Homebuyer Assistance Program
Purpose: The City of Texarkana, Texas’ Homebuyers Assistance Program is funded through grants from the U.S. Department of Housing and Urban Development (HUD) and the Texas Department of Housing and Community Affairs (TDHCA) to assist with down payment and/or closing cost assistance through the HOME program. First Time Homebuyer Assistance Program is designed to assist low to moderate income homebuyers. The purpose of this program is to enhance, expand and establish growth in the City of Texarkana, Texas by extending an investment opportunity for future home OWNERS. This program specifically targets low to moderate income families.
Program Information: The Homebuyers Assistance Program is for low to moderate income persons wishing to purchase a home. This funding pays up to $20,000 towards the down-payment, and or closing cost. Assistance received is in the form of a deferred forgivable loan.
Applications: Please contact Betsy Freeman at 903-798-1779 to schedule an appointment to discuss and review the application documents or click here to schedule an appointment. You may also download and print a copy of the Homebuyers Assistance application documents below.
Applicants to be awarded assistance: Homebuyers who have not owned a home during the past three years who meet program income guidelines and do not exceed the program purchase price limits in the target area.
Income Limitation Requirements: Gross Annual income must be 80% or less of Area Median Family Income (AMFI) as defined by HUD. These figures are based on the U.S. Department of HUD Section 8 Income Levels, adjusted annually. All income of the persons who will reside in the dwelling shall be counted as part of the applicant’s income.
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Eligible Property Types for Homebuyer Assistance
- Certification of Principal Residence
- First Time Homebuyer Information Sheet 2015
- Homeownership Education Class
- Loan Addendum
- Protect Your Family From Lead In Your Home
- Receipt of LBP
- Release and Consent Form
- Sellers Disclosure of Information on Lead Based Paint
- Verification of Disability