City of Houston DPA Programs
Down Payment Assistance
Location Served: Houston, TX
Provider: City of Houston
Approved Lender: New American Funding – (512) 524-8077
The City of Houston’s Housing and Community Development Department (HCDD) has created the Houston Homebuyer Assistance Program (HHA) in order to provide low-to-moderate income homebuyers with financial assistance.
- The Tax Incremendt Reinvestment Zone (TIRZ), American Dream Down Payment Initiative (ADDI), Community Developmnet Block Grant (CDBG) Program, and the HOME Investment Partnerships (HOME) all provide funding for the Houston Homebuyer Assistance Program (HHA).
- For the purchase of the home, HHA will provide eligible applicants with direct financial assistance to help offset portions of the down payment, closing costs, pre-paid items and principal required.
To qualify for the Houston Homebuyer Assistance Program, applicants must meet the following requirements:
- The applicant must prove that they have the capability of obtaining a mortgage loan (financial, credit worthiness, etc.)
- The household’s total combined income must be less than or equivalent to 80% of the Area Median Income (AMI).
- The homebuyer must complete an eight hour, in-person Homebuyer Education Course from a HUD-approved, participating Housing Counseling Agency.
- The sales price for the home is not allowed to exceed the Single Family Mortgage Limits under Section 203(b) of the National Housing Act ($200,160).
- The property must be located in the taxing jurisdiction of the City of Houston
- The applicant must purchase a newly constructed or existing home.
The following properties are eligible for the HHA Program:
- Single-family homes (detached and attached 1-4 units)
- Condominium unit/Townhouse
- Modular home/Manufactured home
- Cooperative unit
- The applicant must invest at least $500 towards the purchase of the home (i.e. earnest money, appraisal, etc.)
- In order for the loan to be forgiven, the applicant must live in the home for at least 10 years.
Applicant(s) combined annual household income must be at or below the amounts listed in the Household Income Limits. Applicant(s) may receive up to $19,500 in assistance if their family’s income is at 80% or below the area median income.
2012 Household Income Limits
|Family Size||80% of the Area Median Income|
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.