Down Payment Assistance
The Austin Affordable Housing Corporation, AAHC, is a non-profit department of HACA and guarantees premium, affordable housing opportunities for Austin residents in need and continues to follow new entrepreneurial endeavors. AAHC manages the following programs:
At the Austin Area Urban League, our goal is to help African Americans as well as other underserved Austin area residents. We focus on improving education, employment readiness, wellness and health, and maintaining affordable housing.
The Austin Housing Finance Corporation's Down Payment Assistance Programs provide zero interest home loans to qualified, first-time homebuyers looking to purchase a home in the Austin area. The down payment assistance funding is intended to cover the borrower's down payment, closing costs and pre-paid expenses associated with purchasing a home.
Austin's Down Payment Assistance Program assists eligible, first-time homebuyers with deferred, 0% interest loans to apply towards the purchase of an Austin home.
The San Marcos First Time Homebuyer Programs provides loans to assist borrowers with their down payment and closing costs. Funds received by the borrower through the program may be used to pay 100% of reasonable closing costs and 50% of the down payment required by the lender. There is no set household income limit.
With the help of the Capital Area Housing Finance Corporation, qualified borrowers are allowed to use a one-time $8,000 federal income tax credit as well as the Capital Area HFC mortgage credit referred to as an MCC. The mortgage credit certificate, or MCC, provides homebuyers the opportunity to take 30 percent (or up to $2,000) off of their annual mortgage interest as a federal income tax credit. Any unused credit may be carried forward up to three years because the credit is limited to the homeowner's actual tax liability. The leftover percentage of the homebuyer's annual mortgage interest may continue to be claimed as a deduction.
The Travis County DPA Program was created to assist homebuyers when purchasing a newly constructed or existing home. The program was designed to provide low and moderate income homebuyers with a 4.00% grant for their down payment. Under the Travis County DPA Program, $17,000,000 is available for mortgage loans.
Looking for DPA Programs in Your Area? New American Fundingis an Approved Lender for Down Payment Assistance Programs in most states
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