The City of Austin’s Neighborhood Housing and Community Development Department has $1.8 million in funds available for down payment assistance. There are two programs available, the Standard DPA and the Shared Equity DPA.
The Standard DPA gives the borrower up to $14,999 in a forgivable, 0% interest loan. The Shared Equity DPA gives the borrower up to $40,000 in a forgivable, 0% interest loan with shared equity. The programs also allow the borrowers to use a Mortgage Credit Certificate program which increases the amount they qualify to purchase.
The home must be in the full purpose area of Austin. The Shared Equity program does not allow homes built prior to 1978 but the Standard DPA program does not have an age restriction.
The borrowers must be first time homebuyers.
The income limits increase with the number of people in the household:
1 person - $43,600
2 person - $49,800
3 person - $56,050
4 person – $62,250
5 person - $67,250
6 person - $72,250
7 person - $77,200
8 person - $82,200
Not everyone can qualify for this program but it is great program for the clients that do qualify. There are other down payment assistance programs for clients that do not meet these requirements even if they are not a first time homebuyer.
Call me if you want to learn more! Melissa Galvan 512-773-5735 / firstname.lastname@example.org .
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
TOP 5 PLACES TO TAKE BLUEBONNET PHOTOSTop 5 places for Blue Bonnet pho
"ITALIANO Siamo molto felici di aver incontrato per caso la signora Michelle Burns, vostro agente, con la quale dopo aver avuto un appuntamento nei vostri uffici, abbiamo trovato la casa perfet ta, la vostra agente Burns, è stata molto brava anche nel capire quello che stavamo cercando e molto paziente nel tradurre tutte le nostre richieste in quanto noi non parliamo americano, e grazie alla sua disponibilità e alle tecnologie moderne abbiamo comunicato a lei e lei con noi per tutto quanto ci era necessario, complimenti ai vostri uffici sempre tutto il personale compiaciuto, e pronto, complimenti al vostro Agente Michelle Burns, per la sua Professionalità, sempre ben vestita, sempre educata, pronta ad ascoltare senza mai voltarsi, Grazie Mille. INGLESE (GOOGLE TRANSLATOR) We are very happy to have met by chance Ms. Michelle Burns, your agent, with whom having had an appointment in your offices, we have found the perfect home, your agent Burns, was also very good in understanding what we were looking and very patient in translating all our demands because we do not speak American, and due to its availability and to modern technology we talked to her and she with us for all that we had to be, congratulations to your offices all staff always pleased, and ready, congratulations to your Agent Michelle Burns, for his professionalism, always well dressed, always polite, ready to listen without looking, Thanks a lot. "