Galveston First Time Homebuyers Program

Galveston First Time Homebuyers Program is a grant for homebuyers in Galveston, Texas. The City of Galveston Homebuyer Assistance Program provides up to $14,500 in HOME Investment Partnership Program funds to assist income-eligible first-time homebuyers with down payment and closing costs. Assistance is structured as a forgivable zero-percent interest second mortgage, forgiven after five consecutive years of owner-occupancy. The home must be within Galveston city limits and meet HUD Housing Quality Standards. Up to $14,500 assistance. 0% interest forgivable loan. Forgiven after 5 years occupancy. HUD-funded. Funding comes from Federal (HOME Investment Partnerships Program).

Galveston First Time Homebuyers Program offers up to $14,500 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.

Galveston First Time Homebuyers Program is structured as a grant, so it is not repaid. Repayment is triggered by Sale, Refinance, Transfer, 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.

Galveston First Time Homebuyers 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. A homebuyer education course is required. Citizenship or immigration status: yes.

Galveston First Time Homebuyers 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 per HUD guidelines. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Galveston First Time Homebuyers Program can be used for Single-family. New construction is eligible.

Galveston First Time Homebuyers Program serves homebuyers purchasing in Galveston, Texas. The program gives priority to designated target areas, so the address matters as well as the county.

Applications for Galveston First Time Homebuyers 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.