San Antonio HIP 120 (Homeownership Incentive Program)

San Antonio HIP 120 (Homeownership Incentive Program) is a grant for homebuyers in San Antonio, Texas. San Antonio HIP 120 offers 0% interest down payment and closing cost assistance of $1,000 to $15,000 for first-time homebuyers earning between 80% and 120% of AMI. The loan structure is 75% forgivable over a 10-year period; the remaining 25% is a perpetual second lien that must be repaid upon sale, refinance, or transfer. Buyers must purchase within San Antonio city limits. Up to $15,000 in 0% interest DPA. 75% forgiven over 10 years. 25% perpetual/repayable portion. HUD-approved homebuyer education required. Funding comes from Local.

San Antonio HIP 120 (Homeownership Incentive 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.

San Antonio HIP 120 (Homeownership Incentive Program) is structured as a grant, so it is not repaid. Repayment is triggered by Sale, Refinance, 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.

San Antonio HIP 120 (Homeownership Incentive 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.

San Antonio HIP 120 (Homeownership Incentive Program) limits household income to 120% of the area median income, which varies by county and household size. Household income at or below 120% AMI (for households above 80% AMI). 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 Antonio HIP 120 (Homeownership Incentive Program) caps the purchase price at $325,800. Eligible property types include Single-family. New construction is eligible.

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

Applications for San Antonio HIP 120 (Homeownership Incentive 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.