Frisco Down Payment Assistance Program

What is Frisco Down Payment Assistance Program?

Frisco Down Payment Assistance Program is a forgivable loan for homebuyers in Frisco, Texas.

• City of Frisco grant program providing $10,000 for down payment assistance to income-eligible first-time homebuyers purchasing within Frisco city limits. Income must be at or below 80% AMI. Homebuyer education required.
• $10,000 grant for down payment assistance.
• Grant forgiven after 5-year owner-occupancy period.
• No repayment if home remains primary residence throughout forgiveness period.
• Homebuyer education required prior to closing.
• Funding comes from Local Government.

How much assistance does it provide?

Frisco Down Payment Assistance Program offers up to $10,000 in assistance.

• 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.

Do you have to pay it back?

Frisco Down Payment 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?

Frisco Down Payment 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?

Frisco Down Payment 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.

What kind of home can it be used for?

Frisco Down Payment Assistance Program can be used for Single Family, Condo, and Townhouse.

Where does it apply?

Frisco Down Payment Assistance Program serves buyers purchasing in Frisco, Texas.

How do you apply?

Applications for Frisco Down Payment 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.