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.

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.

San Angelo First-Time Homebuyers Program is forgiven after 5 years, so a homebuyer 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.

San Angelo First-Time Homebuyers Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Have not owned a home in the last 3 years. On credit, the program states: Must meet primary lender's credit requirements. A homebuyer education course is required. Citizenship or immigration status: U.S. Citizen or Permanent Resident. Within San Angelo city limits; first-time homebuyers or haven't owned home in last 3 years; income eligible.

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.

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

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

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. 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.