Arlington Homebuyers Assistance Program (AHAP)
Down Payment Assistance
Arlington HAP Program
Location Served: Arlington, TX
Provider: City of Arlington
Approved Lender: New American Funding – (512) 524-8077
The Arlington Homebuyers Assistance Program offers down payment and closing cost assistance to low income, first time homebuyers. The assistance provided by the AHAP is in the form of a forgivable loan with 0% interest. The loan is only payable if the homebuyer sells, refinances with cash-out, or leases their home within the first five years after purchase. Qualified applicants can receive up to $7,500 for down payment and closing cost assistance. Forgivable, $10,000 DPA loans are available for qualified applicants who purchase a property in a revitalization area or for households with a disabled member.
In order to qualify for the Arlington Homebuyers Assistance Program:
- The property purchased must be located in Arlington
- The applicant must be a first time homebuyer, or be from a federally declared disaster area
- The applicant’s projected total gross household income for the upcoming year may not be greater than the “Low Income” level set by the HUD
- The applicant is not permitted to have more than $15,000 in liquid assets
- The homebuyer is required to invest at least $1,000 towards the purchase of the home
- The applicant must qualify for an FHA, VA or conventional mortgage with a private lender or mortgage broker
- The property purchased must meet the minimum housing standards
- The homebuyer must use the purchased property as their primary / principal place of residence
- The applicant must complete an HUD-approved home ownership training course
The most common deficiencies identified by inspectors are listed below; correcting these issues prior to your AHAP inspection will save time and make for a smoother, more efficient home sale.
- Inoperable or missing smoke detectors – AHAP requires that homes have a battery-operated or hard-wired smoke detector in every bedroom and adjoining hallways
- Deteriorated paint – Interior and exterior paint must not be chipping, peeling, cracking or chalking
- Inoperable windows – All windows that are intended to be opened must properly do so
- Hazardous electrical wiring – Exposed wiring, broken outlets, missing or broken electrical outlet or switch covers are considered hazardous
- Missing Ground-fault-circuit- interrupters (GFCI) – All electrical outlets located on the exterior of the home or within six-feet of a water source are required by the AHAP program to be GFCI-protected
- Inoperable doors- All doors must open easily and fit well within the doorframe
- Cracks in walls and/or ceilings – All cracks in the property’s wall and/or ceilings must be repaired
- Rodent or Insect Infestation – The purchased property must not be infested by termites, roaches, rats, ants or other insects or vermin
- Electrical breaker panel – All electrical circuits must be clearly labeled and each breaker must visibly identify which outlets and switches are served
- Problem with foundation – Property’s foundation must be sound, show no signs of cracking, separation of brick or mortar, or doors and windows that do not properly and easily close.
If it is, paint stabilization using a certified lead abatement will be required.
All work completed on the home must pass a clearance test before any down payment and closing cost assistance funds can be released.
If you have any additional questions regarding home mortgages, please contact a mortgage expert by filling out the form on the right or calling (512) 524-8077. You can also email Team@CandyBuzan.com.