Down Payment Assistance Home Ownership

Down Payment Assistance Home Ownership

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  /  melissa.galvan@exprealty.com    .

http://melissagalvan.aus.exprealty.com/index.php?keya=15116


Image title



Melissa Galvan Headshot
Author:
Phone: 512-773-5735
Dated: May 21st 2016
Views: 270
About Melissa: True Austin native with a passion for real estate. I'm rooted in Austin and I love my city. I'm priv...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

Immaculate House For Sale Near Y At Oak Hill Austin Texas 78736 - Located Near The Y At Oak Hill3 bdrm
Thanksgiving And Christmas Typically Sparks Rise In Home Burglaries - APD BURGLARY UNIT OFFERSHOLIDAY TIPS
Austin Holiday Home Fire Preventatives - HOLIDAY SAFETYKeep your family and o
Zilker Holiday Tree Celebrates 50 Years In 2016 Austin Texas - Kick off the holiday season and cele

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

eXp Realty Austin
9600 Great Hills Trail Suite 150W
Austin, TX
512-960-3506