City of Garland DPA Programs
Down Payment Assistance
Garland Downpayment Assistance Program
Location Served: Garland, TX
Provider: City of Garland
Approved Lender: New American Funding – (512) 524-8077
The City of Garland’s Down Payment Assistance Program offers down payment assistance to low and moderate income first time home buyers. Assistance is provided to those purchasing a home within Garland city limits and is available is the form of a forgivable loan. However, the homeowner will have to repay the loan if he or she sells, home equity loan, leases or transfers title of the property within the first five years of ownership.
The City of Garland’s main objective with this program is to offer a network of services and providers that furnish the resources for low and moderate income families to be able to buy a home and become successful homeowners.
In order to qualify for the City of Garland’s Down Payment Assistance Program, applicants must:
- Be a first time home owner or not have owned a home within the past three years at application.
- Be below 80% of HUD’s median income guidelines.
- Purhase a home within the city limits of Garland.
- Have the ability to qualify for a first mortgage with a private lender.
- For more information, check the HUD Median Family Income Guidelines.
- Financial – First mortgage loans provided to clients through the private sector.
- Real Estate – Private real estate agents providing to clients participating in the program.
- Neighborhood Services – At the hub of this partnership is Neighborhood Services who acts as the principal overseer and coordinator of the partnership.
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.