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Building Better Communities Throughout Harris County
IMPORTANT INFORMATION:
Loan Officers and Processors: Due to the number of DAP files that have been submitted, and the anticipated number in October and November, Lending Services needs to inform you that after October 1, 2009, we cannot guarantee a client will be able to close by November 30, 2009. As you know that is the “sunset” date on the First Time Homebuyer IRS Tax Refund. It is also the Thanksgiving weekend and the County offices will be closed on Thursday, November 26, and Friday, November 27, for the holiday.
PLEASE have your DAP files complete when submitted. We really will not have the time to wait on information and that will delay closings.
Thank you.
With the Downpayment Assistance Program (DAP) and
The American Dream Downpayment Initiative (ADDI)
Trapped paying rent because you don't think you have the money for a house downpayment ? We have money for you thru DAP.
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For information on programs that can help you buy a house with down payment assistance grants: Harris County, City of Houston, and SETH.
The Downpayment Assistance Program phone helpline is (713) 578-2210.
The Community Service's Downpayment Assistance Program (DAP) can financially help you purchase your dream house in Harris County, if you are income eligible and a first-time homebuyer. For information on the DAP steps, click here.
For general information please click here to find an article from the Houston Chronicle.
$$$$$ For the DAP grant amounts and the process check list, click here. $$$$$
The following guidelines will help determine if you qualify for the Harris County Downpayment Assistance Program (DAP) for a home with a maximum purchase price of homes not to exceed FHA 203(b) limits in Harris County:
To participate in this program, you must live in the new house or the pre-owned house for a minimum of five years, depending on the amount of the award.
In order to qualify for downpayment assistance, you must be a 1st time homebuyer, or not have owned a house for three years prior to applying for assistance, and be income qualified by the chart below.
Click here for a listing of HUD approved homebuyer education providers.
As of March 2009, the total family gross income cannot exceed the following:
Number
of family members |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
| Max annual income* |
$35,750 |
$40,850 |
$45,950 |
$51,050 |
$55,150 |
$59,200 |
$63,300 |
$67,400 |
* Your income is not totally determined from your paycheck. It is also determined by use of your checking, savings, investment, and retirement accounts at a rate of 2 percent, plus any
other forms of income you might receive, such as child support, reoccurring gifts, etc.
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Buyer must have at least $350 or 1/2 of lenders down payment, as required toward the purchase price to invest in the house.
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Buyer cannot have more than $10,000 in liquid assets, such as stocks, cash, or bonds.
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Buyer must have at least one credit score of 620.
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Buyer's debt to income ratio (DTI) cannot exceed 42%.
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Buyer must be credit and program approved through one of the listed
mortgage lenders and Harris County to receive downpayment assistance.
This program is on a first come first serve basis.
Since funds are limited, act quickly.
For DAP definitions, click here
To calculate how much house you can afford, click here.
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For more on the sequence of DAP Steps, 1-2-3, click here.
For the City of Houston's program, please click here.
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For a Downpayment Assistance Program checklist, check here. |
Email us your comments and questions.
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