Purchase Assistance Program

Eligible very-low and low-income homebuyers can apply for down payment, closing cost, and repair assistance for new or existing homes located in the City of Cocoa. Assistance is provided on a first come, first ready basis.

Eligible very-low and low-income homebuyers can apply for down payment, closing cost, and repair assistance for new or existing homes located in the City of Cocoa. Assistance is provided on a first come, first ready basis. Maximum assistance per unit is $37,400 for very-low-income and $32,400 for low-income households in the form of a 10-year, 10 percent forgivable deferred-payment loan. *If HOME funds are used, the HOME affordability rules apply over the above affordability periods. Home values cannot exceed $273,000 for existing or new construction homes. Mobile or manufactured homes are not eligible for assistance. The household must have the ability to obtain a 30 year fixed-rate mortgage. To schedule to attend the mandatory homebuyer class contact Community Housing Initiatives at (321) 253-0053. Property must remain owner-occupied after purchase during the affordability term. Total income and assets for all household members must not exceed the following limits for family size. (See chart below.) Pre-1978 Homes are not eligible. The home must be located within Cocoa city limits, contact the Housing & Neighborhood Services Division at (321) 433-8520.