Homebuyer Down Payment Assistance Program

What is Homebuyer Down Payment Assistance Program?

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

• Up to $25,000 forgivable second mortgage at 0% interest for first-time homebuyers in Irving city limits. HOME-funded. Tiered affordability: 5-year (<$15K) or 10-year ($15K-$40K). 80% AMI ceiling. 620 FICO.
• City of Irving's Homebuyer Down Payment Assistance Program provides up to $25,000 in down payment and closing cost assistance to first-time homebuyers purchasing primary residences within Irving city limits. HOME-funded. Structured as a 0% interest deferred forgivable second mortgage. Tiered affordability per HUD HOME 24 CFR 92.254: 5-year (under $15K) or 10-year ($15K-$40K). Pairs with FHA, VA, USDA, or conventional 30-year fixed first mortgage. 80% AMI ceiling.
• Funding comes from Federal.

Do you have to pay it back?

Homebuyer Down Payment Assistance Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Deferred 0% second mortgage. 5-year affordability for under $15K and 10-year for $15K-$40K per HUD HOME. Sale, refinance with cash-out, transfer, or vacating before period ends triggers repayment of unforgiven balance.
• 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?

Homebuyer 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?

Homebuyer Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• 80% AMI for Dallas-Fort Worth-Arlington MSA per HUD; 1-person $61,800 / 4-person $88,300 / 8-person $116,500 (2025 limits).
• The limit applies to total household income, not only the borrower&rsquo;s.
• 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?

Homebuyer Down Payment Assistance Program caps the purchase price as follows: Per HUD HOME 95% area median rule; verify with City at application.

• Eligible property types include Single-family detached, condominium, townhouse, PUD. Must be primary residence.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Homebuyer Down Payment Assistance Program names veterans, active-duty service members, reservists and National Guard members, and surviving spouses among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Homebuyer Down Payment Assistance Program serves buyers purchasing in Irving, Texas.

How do you apply?

Applications for Homebuyer 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, through HUD-approved homebuyer education required (8-hour class). Local providers include Frameworks CDC, Housing Channel, and other HUD-approved counseling agencies in DFW MSA..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Reserved by participating lender through City of Irving Housing & Human Services. Funds available on first-come, first-served basis subject to annual HUD HOME allocation., 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.