CITY OF GRAND PRAIRIE 4-HOME PROGRAM

City of Grand Prairie 4-Home Program

Down Payment Assistance

 

FHPAG (4-Home) Program
Location Served: Grand Prairie, TX
Provider: City of Grand Prairie
Approved Lender: New American Funding – (512) 524-8077
Website

 
Grand Prairie’s Foreclosed Home Purchase Assistance Grant Program, commonly referred to as the FHPAG Program, was designed to help eligible low, moderate and middle income families purchase foreclosed homes in the city of Grand Prairie, Texas. The Grand Prairie Housing and Neighborhood Services Department administers the FHPAG Program.
 

Applicants
City

 

Eligibility Requirements

 
The FHPAG program offers qualified borrowers grants up to $20,000 to assist with their down payment (up to 50%), closing costs and approved rehabilitation work after the closing process is complete.
 
Qualifications and Eligibility:
 
To qualify for Grand Prairie’s FHPAG Program, applicants must:
 

  • Complete all required application documentation.
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  • Ensure that their mortgage payments do not exceed 25% of their gross family income.
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  • Have an income to debt ratio* 40% or less (* no more than 40% can be contributed to principle, interest, taxes and insurance unless otherwise approved).
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  • Pre-qualify with an FHPAG-approved lender at the time of the FHPAG application. All household members’ income will be calculated to determine the applicant’s total family gross income. To qualify, the applicant’s income must be either (see chart below):
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    • At or below 50% of median income. This group will receive 25% of the total grant. Applicants in this category will be given priority as applications are received until minimum requirement is met.
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    • At or below 120% of median income.
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Dallas County 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of median $23,650 $27,050 $30,400 $33,800 $36,500 $39,200 $41,900 $44,600
120% of median $56,800 $64,900 $73,000 $81,100 $87,600 $94,100 $100,600 $107,100

 

Tarrant County 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of median $23,100 $26,400 $29,700 $33,000 $35,650 $38,300 $40,900 $43,550
120% of median $55,450 $63,350 $71,300 $79,200 $85,550 $91,850 $98,200 $104,550

 

Financing / Down Payment / Closing Cost Assistance
Lender Requirements
Homebuyer Training / Counseling
Affordability Requirements
Foreclosed Home Requirements
Appraisals
Approved Rehabilitation Work

 
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.