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Wichita Falls First Time Home Buyer Program

Wichita Falls, Texas

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Income limit

80% AMI

Of area median income; varies by county and household size

Price cap

$209,000

Highest purchase price the program allows

Repayment

Grant

Not repaid

What is Wichita Falls First Time Home Buyer Program?

Wichita Falls First Time Home Buyer Program is a grant for homebuyers in Wichita Falls, Texas.

  • The City of Wichita Falls First Time Home Buyer Program provides $7,000–$10,000 as a deferred, non-interest-bearing loan for down payment, closing costs, or principal reduction. The loan is forgiven in annual increments over 5 years as long as the home remains the buyer's primary residence. Buyers must qualify for a standard fixed-rate mortgage.
  • Up to $10,000.
  • Deferred forgivable loan.
  • No interest.
  • Forgiven after 5 years of occupancy.
  • Annual forgiveness on each anniversary of closing.
  • Funding comes from Federal (HOME).

Do you have to pay it back?

Wichita Falls First Time Home Buyer Program is structured as a grant, so it is not repaid.

  • Repayment is triggered by Sale, Lease, Refinance, No Longer Primary, and Foreclosure.
  • 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?

Wichita Falls First Time Home Buyer Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • Citizenship or immigration status: yes

The program excludes

  • Purchases above the $209,000 price cap
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Wichita Falls First Time Home Buyer Program limits household income to 80% of the area median income, which varies by county and household size.

  • Low-to-moderate income; 1-person up to ~$47,600, family of 4 up to ~$68,000.
  • 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?

Wichita Falls First Time Home Buyer Program caps the purchase price at $209,000.

  • Eligible property types include Single-family.
  • New construction is eligible.

Where does it apply?

Wichita Falls First Time Home Buyer Program serves buyers purchasing in Wichita Falls, Texas.

How do you apply?

Applications for Wichita Falls First Time Home Buyer Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Contact the administering agency to reserve funds

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

  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.

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