Realty Down Payment Assistance
|Home Sweet Home CRC has a few different Down Payment
Assistance Programs to help you attain your goal of homeowner ship.
The following is an outline of the programs available through True
Affordable Housing Program. For questions, call 713-492-2137 or email
True Affordable Housing DPA
True Affordable Housing offers down payment assistance for a limited
number of homes in the Texas and Louisiana Region. We offers down
payment assistance for buyers who are at or below 120% Area Median
Income (see AMI chart below) for buyers who are at or below 120% Area
Median Income (see AMI chart below)
About the Program
The vision for the True Affordable Housing DPA is to create a mixed income
community of opportunity. To that end, Home Sweet Home CRC provides Down
payment Assistance, in the form of subordinate loans, to make the homes at Home
Sweet Home CRC affordable to income eligible families earning 120% or less of the
Area Median Income. For Phase 8, buyers who income qualify at <120% AMI are
eligible to receive a $5,000 forgivable loan over 5 years (5% per year).
The Home Sweet Home CRC Subordinate Loans will supplement first loans
provided by conventional and FHA lenders. All requirements of the first loan must
be met. For FHA borrowers, the minimum 3.5% buyer down payment and upper
income limit of <115% of AMI still apply. Home Sweet Home CRC Subordinate Loans
may be used in combination with subsidies provided by other funders if the other
funders allow. The intention of these loans is to make the eligible home buyer’s
monthly payments more affordable.
*Down payment and/or closing cost assistance grant, up to 5% of the loan amount.
*DPA grant never has to be repaid.
*Affordable interest rates and variety of grant levels.
*FHA, VA, USDA and Conventional mortgage loan options.
*NOT limited to first-time home buyers.
*This program is also used with anyone renting a home from our True Affordable
Housing Program and want to become a home owner.
ADVANTAGES OF A DPA GRANT
A DPA grant decreases home buyer costs, avoids burdening the home buyer with
additional debt and eliminates property liens associated with secondary financing
This also creates a long-term positive domino effect because the housing market is
infused with borrowers holding more equity for a future move-up purchase if they
desire, in turn freeing up another potential entry-level property.
DPA grant never has to be repaid.
Grant reduces debt and creates positive home equity.
Grant creates a positive impact on housing economy.
Prospective homeowners who are Pre-approved through an Approved Lender
for the Home Sweet Home CRC Down Payment Program meet the Income
Restrictions of being at or below 120% AMI (see AMI chart below), and
attend Home Sweet Home CRC or HPP Cares Pre-Purchase Home buyer
Education class and subsequent one-on-one counseling.
There are a limited number of homes available with our down payment.
Prospective home buyers are added to a list of qualified buyers for these
resources based on the date/time they submit a complete Income
Our organization also help home buyers that are not purchasing a home from
our selection of homes. Buyer must be using a Realtor that is Partner with
The Real Estate Association. Buyer must take a home buyer 8 hour course
from Home Sweet Home Community Redevelopment or HPP CARES E-home
How To Apply
To apply, submit a complete Income Qualification Packet to Home Sweet
Home Community Redevelopment Corporation which includes Income
Qualification Checklist and Program Eligibility Questionnaire available below.
Income Qualification Checklist
Program Eligibility Questionnaire
Required Supporting Documents outlined in the Income Qualification