New Homes In Dallas County
Unlocking Homeownership: Down Payment Assistance for First-Time Home Buyers in Dallas County
Buying your first home is an exciting milestone, but saving for a down payment can be a significant hurdle. Fortunately, Dallas County offers several programs to help first-time home buyers achieve their dream of homeownership. In this blog, we’ll explore some of these programs, their benefits, and how you can take advantage of them.
Dallas Homebuyer Assistance Program (DHAP)
The Dallas Homebuyer Assistance Program (DHAP) provides financial assistance to low- and moderate-income homebuyers. This program offers up to $60,000 in high-opportunity areas and up to $50,000 in other locations within Dallas[1]. The assistance can be used for down payments, closing costs, and other related expenses.
Benefits:
Significant financial assistance to reduce the upfront costs of buying a home.
Helps make homeownership more accessible for low- and moderate-income families. Supports community stability by encouraging long-term residency.
For more information, visit the DHAP website.
Dallas County Home Loan Counseling Center (HLCC)
The Dallas County Home Loan Counseling Center (HLCC) offers a variety of services to assist first-time homebuyers, including down payment assistance through the Upfront Cost Assistance Program (UPCAP). This program provides funds at closing to eligible homebuyers[2].
Benefits:
Free homebuyer education and mortgage counseling. Assistance with closing costs and down payments.
Support for existing homeowners with foreclosure prevention and credit counseling. Learn more about the HLCC and its programs on the Dallas County website.
Texas State Affordable Housing Corporation (TSAHC)
The Texas State Affordable Housing Corporation (TSAHC) offers down payment assistance programs for first-time homebuyers across Texas, including Dallas County. TSAHC provides grants and deferred forgivable second lien loans to help with down payments[3].
Benefits:
Grants that do not need to be repaid.
Deferred forgivable loans that only need to be repaid if you sell or refinance within three years.
Programs available for both first-time and repeat homebuyers. To see if you qualify, take the TSAHC Eligibility Quiz.
Conclusion
Dallas County offers a range of programs to help first-time homebuyers overcome the financial challenges of purchasing a home. By taking advantage of these resources, you can make your dream of homeownership a reality. Be sure to explore the links provided for more detailed information and to start your journey towards owning your first home.
Happy house hunting!
[1]: Dallas Homebuyer Assistance Program (DHAP) [2]: Dallas County Home Loan Counseling Center
(HLCC) [3]: Texas State Affordable Housing Corporation (TSAHC)
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