The Down Payment Assistance Program (DPA) covers the down payment in a deferred 0% interest loan for eligible "first-time homebuyers" to assist with purchasing a home located within the Austin City Limits.
What does DPA cover?
Down payment and closing cost, and pre-paid expenses associated with buying a home
Dollar amount is based on financial need
Homebuyers may qualify for up to $40,000 in assistance
Standard DPA: Up to $10,000 in a deferred, forgivable, 0% interest loan for 10 years
Shared Equity DPA: Up to $40,000 in a deferred,0% interest loan for 30 years
Am I eligible?
I have not owned a home in the last three years, have been displaced, am divorced
Information for Lenders: To be approved to submit DPA applications on behalf of borrowers, individual loan officers must attend DPA training. There is no training scheduled at this time. For more information, contact 512-974-3100 or send an email to NHCDCS@austintexas.gov.
Information for Real Estate Agents: To learn more about DPA program processes and to better identify eligible homebuyers, please attend the next DPA Real Estate Agent Information Session. There are no sessions scheduled at this time. For more information, contact 512-974-3100 or send an email to NHCDCS@austintexas.gov.