Get up to $19,500 to help you buy your first home in Houston
The Houston Assistance Program (HAP) was designed to give assistance to low-to-moderate income homebuyers. Texas Affordable Housing Specialist (TAHS) Bill Edge has worked with the City of Houston to make this program available to families in the incorporated area of Houston.
There have been some major changes for HAP in 2010. The $45,000 in Hurricane Ike assistance has come to an end. The city of Houston has had changes in staff and in the paperwork required by the city. One of the main changes is that the new maximum grant amount is now $19,500. The time Homeowners must occupy the home as a principal residence has changed to 10 years now instead of 5 years. The sales price of the home has increased from a maximum of $135,000 to $200,160.
We are approved to work with the Houston Assistance Programs and are up-to date with changes to ensure best results.
To see if you are eligible for assistance contact Bill Edge at 713-240-2949.
Homebuyer Assistance Program
The City of Houston (City) Housing and Community Development Department (HCDD) has designed the Homebuyer Assistance Program (HAP) to provide financial assistance to low-to-moderate income homebuyers in the incorporated area of the City.
•HCDD staff will administer the HAP according to the policy and procedures set forth in the administrative guidelines. (add link to Administrative Guidelines)
•Funding for HAP will be available through the HOME Investment Partnerships (HOME) Program, the Community Development Block Grant (CDBG) Program, the American Dream Down Payment Initiative (ADDI) and Tax Increment Reinvestment Zone (TIRZ).
•HAP will provide direct financial assistance to offset portions of the down payment, closing costs, pre-paid items and principal required for home purchase.
Please read the information below to help you determine if you are a qualified applicant for the program:
•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 (updated 4.20.2010).
•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)
•Modular home/Manufactured home
•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.
2010 Household Income Limits
Family Size 80% of the Area
Source: The City of Houston