant and the mortgage work together seamlessly. As a result, homeownership becomes both affordable and sustainable. Furthermore, the combination of these financial tools provides borrowers with long-term stability and peace of mind. In turn, they can enjoy a secure financial future. Consequently, Housing Nonprofit’s strategy supports both immediate and long-term homeownership goals.

Homebuyer Education and Counseling in Brevard

Homebuyer education and housing counseling are invaluable tools for individuals who do not yet meet eligibility requirements for a mortgage or housing grant. These resources, particularly when provided by HUD-certified organizations, offer tailored guidance to help prospective buyers address barriers to homeownership. For those currently ineligible, they provide actionable steps to improve financial readiness and meet eligibility criteria over time.

A HUD-certified first-time homebuyer education course typically covers essential topics like understanding credit scores, budgeting for homeownership, navigating the mortgage process, and evaluating loan options. These courses are often part of Brevard County events designed to demystify the homebuying process, equipping participants with the knowledge needed to make informed decisions. Graduates of these courses often receive a certificate of completion, which can be a requirement for accessing housing grants or specialized loan programs.

Housing counselors certified by HUD can help resolve common eligibility issues such as poor credit history, high debt-to-income ratios, or insufficient savings for a down payment. They provide personalized action plans to help individuals build credit, reduce debt, and establish financial habits that support homeownership goals. Counselors can also identify local assistance programs or resources that may further enhance an applicant’s ability to qualify for a mortgage or grant.

The HUD seal of approval is an important factor when choosing an education or counseling provider. Specifically, HUD certification ensures that the organization meets rigorous standards for quality, impartiality, and effectiveness. Additionally, this certification guarantees that the advice and resources provided are in the borrower’s best interest and not influenced by profit motives. This is especially important in an industry where financial stakes are high. Furthermore, working with a HUD-certified provider gives applicants confidence in the reliability of the guidance they receive. Ultimately, it helps pave the way for successful homeownership.

Housing Options

In Brevard County, Florida, several areas offer more affordable housing options, each with unique features and convenient access to local amenities:

Sharpes: Located near the Indian River and adjacent to U.S. Route 1, Sharpes provides residents with easy access to the Kennedy Space Center, approximately 15 miles to the north. The median home price in Sharpes is $205,049, making it one of the most affordable communities in the county.

Flyhomes

Port St. John: Situated between Cocoa and Titusville, Port St. John is close to the Indian River and is accessible via Interstate 95 and U.S. Route 1. This community offers a median home price of $274,582, providing affordability along with proximity to the Space Coast Regional Airport and the Canaveral National Seashore.

Flyhomes

Palm Shores: Nestled along the western shore of the Indian River, Palm Shores is near the Pineda Causeway, offering direct routes to the Atlantic beaches. With a median home price of $342,150, it provides a balance between affordability and access to recreational areas like the nearby Wickham Park.

Flyhomes

Micco: Located in the southern part of the county, Micco is adjacent to the St. Sebastian River Preserve State Park and accessible via U.S. Route 1. The median home price here is $167,880, making it an attractive option for budget-conscious buyers seeking a more rural setting with natural attractions.

Flyhomes

Rockledge: As one of the oldest cities in the county, Rockledge is situated along the Indian River and is accessible via Interstate 95 and U.S. Route 1. With a median home price of $320,297, it offers affordability along with proximity to the Cocoa Village Historic District and the Rockledge Regional Medical Center.

Flyhomes

These areas provide a range of affordable housing options in Brevard County, each with convenient access to major roads, landmarks, parks, and other amenities. They also offer proximity to Brevard County events, catering to diverse preferences and lifestyles.

Sources

For more information about the Brevard County Housing Grant and related programs, please contact:

Brevard County Housing and Human Services Department
2725 Judge Fran Jamieson Way, Building B, Suite 106
Viera, FL 32940
Phone: (321) 633-2007
Website: Brevard County Housing Programs

This article was prepared by the Housing Nonprofit staff based on information provided by the Brevard County Housing and Human Services Department. For further details, visit their official website linked above.

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References

For additional details about the target area, please refer to these resources from the Brevard County Wikipedia page:

• Brevard County, Florida
• List of cities and towns in Brevard County
• Kennedy Space Center
• Merritt Island National Wildlife Refuge

FAQs

1. What is the Clearwater housing market like right now? 

The Clearwater housing market is experiencing steady growth with affordable options for those looking to buy a home. The demand for homes remains high, but buyers can still find reasonably priced homes, especially with the assistance of local programs.

2. How can I qualify for affordable housing in Clearwater, FL? 

To qualify for affordable housing in Clearwater, FL, you’ll need to meet income eligibility requirements, typically being within a certain percentage of the Area Median Income (AMI), and may need to complete a homebuyer education course.

3. What is a housing grant, and how does it work? 

A housing grant helps with down payments and closing costs for eligible homebuyers. It acts as a second mortgage, often with no interest or monthly payments, and is forgivable after a set period if you remain in the home.

4. Who qualifies for housing assistance in Brevard County? 

Housing assistance in Brevard County is available to low-income residents, first-time homebuyers, and those meeting specific income limits. You may need to complete a homebuyer education course and submit financial documentation.

5. What does housing counseling entail in Brevard County? 

Housing counseling in Brevard County provides expert guidance on budgeting, improving credit, understanding mortgage options, and preparing for homeownership. It’s particularly helpful for those struggling to meet mortgage requirements.