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Home loan down payment assistance buying a home purchased in the city of Houston Texas.
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| Buying a home City of Houston’s Housing and Community Development Department objective is to provide decent housing, create a suitable living environment and expand economic opportunities. Single family housing down payment assistance, single family home repair assistance, multi and single family housing development, finance-financing your new home house for sale. | ||
| Help for potential home buyer purchase new or existing homes using financial assistance from the City. The City of Houston has created three down-payment assistance programs to help families achieve the dream of home ownership. | ||
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get $19,500 to
$37,000 |
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Home Buyer Assistance - How This Works - 3 Easy Steps |
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| First #1 Contact one of our HUD-approved Housing Counseling Agencies to take required homebuyer education and obtain an eight 8 hour homebuyer education certificate. First step you must attend ! | ||
| Second
#2
Schedule an appointment with an
Approved Lending Partner Gather the appropriate documents to present to your Lender |
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| Third
#3
Once pre-approved for a loan, contact a Realtor. Locate a property
inside the Houston city limits. After the property is selected, provide additional property documents to the Lender and they will submit them to the City for review. During the City’s review process, you may be contacted for additional information. Once the file is approved or denied, the Lender and potential homebuyer will be contacted via letter and/or telephone by the City. |
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| Funding for HAP
will be available through the HOME Investment Partnerships Program,
the Community Development Block Grant Program, the American Dream
Down Payment Initiative and Tax Increment Reinvestment Zone. HAP will provide direct financial assistance to offset portions of the down payment, closing costs, pre-paid items and principal required for home purchase. Buy instead of rent - Click on Homebuyer Assistance Program. |
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| * The applicant must demonstrate the ability to obtain a mortgage loan (financial, credit worthiness, etc.) The family’s combined income must be at or below 80% of the area median income * The applicant must complete at least eight (8) hours of homebuyer education from any participating HUD-approved Housing Counseling Agency. * The sales price for the property cannot 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 new or existing home. The following structures are approved for Single-family property detached and attached 1-4 units Condominium unit/Townhouse * HCDD Inspection Services Section is required to conduct an independent physical inspection on the property. Despite HCDD’s inspector completing a physical inspection of the property, it is highly encouraged that the potential homebuyer gets his/her own TREC inspection * The applicant must invest at least $500 into the home buying transaction (i.e. earnest money, appraisal, etc.) * The applicant must live in the home for 10 years for assistance to be forgiven . Applicant (s) combined annual household income must be at or below the amounts listed in the Household Income Limits to qualify for HAP funds. The amount of the assistance is $19,500 for all families whose income is at 80% or below the area median income. Click on Homebuyer Assistance Program | ||
| City of Houston home loan down payment assistance, closing costs, pre-paid, principal home purchase Houston TX. | ||
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