Melbourne’s for-sale inventory sits at just 1.9 months—half of what analysts call a balanced market—because 1,200 new residents arrive every month for high-paying aerospace and defense jobs. Median list price has ticked up to $320,000, but price-per-square-foot still hovers around $195, well below the $245 state average. Entry-level buyers target 32901 (south of New Haven Avenue) where 3-bedroom concrete-block ranches built in 1978 transact at $270–$285 K and qualify for 3 % down HomeReady or 3.5 % FHA.

Move-up buyers gravitate to Viera (zip 32940) for top-rated schools and Publix-anchored shopping plazas; new construction by D.R. Horton and Lennar ranges $380–$450 K and can be paired with NMHL’s 5 % down conventional jumbo up to county loan limit of $766,550. Investors eye duplexes around the Florida Institute of Technology corridor where each side rents for $1,400–$1,500, covering a 25 % down investment-property loan at 7.5 % with positive cash flow.

Pro tip: Brevard’s seasonal listing surge hits each February when snowbirds fly north—listings jump 18 % and list-to-sale ratio drops to 96 %, giving patient buyers a slight negotiation window before Space-Coast summer rentals heat up again.

Melbourne falls under the Brevard County Property Appraiser with a base millage of 18.45 mills—roughly 0.95 % of assessed value. A $320 K home with a $25 K homestead exemption carries an annual tax bill near $2,850, but that figure can dip below $2,400 if you qualify for the additional $50 K widow, veteran, or disability exemptions.

• Portability: If you’re upgrading within Florida,Bring your Save-Our-Homes cap difference—up to $250 K of assessed value can be ported, keeping tax spikes minimal.
• Non-ad valorem: Storm-water and solid-waste assessments add ~$190 yearly; NMHL escrows these so your monthly payment covers everything.
• New construction: Builders often estimate taxes on land value only—budget an extra $600–$800 annually once the assessor picks up the improved value.

Because property taxes are paid in arrears, closing in November means you’ll receive a discount for early payment (up to 4 % if paid by November 30). NMHL’s closing department prorates this credit automatically so you walk into your new Melbourne home with a positive escrow cushion.

Nearly 38 % of NMHL’s Melbourne closings last year used some form of down-payment assistance. Combine these layers to bring cash-to-close close to zero:

• Florida Hometown Heroes – up to $35,000 at 0 % interest; income limit for Brevard is $122,100 for 2024. Must be employed full-time ineligible public-service role (teacher, firefighter, nurse, etc.).
• Brevard SHIP funds – $25,000–$50,000 forgivable after 10 years; household income ≤140 % AMI. NMHL secures your spot on the county wait-list the day you’re under contract.
• FHA Edge – NMHL’s internal grant covers 2 % of the 3.5 % down payment, so you only bring 1.5 % on a $300 K purchase ($4,500).
• Florida Assist Second Mortgage – up to $10,000 deferred at 3 % simple interest; due only when you sell, refinance, or pay off the first mortgage.

Example: $310 K townhouse in Suntree—use FHA Edge (1.5 % down = $4,650) + SHIP $35,000 for closing & prepaids + seller credit $5,000 = buyer brings $1,200 total. Payment lands at $2,380 including HOA, taxes, and insurance—often less than comparable rent of $2,500–$2,600.

Missed payments during the pandemic don’t have to ground your homeownership dreams. NMHL’s Fresh-Start Suite is specifically built for Brevard borrowers rebounding from:

• Chapter 7 bankruptcy discharged ≥ 24 months
• Foreclosure or short sale ≥ 36 months
• Credit scores 580–620 with 2–4 open tradelines

We manually underwrite every file in-house, so compensating factors—like a 45 % housing ratio but 6-month mortgage-payment reserves—carry weight. Recent Melbourne success: buyer with 592 median score, $78 K income at Harris Corp., qualified for FHA 3.5 % down on a $295 K pool home in West Melbourne 32904; rate 7.125 %, APR 8.0 % after upfront MIP.

If you’re not quite there yet, our Credit-Rocket program partners with Space-Coast Credit Counselors for rapid rescoring. Average client gains 32 points in 45 days by paying down two revolving cards to under 10 % utilization and removing two erroneous medical collections.

Home to Patrick Space Force Base, Cape Canaveral SFS, and thousands of civilian defense workers, Melbourne is a VA-loan powerhouse. NMHL’s VA volume in Brevard grew 22 % last year because we offer:

• 100 % financing up to county limit $766,550
• 4 % seller-paid closing cost allowance—plenty to cover everything on a $350 K contract
• 660+ median FICO = no overlay; 580–659 still eligible with two months reserves
• Manual underwriting for complex entitlement restoration when you’re transferring from another duty station

Typical scenario: active-duty Captain under contract on a $385 K new build in Viera. Builder agreed to $10 K incentives + $5 K closing costs. VA funding fee of 2.15 % ($8,288) financed into loan—final rate 6.375 % on 30-year fixed, payment $2,765 including HOA and CDD. Because NMHL is a direct VA lender, we closed in 23 days, beating the builder’s preferred national bank by two weeks and securing a $7,500 builder credit for on-time closing.

From independent aerospace consultants to charter-boat captains, 31 % of Melbourne’s workforce is self-employed. Traditional underwriting that averages two years of tax returns often chops qualifying income by 30–50 % after write-offs. NMHL’s alternative-documentation loans solve that:

• 12- or 24-month personal or business bank statements; deposits averaged, withdrawals ignored
• Loan amounts to $1.5 million with 15 % down
• Asset depletion—qualify on $1.2 million in stocks/bonds at 5 % annual draw instead of tax returns
• Profit-&-loss only for established businesses with CPA letter and YTD balance sheet

Recent client: couple owns three recreational-fishing charter boats. Taxable income after depreciation: $42 K. Actual cash flow: $18 K per month. Using 24-month business statements, NMHL qualified them at $16,500/month, approving a $520 K waterfront home on the Grand Canal with 15 % down and a 7.125 % fixed rate on a 30-year amortization.

Condo or townhouse investors can also utilize DSCR (debt-service-coverage) loans at 1.1 ratio—perfect for short-term vacation rentals near Melbourne Beach where gross rents average $3,800/month on a $400 K purchase.

Whether you’re house-hunting between shuttle launches or scouring open houses after a day at the Melbourne Air & Space Show, you need a pre-approval letter that sellers trust. NMHL’s Pre-Approval-Plus includes:

• Full underwriting review—not just a credit pull—so your offer competes with cash
• Same-day letter with purchase-price limit tailored to each Melbourne neighborhood
• Rate-lock up to 90 days while you shop, protecting you if the market ticks up
• Free homebuyer-rebate: close with NMHL and receive $750 credit toward appraisal, inspection, or moving expenses

Apply online from anywhere on the Space Coast—upload paystubs, bank statements, and ID through our encrypted portal. A local loan officer who knows the difference between Palm Bay’s 32909 flood zones and Indialantic’s condo doc requirements will call you within two hours. We’ll run your credit, run DU/LP, and issue a pre-approval letter sized for Melbourne’s market so you can tour homes this weekend with confidence.