Jim Murdoch, 49, and Raymond Murdoch, 46, who were both grandfathers, were found by their younger sibling William.
Officers are investigating whether the deaths in Port Glasgow are drugs-related.
Local councillor Jim MacLeod said: "It is sad news for the whole community. Hopefully we can find out what's happened as soon as possible. It is a tragedy to see anyone pass away let alone two brothers in the same house. My condolences to their family and friends."
Emergency services attended to the scene, in a quiet street, at around 4pm on Saturday after the discovery of the pair.
Teams of forensic officers were later seen carrying out a detailed search of the bungalow, and a cordon was placed around the property.
Police confirmed the deaths are as yet unexplained and a post-mortem examination will be carried out. The results of toxicology and blood tests on the bodies may not be known for weeks.