Victoria Down Payment and Closing Cost Assistance

What is Victoria Down Payment and Closing Cost Assistance?

Victoria Down Payment and Closing Cost Assistance is a grant for homebuyers in Victoria, Texas.

• The City of Victoria Down Payment and Closing Cost Assistance Program provides up to $5,000 for down payment and up to $5,000 for closing costs (up to $10,000 total) to help low-to-moderate income first-time homebuyers achieve homeownership. Funded through the Community Development Block Grant (CDBG) program administered by HUD, this non-repayable grant assists qualified borrowers who can secure mortgage financing but lack sufficient funds for upfront costs. Properties must be within Victoria city limits and meet HUD property standards.
• Up to $5,000 for down payment assistance.
• up to $5,000 for closing cost assistance.
• non-repayable CDBG grant.
• helps low-to-moderate income first-time homebuyers.
• income limits at 80% AMI.
• no repayment required.
• Funding comes from Federal.

How much assistance does it provide?

Victoria Down Payment and Closing Cost Assistance offers up to $10,000 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?

Victoria Down Payment and Closing Cost Assistance is structured as a grant, so it is not repaid.

• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Victoria Down Payment and Closing Cost Assistance is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Victoria Down Payment and Closing Cost Assistance limits household income to 80% of the area median income, which varies by county and household size.

• 80% AMI limits (Victoria MSA, approx.): 1 person: $43,900; 2 person: $50,150; 3 person: $56,400; 4 person: $62,600; 5 person: $67,650; 6 person: $72,700. Verify current HUD income limits at huduser.gov.
• The limit applies to total household income, not only the borrower’s.
• 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?

Victoria Down Payment and Closing Cost Assistance can be used for Single Family.

Where does it apply?

Victoria Down Payment and Closing Cost Assistance serves buyers purchasing in Victoria, Texas.

How do you apply?

Applications for Victoria Down Payment and Closing Cost Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Contact the administering agency to reserve funds

   Funds are reserved with the provider and are subject to availability.

2. 2

   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.