Imagine a house with two, three, even four bedrooms and a yard in a neighborhood that you're proud to call your own. The dream to homeownership can be a reality through the Down Payment Assistance Program.
If you're a resident of either the Public Housing or the Housing Choice Voucher Programs and are a first-time home buyer, you may qualify to receive down payment assistance.
How can I qualify?
- You must be a HACA resident.
- You must be a first-time home buyer or cannot have owned a home in the last three years.
- You must be able to contribute a minimum of $2,500 toward the down payment, closing costs or reserves.
- You must qualify for a first lien mortgage and have received first mortgage financing from a private financial institution.
- You must attend and complete a HACA-approved home buyer training course.
If all of the above criteria are met, HACA's Down Payment Assistance Program will provide funding of $10,000 toward the down payment. Program funds are on a first-come, first-served basis. You will not have to pay back the loan unless you default on your house payments. If you do not default on your mortgage payments, your loan is forgiven after five years!
For more information on HACA's Down Payment Assistance Program, please call Suzanne Schwertner, Residential Mortgage Loan Originator, NMLS #329226 for the Austin Affordable Housing Corporation, NLMS #329395, 1124 S. IH-35, Austin, TX, 78704, at (512) 477-4488 ext. 2118.
- Homeownership Down Payment Assistance Program: A Guide to Homeownership
- Homeownership Step-by-Step Guide
- AAHC Resident Enrollment Application
- First Time Homebuyer Flyer
Customers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, TX 78705. Complaint forms and instructions may be obtained from the department's website at: www.SML.Texas.gov. A toll-free consumer hotline is available at: 1-(877)-276-5550.
The department maintains a recovery fund to make payments of certain actual out-of-pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with an investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department's website at: www.SML.TEXAS.gov.