Brevard County Down Payment Assistance Program

How the 2026 Program Works

The Brevard County SHIP program provides critical funding to help first-time buyers cover down payments and closing costs.

1 Who is Eligible?

First-Time Homebuyers: No home ownership in the past 3 years.
Income Limits: Household income must fall within Very Low (≤50% AMI) or Low (51-80% AMI) limits.
Asset Cap: Liquid assets (savings/checking) must not exceed $15,000.
Education: Must complete a 5-hour homebuyer education workshop.

Minimum Contribution

You must contribute a small amount of your own funds:

Very Low Income $500 Min

Low Income $1,000 Min

2 Eligible Properties

Must be located within Brevard County.
Existing Homes: Max price $304,000. Must pass inspection (major systems ≥5 years life).
New Construction: Max price $329,000.
No mobile homes. Clear WDO/termite report required.

Check Eligibility Now

Why Use the Brevard County SHIP Program?

Beyond the initial $75,000, the program offers long-term financial benefits designed to make homeownership sustainable.

0% Interest Rate

The assistance is provided as a deferred-payment second mortgage with 0% interest, meaning you have no monthly payments on this loan.

Loan Forgiveness

Loans are forgiven over time if you stay in the home. 10 years for loans up to $57k, and 15 years for loans over $57k.

Build Equity Faster

By covering down payments and closing costs, you enter homeownership with significant support, keeping your primary mortgage affordable.

Stop Renting in Brevard County. Start Investing.

With rents rising across Melbourne, Palm Bay, and Titusville, buying a home has never been a smarter financial move. The 2026 SHIP program bridges the gap.

Build Equity: Every payment helps you own more of your home, not your landlord's.
Stable Payments: Lock in your housing costs with a 30-year fixed mortgage. No more surprise rent hikes.
Up to $75,000 Head Start: That's instant purchasing power you don't have to save up for years to get.

Calculate Your Savings

The Cost of Waiting

Average Monthly Rent $1,800+

Money Lost to Rent (5 Years) $108,000+

Program Assistance $75,000

*Estimates based on current market trends. Actual savings depend on specific loan terms.

Step-by-Step Guide to Applying

Navigating the Brevard County Down Payment Assistance Program is easier with a clear roadmap.

1. Confirm Eligibility

Ensure your household income falls within the 2026 AMI limits and your liquid assets are under $15,000.

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2. Homebuyer Education

Register for and complete the required 5-hour First Time Homebuyer Workshop.

3. Secure a Lender

You must qualify for a 30-year fixed-rate first mortgage. We help coordinate the documentation between your lender and the county.

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4. Find a Home

Shop for eligible homes under the $304,000 (existing) or $329,000 (new construction) price caps.

Start Your Application Steps

Frequently Asked Questions

Do I have to pay the down payment assistance back?

The assistance is structured as a deferred payment loan. If you remain in the home for the full term (10 or 15 years depending on the amount), the loan is forgiven. If you sell or refinance before that time, you may need to repay a portion of it.

Can I use this program to buy a condo or townhome?

Yes, as long as the property is located in Brevard County, meets the price limits ($304,000 for existing homes), and passes the required inspections. Mobile homes are not eligible.

How much cash do I need to have saved?

You need a minimum buyer contribution of $500 (Very Low Income) or $1,000 (Low Income). However, your total liquid assets (savings, checking, etc.) cannot exceed $15,000 to remain eligible.

Does this program affect my credit score?

Checking your eligibility here does not impact your credit. When you proceed with a formal mortgage application with a lender, they will perform a credit check. You generally need to qualify for a standard FHA, VA, or Conventional loan to use this program.