Denton Homebuyer Assistance Program

What is Denton Homebuyer Assistance Program?

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

• The City of Denton Homebuyer Assistance Program provides 0% interest forgivable loans for down payment and closing costs to low-to-moderate-income first-time homebuyers within Denton city limits. Two options: up to $14,900 with a 5-year affordability period, or up to $50,000 with a 15-year affordability period. Eligible properties include single-family homes, condos, and townhomes.
• Up to $50,000 in 0% interest forgivable loan.
• Option 1: up to $14,900 forgiven after 5 years.
• Option 2: up to $50,000 forgiven after 15 years.
• Covers condos and townhomes.
• HUD-approved homebuyer education required.
• Funding comes from Federal.

Do you have to pay it back?

Denton Homebuyer Assistance Program is forgiven after 15 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, Refinance, 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?

Denton 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?

Denton 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 AMI by 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.

What kind of home can it be used for?

Denton Homebuyer Assistance Program can be used for Single-family.

• New construction is eligible.

Where does it apply?

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

How do you apply?

Applications for Denton 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.