Tom Green County Down Payment Assistance

What is Tom Green County Down Payment Assistance?

Tom Green County Down Payment Assistance is a grant for homebuyers in San Angelo, Texas.

• The City of San Angelo Homebuyer Assistance Program (HAP) provides up to $15,000 (not to exceed 15% of appraised value) in down payment and closing cost assistance to first-time homebuyers purchasing within city limits in Tom Green County. Funded through the HOME Investment Partnerships Program, the assistance is a deferred loan forgiven after 5 years of continued owner-occupancy. A separate AHAP program for new construction offers up to $50,000.
• Up to $15,000 in down payment and closing cost assistance.
• HOME-funded.
• Must maintain owner occupancy for 5 years.
• First-time homebuyers only.
• Within San Angelo city limits.
• Funding comes from Federal.

Do you have to pay it back?

Tom Green County Down Payment Assistance 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?

Tom Green County Down Payment Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Tom Green County Down Payment Assistance 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.
• 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?

Tom Green County Down Payment Assistance can be used for Single-family.

• New construction is eligible.

Where does it apply?

Tom Green County Down Payment Assistance serves buyers purchasing in San Angelo, Texas.

How do you apply?

Applications for Tom Green County Down Payment Assistance 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.