Harris County Down Payment program Highlights

Houston area down payment program for first time home buyers. Yes you may qualify for the grant money of either  $14,200 or $9,500 this would depend on the property being new construction or resell home for the amount of grant given.The home needs to be 10 years or newer.

You should work with a Realtor® who is familiar with this program. You will need to have the home inspected by licensed inspector with the state and then the city will also send out their housing inspector to make sure the repairs from the first inspection is completed.

I have pulled some information from the Harris county site to give you more information on this program.

I am Houston Realtor® who has worked with the down payment assistance program .
Visit my website at www.keystomyplace.com or call/text me at 713-269-9235
Downpayment assistance is available to qualified buyers for homeownership.

The minimum requirements for the Harris County Downpayment Assistance Program:

DAP: $14,200 for new construction, $9,500 for resale properties
built within the current ten (10) years.  You must live in the house
for five (5) years, which is the affordability period.

DAP for disabled borrowers: $14,400 for new construction
and $14,400 for resale properties built within the current ten (10) years.  You must
live in the house for five (5) years, known as the affordability period.
 

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Homebuyer Information:

Checklist to insure that you meet the minimum DAP requirements:
 

• Buyer must meet income requirements (see income chart below)

• Maximum sales price of homes must not exceed FHA 203(b) limits in Harris County

• Home must be in an unincorporated area of Harris County (cannot be in the City
  of Houston, Pasadena, or Baytown)

• Homebuyer must be a 1st time homebuyer, or not have owned a home for
  three years prior to applying for assistance, or have lost previous
  home in extenuating circumstances such as a loss due to a fire, flood,
  or hurricane

• Buyer must be credit and program approved through one of Harris
  County's approved mortgage lenders (see Approved Lenders button below)

• Buyer must have at least $350 or 1/2 of lenders required down payment to
  invest in the purchase

• Buyer must have at least one credit score of 620

• Buyer's debt to income ratio (DTI) cannot exceed 42%

• Buyer cannot have more than $10,000 in liquid assets
   

• Everyone in the household must be a U.S. Citizen or permanent resident alien
   

• To begin the DAP process, all applicants must attend a homebuyer
  certificate program from a HUD approved homebuyer education
  course provider (see button below) and select a Harris County
  approved mortgage lender (see Approved Lenders button below)
   
• To participate in this program, you must live in the new or pre-owned house
  for a minimum of five years