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HAP City of Houston $19,500 Houston Assistance Program

HAP City of Houston

HAP City of Houston $19,500 Houston Assistance Program HAP City of Houston

HAP City of Houston $19,500 Houston Assistance Program – Get up to $19,500 to help you buy your first home in Houston

 

The (HAP) which is known as the Houston Assistance Program was developed to provide assistance to low to average income home buyers. Bill Edge, who is a Texas Affordable Housing Specialist, has worked in conjunction with the city of Houston to ensure this program is made available to families in the incorporated part of Houston.

There have been some key changes for HAP in 2010. The $45,000 in Hurricane Ike assistance has ceased. The city of Houston has had differences in staff and in the paperwork needed by the city/. The difference of the maximum grant which is now $19,500 is one of the major changes. Time Homes must be occupied by homeowners as the principal residence has changed to 10 years instead of the previous 5 years. There has been increasing from a maximum of $135,000 to $200,160 in the sales price of the home.

The Houston Assistance Programs have provided us with approval to work with them, and our changes are the up-to-date so as to ensure the most appropriate results.

To see if you are suited for assistance, contact New Home Programs.

 HAP City of Houston $19,500 Houston Assistance Program HAP City of Houston

Homebuyer Assistance Program

The HCDD which is recognized as the City of Houston Housing and Community Development Department has created the Homebuyer Assistance Program to make available financial assistance to home buyers who have low-to-average income in the incorporated part of the city.

  • The HAP will be administered by HCDD staff based on the procedures and policies that have been set forth in the administrative guidelines (add link to Administrative Guidelines)
  • The will be availability of funding for HAP through the Home investment Partnerships Programme, the Tax Increment Reinvestment Zone (TIRZ), the Community Development Block Grant (CDBG) Program, and the American Dream Down Payment Initiative (ADDI)
  • Direct financial assistance to offset parts of the down payment would be provided by HAP alongside pre-paid items, closing costs and the principal needed for the purchase of homes

Eligibility Requirements – Homebuyers Assistance Program

To assist you in determining if you are a qualified applicant for the program, please read the information below.

HAP City of Houston $19,500 Houston Assistance Program HAP City of HoustonAbility to obtain a mortgage loan (credit worthiness, finance etc) must be demonstrated by the applicant

  • The combined income of the family must be below or at 80 percent of the area median income
  • At least 8 hours of homebuyer education must be completed by the applicant from any participating Housing counseling agency which is HUD-approved (updated 4.20.2010).
  • The single-family Mortgage limits under Section 203(b) of the National Housing Act ($200,160) cannot be exceeded by the sales price for the property
  • The property must be situated in the taxing jurisdiction of the City of Houston
  • New or existing homes must be purchased by applicants. The following structures are approved for HAP. They include;
  • Property for single family (detached and attached 1-4 units)
  • Townhouse/ Condominium unit
  • Manufactured home/ Modular home
  • Cooperative unit
  • An independent physical inspection on the property is required to be conducted by the HCDD inspection services section. It is highly encouraged that the potential homebuyer gets his/her own TREC inspection regardless of the completion of a physical inspection of the property by the HCCD’s inspector.
  • At least $500 must be invested into the home buying transaction by the applicant (i.e. earnest money, appraisal, etc.)

The combined annual household income of the applicants must be at or below the amount listed in the Household income limits in order to be qualified for HAP funds, $19,500 is the amount of assistance for all families who have income of *0percent or below the area median home.

2010 Household Income Limits

Family Size 80% of the Area

Median Income

  1. $36,500
  2. $41,700
  3. $46,900
  4. $52,100
  5. $56,300
  6. $60,450
  7. $64,650
  8. $68,800

Source: The City of Houston

HAP City of Houston HAP City of Houston $19,500 Houston Assistance Program HAP City of Houston HAP City of Houston $19,500 Houston Assistance Program - Get up to $19,500 to help you buy your first home in Houston

HAP City of Houston $19,500 Houston Assistance Program

Written by Cory Kammerdiener on . Posted in Home Buyer, Home Buyer Grants
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