The Indian River County Mortgage and Rent Payment Assistance Program is created to assist eligible county residents (including residents of the City of Fellsmere, Town of Indian River Shores, Town of Orchid, City of Sebastian, and City of Vero Beach) who experienced economic hardship because of the COVID-19 pandemic (Loss of income resulting from COVID-19 on or after March 1, 2020 due to temporary furlough/layoff, elimination of position, reduction of work hours, or self-employment with temporary closure or loss of business). Eligible assistance types are as follows:
- Rent Payment Assistance (Request from Tenant)
- Mortgage Payment Assistance (Primary Residence Only)
- Portion of Homeowners/Flood Insurance Payments and Portion of Taxes (Primary Residence Only if mortgage is in default for at least 30 days and if insurance and/or taxes are part of escrow)
This program is not intended to provide long-term support for participants, and it is not intended to provide all financial support that affects financial stability. The Maximum Household/Property Assistance amount is $1,500 per month for 3 months (no more than $4,500 in total assistance per household/property). Only the amount of money that is needed for each month(s) mortgage/rent payment may be approved (not to exceed $1,500 per month).
Household income cannot exceed 80% of the Area Median Income by household size (based on reduced income due to COVID-19).
If you are approved for assistance, an IRS W9 form for the Mortgage Company or landlord for federal income tax purposes must be provided. Funding from this program is taxable and must be reported to the IRS. Said landlord or mortgage provider will receive an IRS 1099 form at the end of the year. Additionally, if approved for assistance, the landlord or mortgage provider may be required to sign an agreement for non-eviction and/or non-foreclosure for the time period of assistance.
Applicants must reside in Indian River County and have an economic hardship directly related to the COVID-19 pandemic.
- Assistance will only be provided for past due payments during the March 1, 2020, - December 30, 2020 time frame.
- Household must meet gross annual incomes not exceeding 80% of Area Median Income (AMI) limits as shown.
- Household must have at least a 10% reduction in income.
Maximum Annual Income
(Not to Exceed 80% of AMI)
Required Documentation - Indian River County - Application Submission Checklist
Availability of Funds
It is anticipated that funding levels for mortgage assistance and rental assistance will be equally divided among both, however, the County reserves the right to adjust funding levels. Applications will be processed on a first-come, first eligible basis from all applicant(s) in each of the separate programs (mortgage assistance and rental assistance) meeting program eligibility criteria, subject to funding availability.
Only completed applications, which consist of a completed and signed application form and all the applicable supporting documentation, will be accepted.