Florida’s First Time Homebuyer Programs
www.BrevardAccess.com - Contact an agent to get qualified.

First Time Homebuyer Programs  and non-First Time buyers in "Go Zone" Brevard County

Florida’s First Time Homebuyer Program (FTHB) offers 30-year fixed interest rate mortgage loans to first time homebuyers. However, if you are not a first time homebuyer, you may still be eligible for this program if you are purchasing a home in a GO Zone county like Brevard County, or other federally designated targeted area. This program uses income limits and purchase price limits to determine eligibility. For Brevard County Florida 1-2 people the income limit is $73,560.00 and 3 or more people the income limit is $85,820.00 .  There are also purchase price limits; for Brevard County Florida the purchase price limit is $421,545.

GoZone: Congress recently passed the Gulf Opportunity (GO Zone) Act in response to the devastation caused by hurricane Wilma. This Act has waived the first-time homebuyer requirement and has increased the income and purchase price limits in 13 South Florida counties through December 31, 2010. Those 13 counties are Brevard, Broward, Collier, Glades, Hendry, Indian River, Lee, Martin, Miami-Dade, Monroe, Okeechobee, Palm Beach and St. Lucie.

Brevard County also has a First Time Homebuyer Program that is designed to assist low, median income families achieve affordable home ownership.

Down Payment Assistance (DPA)

The single largest barrier to homeownership is lack of down payment funds. Florida’s First Time Homebuyer program features two down payment and closing cost assistance programs that provide borrowers greater access to homeownership opportunities.

In conjunction with the First Time Homebuyer program, there are two down payment and closing cost assistance programs in the form of second mortgage loans, and up-front cash assistance to help eligible homebuyers cover their down payment and closing costs. Based on the information you provid, you may be eligible to receive ONE of the following:

Florida Assist (up to $10,000 available).

HAMI Program (up to $5,000 available)

Three Percent (3%) Cash Option
This option, in the form of cash assistance, provides borrowers with 3 percent of the loan amount applied toward down payment and closing costs.

Florida requires the completion of a Homebuyer Counseling Course for all borrowers receiving First Time Homebuyer Program assistance. Homebuyer counseling addresses vital information such as money management, spending and savings plans. Florida Housing believes that Homebuyer Education will empower you to make more informed decisions and enable you to effectively manage your resources leading to greater financial stability.


The above information is for educational purposes only and may not be current. Readers must contact a tax profession for advice and should not rely on the above information to make any decisions.

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