Midland Homebuyer Assistance Program

Midland Homebuyer Assistance Program is a deferred second loan for homebuyers in Midland, Texas. The City of Midland Homebuyer Assistance Program provides up to $15,000 in financial assistance to low-income first-time homebuyers purchasing within Midland city limits. The HAP loan combines an amortized loan portion (monthly payments at a low interest rate) and a deferred forgivable portion. The loan is fully forgiven after 10 years of owner-occupancy. Buyers must complete homeownership training and contribute at least $1,000 personally. Up to $15,000 assistance. Forgiven after 10 years. Combination of amortized and deferred forgivable loan. Minimum $1,000 buyer contribution. Funding comes from Local/Federal (HOME/CDBG).

Midland Homebuyer Assistance Program offers up to $15,000 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.

Midland Homebuyer Assistance Program is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale 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.

Midland Homebuyer Assistance 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.

Midland Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Low-income first-time homebuyers must meet HUD income guidelines 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.

Midland Homebuyer Assistance Program can be used for Single-family. New construction is eligible.

Midland Homebuyer Assistance Program serves homebuyers purchasing in Midland, Texas.

Applications for Midland Homebuyer Assistance 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.