College Station Down Payment Assistance Program

College Station Down Payment Assistance Program is a shared-appreciation loan for homebuyers in College Station, Texas. The City of College Station Down Payment Assistance Program provides shared equity, gap financing of up to 30% of the sales price (capped at $50,000) as a zero-interest deferred second lien. Repayment is due upon sale or when the buyer no longer owner-occupies; the city recaptures the original loan amount plus a proportionate share of equity gains. Income must be ≤80% AMI and minimum credit score is 600. Up to 30% of sales price (cap $50,000). Zero-interest deferred loan. Shared equity structure. Covers gap financing. 1.5% minimum buyer contribution. Funding comes from Local/Federal (HOME).

College Station Down Payment Assistance Program provides assistance worth 30% of the purchase price, as set by the program. 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.

College Station Down Payment Assistance Program is a shared-appreciation loan and is repaid under the terms set by the administering agency. 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.

College Station Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. The program lists a minimum credit score of 600. A homebuyer education course is required. Citizenship or immigration status: yes.

College Station Down Payment 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 household income; max $20,000 liquid assets. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

College Station Down Payment Assistance Program can be used for Single-family. New construction is eligible.

College Station Down Payment Assistance Program serves homebuyers purchasing in College Station, Texas.

Applications for College Station Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. 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.