Bryan Homebuyer Assistance Program

What is Bryan Homebuyer Assistance Program?

Bryan Homebuyer Assistance Program is a forgivable loan for homebuyers in Bryan, Texas.

• The City of Bryan Home Buyers Down Payment & Closing Costs Assistance Program provides $3,500–$14,000 (up to $24,000 in some cases) as a deferred, non-interest-bearing loan to first-time buyers at or below 80% AMI. Repayment is only required upon sale or when the property is no longer owner-occupied. A minimum credit score of 640 and a $1,000 buyer contribution are required.
• $3,500–$14,000 deferred non-interest loan.
• 5-year occupancy requirement.
• Covers down payment and closing costs.
• Minimum $1,000 buyer contribution.
• Funding comes from Local/Federal (HOME/CDBG).

Do you have to pay it back?

Bryan Homebuyer Assistance Program is forgiven after 5 years, so a buyer 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.

Who qualifies?

Bryan Homebuyer Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Bryan Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% of area median income.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Bryan Homebuyer Assistance Program caps the purchase price at $273,000.

• Eligible property types include Single-family.
• New construction is eligible.

Where does it apply?

Bryan Homebuyer Assistance Program serves buyers purchasing in Bryan, Texas.

How do you apply?

Applications for Bryan Homebuyer Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   Work with a lender who handles the program

   Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.