Texarkana First Time Homebuyer Assistance Program

What is Texarkana First Time Homebuyer Assistance Program?

Texarkana First Time Homebuyer Assistance Program is a grant for homebuyers in Texarkana, Texas.

• The City of Texarkana First-Time Homebuyer Assistance Program provides up to $20,000 in deferred, forgivable loan assistance for down payment and closing costs to income-eligible first-time homebuyers purchasing within Texarkana, Texas city limits. Households must be at or below 80% AMI and must maintain owner-occupancy to earn forgiveness (typically 5 years). Funded by TDHCA HOME Investment Partnerships.
• Up to $20,000 in deferred forgivable loan.
• Must remain owner-occupied for forgiveness.
• Targets first-time homebuyers within Texarkana city limits.
• Funding comes from Federal.

How much assistance does it provide?

Texarkana First Time Homebuyer Assistance Program offers up to $20,000 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.

Do you have to pay it back?

Texarkana First Time Homebuyer Assistance 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.

Who qualifies?

Texarkana First Time Homebuyer Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Texarkana First Time Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% of Area Median Income based on 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?

Texarkana First Time Homebuyer Assistance Program can be used for Single-family.

• New construction is eligible.

Where does it apply?

Texarkana First Time Homebuyer Assistance Program serves buyers purchasing in Texarkana, Texas.

How do you apply?

Applications for Texarkana First Time Homebuyer Assistance 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.