Houston First-Time Homebuyers Program

Houston First-Time Homebuyers Program is a forgivable loan for homebuyers in Houston, Texas. City of Houston Housing and Community Development Department (HCDD) forgivable loan program providing up to $30,000 in down payment and closing cost assistance. Loan is forgiven at 20% per year over 5 years of owner-occupancy with no repayment if the homeowner remains in the home. Exclusively for first-time homebuyers within City of Houston city limits. Fixed-rate mortgage required. Minimum $350 buyer contribution required. Up to $30,000 in down payment and closing cost assistance. Forgivable loan forgiven at 20% per year over 5 years of owner-occupancy. No repayment required after completing 5-year occupancy requirement. Fixed-rate first mortgage required. Minimum $350 borrower contribution required. Funding comes from Local Government.

Houston First-Time Homebuyers Program offers up to $30,000 in assistance. The program asks homebuyers to contribute $350. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Houston First-Time Homebuyers Program is a forgivable loan, so the balance is forgiven once the program's conditions are met. Repayment is triggered by Sale, No Longer Primary, and Transfer of Title. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Houston 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: U.S. Citizen or Permanent Resident. Within Houston city limits; pay taxes to City of Houston; first-time homebuyers or haven't owned home in last 3 years.

Houston First-Time Homebuyers 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.

Houston First-Time Homebuyers Program can be used for Single Family, Condo, Townhouse, and New Construction. New construction is eligible.

Houston First-Time Homebuyers Program serves homebuyers purchasing in Houston, Texas.

Applications for Houston 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.