Homeownership Incentive Program (HIP 120)

What is Homeownership Incentive Program (HIP 120)?

Homeownership Incentive Program (HIP 120) is a deferred second loan for homebuyers in San Antonio, Texas.

• San Antonio NHSD HIP 120 tier - up to $12,000 deferred 0% DPA for buyers between 80%-120% AMI Bexar County. Higher purchase price ($305K-$325K) and income tier vs HIP 80.
• City of San Antonio's HIP 120 - the 80%-120% AMI tier of the Homeownership Incentive Program - provides up to $12,000 in down payment and closing cost assistance as a deferred 0% second mortgage. Funds may be applied to down payment, closing costs, prepaids. Targeted at moderate to middle-income buyers earning between 80% and 120% of San Antonio MSA AMI ($81,150-$153,000 by household size). Maximum purchase price $305,200-$325,800 by HH size.
• Funding comes from Local.

Do you have to pay it back?

Homeownership Incentive Program (HIP 120) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Full balance due at sale, refinance, transfer of title, or cessation of owner-occupancy. No monthly payments.
• 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?

Homeownership Incentive Program (HIP 120) is open to buyers who will live in the home as their primary residence.

What are the income limits?

Homeownership Incentive Program (HIP 120) limits household income to 120% of the area median income, which varies by county and household size.

• 80%-120% AMI San Antonio MSA: range from approximately $81,150 (1-person 80% AMI floor) to $153,000 (8-person 120% AMI ceiling) by household size. Updated annually.
• The limit applies to total household income, not only the borrower’s.
• The program lists a maximum household size of 8.
• 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?

Homeownership Incentive Program (HIP 120) caps the purchase price at $325,800.

• Eligible property types include Single-family detached, townhouse, condominium, PUD and 1-unit.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Homeownership Incentive Program (HIP 120) 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?

Homeownership Incentive Program (HIP 120) serves buyers purchasing in San Antonio, Texas.

How do you apply?

Applications for Homeownership Incentive Program (HIP 120) 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 8-hour homebuyer education required..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply through NHSD; subject to annual funding availability., 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.