Community Housing Initiative (CHI) – City of Titusville’s First Time Homebuyers Program

Special Alert

Maximum Purchase Price


Contact Info:

https://titusville.com/186/Community-Development 555 S. Washington, Titusville, FL 32796


Credit Score Requirements

Based on 1st Mortgage Guidelines

Deferred Payments?


Accepted First Mortgage Type:

Freddie Mac, Freddie Mac HFA Advantage, Freddie Mac Home Possible, Fannie Mae, Fannie Mae HFA Preferred, Fannie Mae HomeReady, FHA 203(b), VA

Homeowners Education Class:


Is Forgivable?

The assistance provided to each homebuyer, at the time of closing, will be in the form of a second mortgage. The second mortgage will be recorded in the Public Records of Brevard County. It is a Deferred Payment Loan (DPL) at zero percent (0%) interest and is forgiven in accordance with the following schedule: If assistance amounts fall between: Lien Period – Forgiven annually/Repayment Under $15,000.00: 5 years – 0 $15,001-$40,000.00: 10 years – First 5 yrs at 0%; then 20% per year thereafter* Over $40,000.00: 15 years – First 5 yrs at 0%; then 10% per year thereafter* New Construction: 20 years – First 5 yrs at 0%; then 5% per year thereafter* *PLUS a % of the pro-rate share of the difference between the sales price and the original purchase price; net closing costs, improvements


Titusville Property must be within the city limits of Titusville, FL.

Income Limitations:

Yes, based on Compliance Income (including household income) Income limits from HUD 2022 120% AMI guidelines Program cannot exceed 120% AMI of HUD’s income limits. Assistance amount is determined using 50% AMI, 80% and 120% AMI limits. (Our program model takes into account the higher of the limits)

Maximum Assistance

$72,400 Assistance funds varies based on income level category of applicant: Very Low-income (50% AMI or less) households = $67,400; Low-income (51% – 80%AMI) households = $47,400; Moderate income (81% – 120% AMI) households = $27,400. Essential Services Personnel can receive $5,000 additional onto the above amounts. (Our program model reflects the highest amount available) Note: These are the maximum levels of assistance; however, the program will only provide the minimum assistance needed to make the home affordable to the buyer. Essential Services Personnel (teachers or educators, law enforcement, Fire/EMS, health care professionals, security, and government personnel) are eligible to receive up to an additional $5,000 in assistance as an incentive to continue their employment with their current employer for a minimum of five (5) years after receiving assistance.

Education Requirements Info:

Must attend a Homebuyer Education workshop. Contact C.H.I. for next class, (321) 253053.

Eligible Property Types:

Single Family Detached Co-Op Townhome/PUD

Income By Household Size:

HH1HH2HH3HH4HH5HH6HH7HH8 $72,240$82,560$92,880$103,200$111,480$119,760$128,040$136,320 *Income limits as of 06/08/2023

Qualifying Ratios:

Housing Ratio: Up To 34% Total DTI: Up To 42% Proposed monthly mortgage payment cannot exceed buyer’s affordability ratios (front-end 34% / back-end 42%).
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