Harris County Housing Finance Corporation Down Payment Assistance

What is Harris County Housing Finance Corporation Down Payment Assistance?

Harris County Housing Finance Corporation Down Payment Assistance is a grant for homebuyers in Houston, Texas.

• The Harris County Housing Finance Corporation offers a forgivable down payment assistance loan of up to $23,800 for first-time homebuyers purchasing in Harris County (excluding Houston, Baytown, Deer Park, Friendswood, La Porte, League City, Missouri City, Pasadena, and Pearland). Assistance is provided as a 0% interest second lien paired with a 30-year fixed-rate first mortgage, fully forgiven after 5 years of owner-occupancy.
• Up to $23,800 in down payment and closing cost assistance.
• Fully forgivable after 5 years.
• 0% interest.
• 30-year fixed rate first mortgage.
• Funding comes from Local.

How much assistance does it provide?

Harris County Housing Finance Corporation Down Payment Assistance offers up to $23,800 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?

Harris County Housing Finance Corporation Down Payment Assistance is structured as a grant, so it is not repaid.

• 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?

Harris County Housing Finance Corporation Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Harris County Housing Finance Corporation Down Payment Assistance limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI; see HCHFC income limit chart for 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?

Harris County Housing Finance Corporation Down Payment Assistance can be used for Single-family.

• New construction is eligible.

Where does it apply?

Harris County Housing Finance Corporation Down Payment Assistance serves buyers purchasing in Houston, Texas.

How do you apply?

Applications for Harris County Housing Finance Corporation Down Payment Assistance 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.