Texarkana First-Time Homebuyer Assistance Program

Texarkana First-Time Homebuyer Assistance Program is a forgivable loan for homebuyers in Texarkana, Texas. The Texarkana First-Time Homebuyer Assistance Program provides up to $20,000 in down payment and closing cost assistance to qualified first-time homebuyers purchasing homes within Texarkana city limits. Funded through HUD's Community Development Block Grant (CDBG) program, the assistance is structured as a 0% interest deferred forgivable loan forgiven after 5 years of owner-occupancy. Administered by the City of Texarkana Planning & Community Development Department. Up to $20,000 in down payment and closing cost assistance. 0% interest deferred forgivable loan. forgiven after 5 years of continuous owner-occupancy. no monthly payments required. funded through HUD Community Development Block Grant (CDBG). Funding comes from Federal.

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.

Texarkana First-Time Homebuyer Assistance 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.

Texarkana First-Time Homebuyer Assistance 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 within the past 3 years. Within Texarkana city limits; US citizens or legal resident aliens; income at or below 80% AMI.

Texarkana First-Time Homebuyer Assistance Program limits household income to 80% of the area median income, which varies by county and household size. At or below 80% of Area Median Income (AMI) for Bowie County, TX. Income limits determined by HUD and vary by 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.

Texarkana First-Time Homebuyer Assistance Program can be used for Single Family and New Construction. New construction is eligible.

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

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. 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.