Purpose: The City of Texarkana, Texas’ Homebuyers Assistance Program is funded through grants from the U.S. Department of Housing and Urban Development (HUD) to assist with down payment and/or closing cost assistance through the Community Development Block Grant (CDBG) 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 for closing costs and half of the required down-payment. Assistance received is in the form of a deferred forgivable loan.
Applications:Please contact Betsy Freeman at 903-798-1779 to discuss any questions you have and to request the application documents or you may 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 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.
INCOME LIMITS BY FAMILY SIZE 2018
Eligible Property Types for Homebuyer Assistance
Single Family site built home within the city limits of Texarkana, Texas