Harris County Downpayment Assistance Program

Before you begin to shop for a new home, you should set up a time to meet with us so that we can figure out how much you can afford. This will put you in a better position a

We can assist you in getting approved for the harris COunty Grant MoneyDAP Program

 

$14,200 for New Construction

$9,500 for resale properties built within the current 10 yrs.

$14,400 for Disabled borrowers on new construction

$14,400 for resale properties built within the current 10 yrs.

Income Qualifier

Total Family Gross Income Cannot Exceed:
1 person = $35,750 - 2 persons = $40,850
3 persons = $45,950 - 4 persons = $51,050
5 persons = $55,150 - 6 persons = $59,200
7 persons = $63,300 - 8 persons = $67,400

Harris County

Home must be in an unincorporated area of Harris County (cannot be in the City of Houston, Pasadena, or Baytown).

You must live in the new or pre-owned house for a minimum of 5 to 10 yrs, depending on the amount of the award

1st Time Homebuyer

Homebuyer must be a 1st time homebuyer, as verified on last 3 yrs of income tax returns,

Or have lost previous home in extenuating circumstances, such as a loss due to a fire, flood, or hurricane.

Buyer must have at least one credit score of 620

Cannot have more than $10,000 in liquid assets.

Financial Assistance

DAP provides financial assistance in the form of a deferred, forgivable loan.

The loan is eligible for first time homebuyers for down payment and closing costs.

Homes must have built within the last 10 years.

Items Required

1. Obtain a 8 Hr Home Buyer Certificate

2. Current six (6) months of bank statements (checking/savings).

3. Current three (3) years of income tax returns (include W-2's, 1099's, etc.)

4. Current three (3) months of payroll stubs.

5. Document Income: Child Support, Alimony, Social Security Benefits, Retirement Accounts (IRA's, 401K, etc.), disability or worker's compensation.

6. Birth certificates on everyone who will reside in the home.

7. Divorce papers, if applicable.

$8k Tax Credit Ends 04/31/2009!

Now is the time to buy a new home. Not only can you obtain free grant money for your down payment and closing costs, but real estate is at all time low prices.