San Angelo First-Time Homebuyers Program

What is San Angelo First-Time Homebuyers Program?

San Angelo First-Time Homebuyers Program is a forgivable loan for homebuyers in San Angelo, Texas.

• City of San Angelo Homebuyer Assistance Program (HAP) provides deferred, forgivable loans for down payment and closing cost assistance to income-qualified first-time homebuyers purchasing homes within San Angelo city limits. Funded through the HOME Investment Partnership Program, assistance up to $15,000 (not to exceed 15% of appraised value) is forgiven after 5 years of owner-occupancy as primary residence.
• Up to $15,000 in down payment and closing cost assistance (not to exceed 15% of appraised value).
• 0% interest deferred loan forgiven after 5 years of owner-occupancy.
• Covers both down payment and closing costs.
• New construction also eligible with $750 available for city tax lot purchase.
• Based on demonstrated client need.
• Funding comes from Federal.

How much assistance does it provide?

San Angelo First-Time Homebuyers Program offers up to $15,000 in assistance.

• Award tier “HAP Standard” — up to $15,000. Who qualifies: Income at or below 80% AMI; first-time homebuyers within San Angelo city limits.
• 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?

San Angelo First-Time Homebuyers Program is forgiven after 5 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Sale, Refinance, No Longer Primary, and Transfer of Title.
• 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?

San Angelo First-Time Homebuyers Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

San Angelo 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.

What kind of home can it be used for?

San Angelo First-Time Homebuyers Program can be used for Single Family and New Construction.

• New construction is eligible.

Where does it apply?

San Angelo First-Time Homebuyers Program serves buyers purchasing in San Angelo, Texas.

How do you apply?

Applications for San Angelo First-Time Homebuyers 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 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.