CITY OF DENTON HAP

City of Denton Housing Assistance Program

Down Payment Assistance

 

Denton HAP Program
Location Served: Denton, TX
Provider: City of Denton
Approved Lender: New American Funding – (512) 524-8077
Website

 
The City of Denton Housing Assistance Program (HAP) offers homeownership opportunities to first time, low and moderate income homebuyers. HAP provides funding in the form of a forgivable loan, but must be repaid if the homebuyer chooses to sell, home equity loan, lease or transfer the title. The program guidelines determine the maximum amount of assistance each household is to receive. Funding from the City of Denton Housing Assistance Program may also be used to lower the homebuyer’s monthly payments. Below is an overview of the program’s guidelines, for a more comprehensive document, please call the Community Development Division.
 

Eligibility Requirements

 
In order to qualify for the program, homebuyers must:
 

  • Reside in the city limits of Denton, TX for the past 12 months.
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  • Be a U.S. citizen or a legal resident.
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  • Be a first-time homebuyer or have not owned a home in the past three years.
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  • Not have more than $10,000 in liquid assets. An amount above $5,000 must be invested in the home .
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  • Not have a household income that exceeds the income limits for their family size (see chart below).

 

Family Size Maximum Yearly Income
1 $39,300
2 $44,900
3 $50,500
4 $56,100
5 $60,600
6 $65,100
7 $69,600
8 $74,100

 

What Property Types Qualify?
What Costs Will The Program Cover?

 

Buyer’s Contribution and Maximum HAP Assistance

 
Listed below are the three levels of assistance through the City of Denton’s Housing Assistance Program and the minimum amount that a homebuyer must contribute to the purchase of their home.
 

Family Size Moderate Income Low Income Very-Low Income
1 $39,300 – $31,901 $31,900 – $24,551 $24,550 or Below
2 $44,900 – $36,451 $36,450 – $28,051 $28,050 or Below
3 $50,500 – $41,001 $41,000 – $31,551 $31,550 or Below
4 $56,100 – $45,551 $45,550 – $35,051 $35,050 or Below
5 $60,600 – $49,201 $49,200 – $37,901 $37,900 or Below
6 $65,100 -$52,851 $52,850 – $40,701 $40,700 or Below
7 $69,600 – $56,501 $56,500 – $43,501 $43,500 or Below
8 $74,100 – $60,151 $60,150 – $46,301 $46,300 or Below
Buyer’s Minimum Contribution 1.75 % of Sales Price
Maximum HAP Assistance Up to $5,000 Up to $10,000 Up to $14,900
Term of Loan 5 Years 7 Years 10 Years
How to receive assistance

 
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.

This website marketing is not intended to offer loan services for properties in New York.