Arlington Homebuyers Assistance Program

Arlington Homebuyers Assistance Program is a forgivable loan for homebuyers in Arlington, Texas. City of Arlington's Homebuyer Assistance Program (AHAP) provides up to $20,000 in down payment and closing cost assistance as a 0% interest forgivable loan. Loan is forgiven if the borrower remains in the home for 5 years. Must be a first-time homebuyer (no home ownership in the last 3 years), meet 80% AMI income limits, and complete a HUD-approved homebuyer education course. Minimum $1,000 borrower contribution required. Administered by Housing Channel. Up to $20,000 forgivable loan for down payment and closing costs. 0% interest rate. fully forgiven after 5 years of owner-occupancy. no monthly payments required. borrower must contribute minimum $1,000 from own funds. HUD-approved homebuyer education course required prior to closing. administered by Housing Channel. Funding comes from Local Government.

Arlington Homebuyers Assistance Program offers up to $20,000 in assistance. The program asks homebuyers to contribute $1,000. The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Arlington Homebuyers Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale and No Longer Primary. The assistance is recorded in 2nd Lien position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Arlington Homebuyers Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: 3 years since last home ownership. A homebuyer education course is required. Property must be within Arlington city limits. Minimum $1,000 borrower contribution required. Front-end DTI may not exceed 35% nor be less than 10%.

Arlington Homebuyers Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Arlington Homebuyers Assistance Program can be used for Single Family, Condo, Townhouse, and New Construction.

Arlington Homebuyers Assistance Program serves homebuyers purchasing in Arlington, Texas.

Applications for Arlington Homebuyers Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-Come-First-Served. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.