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Beautiful modern home in Cocoa, Florida available through the City of Cocoa Purchase Assistance Program
2026 Guidelines & Funding Now Active

City of Cocoa Purchase Assistance Program

Receive up to $37,400 in forgivable down payment and closing cost assistance.

Check Eligibility
0% Interest Loan
No Monthly Payments
$37,400
Max Assistance (Very-Low Income)

For down payment, closing costs & repairs.

$32,400
Max Assistance (Low Income)

Based on 51%–80% AMI.

Forgivable
Deferred Payment Loan

0% interest. Forgiven over 10 years.

How the Program Works

The City of Cocoa Purchase Assistance Program helps eligible first-time homebuyers purchase a home within Cocoa city limits. The assistance acts as a "silent second mortgage" with 0% interest and no monthly payments, forgiven annually as long as you live in the home.

Borrower Eligibility

  • First-time homebuyer (no ownership in last 3 years)
  • Must qualify for a 30-year fixed first mortgage
  • Must complete a HUD-approved homebuyer class
  • Minimum contribution: $500 (Very Low) or $750 (Low)

Property Requirements

  • Must be within Cocoa city limits
  • Max purchase price ~$273,000 (Subject to current caps)
  • No mobile or manufactured homes
  • No homes built prior to 1978

2026 Income Limits

To qualify, your total household income must be at or below these limits based on family size.

Household Size Max Income
1 Person $52,950
2 People $60,500
3 People $68,050
4 People $75,600
5 People $81,650
8 People $99,800

Funds are limited and distributed on a first-come, first-ready basis.

Modern home interior in Cocoa, Florida eligible for the City of Cocoa Purchase Assistance Program

Eligible Property Guidelines

To secure the City of Cocoa purchase assistance, the property you choose must meet strict guidelines regarding location, condition, and price.

Location Rule

Must be strictly within Cocoa City Limits. Unincorporated Brevard County addresses do not qualify.

Price Cap

Maximum purchase price cannot exceed $273,000 for either existing or new construction homes.

Condition

Homes built before 1978 are ineligible. Existing homes must have systems with 5+ years of remaining life.

Exclusions

Mobile homes, manufactured housing, and investment properties are strictly excluded.

Your Path to Homeownership in Cocoa, FL

Follow this proven roadmap to secure your down payment assistance and buy your dream home in 2026.

01
1

Check Eligibility

Use our instant tool below to verify if your income and household size meet the 2026 City of Cocoa guidelines.

02
2

Get Pre-Approved

Secure a pre-approval for a 30-year fixed mortgage (FHA, VA, or Conventional) from a participating lender.

03
3

Attend CHI Class

Complete the mandatory HUD-approved homebuyer education workshop scheduled through Community Housing Initiatives.

04
4

Find a Home

Locate an eligible property within Cocoa city limits under the $273,000 price cap and submit your offer.

Start Your Journey Now

Frequently Asked Questions

How much down payment assistance can I get in Cocoa, FL?
Eligible buyers can receive up to $37,400 if classified as very-low income, or up to $32,400 for low-income households. This assistance is designed to cover your down payment, closing costs, and potentially necessary repairs to ensure the home is safe and habitable upon move-in.
Who is eligible for the City of Cocoa Purchase Assistance Program?
To qualify, you must be a first-time homebuyer (defined as having no ownership interest in a home within the last three years). Additionally, you must qualify for a fixed-rate first mortgage, complete a mandatory HUD-approved homebuyer class, and meet the specific income limits tailored to your household size.
Is the assistance a grant or a loan?
The assistance is structured as a 0% interest, deferred-payment loan, not a grant. However, it is fully forgivable. If you occupy the home as your primary residence for 10 years, the loan balance is forgiven at a rate of 10% per year, meaning you may never have to repay it.
What are the income limits for the Cocoa homebuyer program in 2026?
Income limits vary by household size. For a single person, the limit is approximately $52,950, while a family of four can earn up to $75,600. These figures are based on Area Median Income (AMI) and are subject to annual adjustments, so verify the current caps before applying.
What types of homes qualify for the program?
Eligible properties include existing or new construction single-family homes located specifically within Cocoa city limits. Mobile and manufactured homes are strictly prohibited. Furthermore, homes built prior to 1978 are not eligible, and the purchase price cannot exceed the $273,000 cap.
Do I have to pay back the City of Cocoa assistance money?
Repayment is generally only required if you sell the home, refinance with cash out, transfer the title, or stop living there before the 10-year period ends. If you remain in the home as your primary residence for the full 10 years, the loan is completely forgiven.
Can I use the Cocoa purchase assistance program for repairs?
Yes, a portion of the assistance can be allocated to repairs. Very-low income buyers can use up to $5,000 of their total $37,400 for repairs. Similarly, low-income buyers can use up to $5,000 of their $32,400 max for necessary code-related repairs to pass inspection.
Do I need a specific credit score for the Cocoa program?
While the City of Cocoa doesn't mandate a specific credit score, you must qualify for a 30-year fixed-rate first mortgage. Most participating lenders will require a minimum credit score of 640 to 660 to approve you for the underlying FHA, VA, or Conventional loan needed to purchase.
How do I apply for the City of Cocoa Purchase Assistance Program?
The first step is to check your preliminary eligibility using the form on this page. If you qualify, you will next need to obtain a pre-approval letter from a lender and register for the required homebuyer education class through Community Housing Initiatives (CHI).
What is the "Affordability Period" for the loan?
The affordability period is 10 years. During this time, the home must remain your primary residence. The City records a lien on the property to ensure compliance, which is released once the 10-year term is complete and the loan has been fully forgiven.