Tag Archives: dallas texas

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Looking for Down Payment Assistance programs?

Rising interest rates is causing first home-buyers to find other options for buying homes. Well, believe it or not there are still down payment assistance programs available for first time home-buyers.  Keep in mind some aren’t 100% and may require a small contribution to the purchase of your home. But, it is still a lot less then going with a standard mortgage.  History has proven, giving money toward buying a home is not always a good thing. So, the programs are a bit stringent in their requirements with some programs requiring in person homeowner course completion.

Most programs are funded by city or county where you want to reside.  I will add links so you can access their website for complete details.

 Homebuyer Assistance Program (HAP) – City of Fort Worth

Contact Info

Physical Address
908 Monroe Street
Fort Worth, TX 76102

Administration
817-392-7540 (phone)
817-392-7328 (fax)

Housing Services & Information, Directions Home, Management & Budget, Home Improvement & Construction
817-392-7390 (phone)
817-392-7508 (fax)

Director:
Aubrey Thagard

Requirements

  • Property must be purchased in Fort Worth
  • Homebuyer cannot have owned a house in the last 3 years
  • Homebuyer must live in home as primary residence
  • Combined family income must not exceed 80% of Fort Worth median income
  • Must work with a city approved lender http://fortworthtexas.gov/neighborhoods/lenders/
  • Minimum contribution from homebuyers own money must be at least $1,000 or 2% of home price
  • Property must pass Fort Worth city inspection free of cost
  • Can receive subsidy of up to $14,999 for mortgage assistance or use $3,000 of this amount for closing cost and/or down payment
  • Homebuyer must complete home ownership training and counseling program. Online completion not available.

Income Limits

Household Size Maximum Income
Download detailed income limits
1 $38,850
2 $44,400
3 $49,950
4 $55,500
5 $59,950
6 $64,400
7 $68,850
8 $73,300

 

City of Arlington Homebuyer Assistance

Contact info

Housing Advisor: 817-924-5091

Email: counseling@tchp.net

Requirements

  • Property must be located in the city of Arlington, TX
  • For first-time buyers only
  • Provides up to $7,500 in down payment assistance
  • Household income cannot exceed 80% of the area median income
  • Home must meet City’s minimum property standards
  • Funds available on first come first serve basis
  • Must complete homebuyer orientation class

 

Income Limits

Household Size Maximum Income
Download detailed income limits
1 $38,850
2 $44,400
3 $49,950
4 $55,500
5 $59,950
6 $64,400
7 $68,850
8 $73,300

 

City of Arlington Mortgage Credit Certificate Program (MCC)

Contact Info

Lori Wood

Phone: 214-953-4176

Email: Lori.Wood@hilltopsecurities.com

Requirements

  • Homebuyer’s household income and the purchase price of the home must not exceed the programs maximum limits
  • Homebuyer could not have owned a home in the last three years as their primary residence unless purchasing a home in the target area or is a qualified veteran
  • Homebuyer must apply for the MC through a participating lender and pay a non-refundable MCC Application fee
  • Homebuyer must qualify for a mortgage
  • Homebuyer must attend a HUD approved home ownership counseling course
  • Homebuyer must purchase a home in the City of Arlington, TX
  • Homebuyer must occupy the home as their principal residence

Maximum Income Limits

Non-targeted areas:

1-2 occupants               $69,400

3 or more occupants   $79,810

Targeted Areas:

1-2 occupants            $83,280

3 or more occupants           $97,160

Maximum Purchase Price Limit

Non-Targeted Areas                        $315,541

Targeted Areas                                 $385,662

PDF printable program details

 

Development Corporation of Tarrant county Homebuyer Assistance

Contact info

Phone: 817-924-5091

Requirements

  • Available for specific properties
  • Up to $10,000 in assistance
  • Not restricted to first-time homebuyers
  • Household income must not exceed 80% of area median income
  • Homebuyer must complete TCHP homeowner orientation

Household Income Limits

Household Size Maximum Income
Download detailed income limits
1 $38,850
2 $44,400
3 $49,950
4 $55,500
5 $59,950
6 $64,400
7 $68,850
8 $73,300

 

Complete PDF printable details

Dallas County Upfront Cost Assistance Program (UPCAP) down payment assistance

Contact info

Physical address:

2377 North Stemmons Freeway, Suite 724

Dallas,  TX 75207

Phone: 214-819-6060

Fax: 214-819-6069

Email: HLCC@dallascounty.org

Requirements

  • Applicants must be pre-qualified for a mortgage loan fr0m a lender
  • Applications may be mailed or turned into our office by the homebuyer only
  • Applications must be turned in with all required additional documentation as detailed on application instruction sheet. Incomplete applications will not be accepted
  • Applications may be submitted before or after attending the homebuyer seminars
  • Applicants are encouraged to submit applications as soon as mortgage approval is received. If a sales contract has been executed, applications should be submitted immediately

Participating UPCAP assistance cities

Balch Springs – Coppell – Glenn Heights – Sachse – Cedar Hill – Duncanville – Hutchins – Seagoville – Cockrell Hill – Farmers Branch – Lancaster – Wilmer

 Household income limits

Family size:    1            2            3                   4                  5                   6                7

Max Income:    1 – $40,151    2 – $45,901       3 – $51,651         4 – $57,351       5 – $61,951      6 – $66,551    7 – $71,151

Property Price Limits

Maximum home price $183,000 for existing homes and $228,000 New Construction

Full details printable PDF 

 

City of Dallas Mortgage Assistance Program- (MAP)

Contact Info

Physical Address

1500 Marilla, Suite 6BN

Dallas, TX 75201

Phone: 214-670-4447

Email: maploans@dallascityhall.com

 Requirements

  • Total household income not to exceed 80% of the Dallas area median income
  • Home price must not exceed $183,000 for existing properties and $228,000 for new construction
  • Home must pass City of Dallas inspection
  • Homebuyer must attend a homebuyer education course
  • Homebuyer must get pre-qualified for a home loan
  • Home must be homebuyers primary residence
  • Up to $1500 may be used for minor repairs

Household income Limits

INCOME RANGE 80% OR BELOW
MAXIMUM SUBSIDY UP TO $14,000/$20,000
HOUSEHOLD SIZE HOUSEHOLD INCOME
1 $40,150
2 $45,900
3 $51,650
4 $57,350
5 $61,950
6 $66,550
7 $71,150
8 $75,750
9 $80,300

 

This is what I have found so far.  I will keep adding as I search for more!

Let me know if you have any questions!