‚ÄčTargeted Occupations Homebuyer Assistance Program


The Targeted Occupations Homebuyer Assistance Program is designed to provide homeownership opportunities to those who have direct impact in Dallas communities.

Homebuyers must have an annual household gross income of 120 percent or less of the Dallas Area Median Family Income to purchase a home within the city limits of Dallas.  Annual gross income is a snapshot of the household's current circumstances projected for the next 12 months.

Eligible households may receive assistance for down payment, closing costs and principal reduction. 

The program is intended for those in the following occupations:

  • Education instruction and library occupations
  • Healthcare practitioners and technical occupations
  • Healthcare support occupations
  • Protective services occupations, including but not limited to fire fighters and police officers.

Household annual gross income must be within the HUD income limits as stated in the following income chart:

               Household Size

Minimum

Household Income

Maximum Household Income
1$36,240$72,408
2$41,400$82,752
3$46,560$93,096
4$51,720$103,440
5$55.860$111,715
6$60,000$119,990

 

Household annual income includes eligible types of income and assets.  (Part 5 Income Determination Method)                 

 

Eligible Homebuyer Requirements

  1. Homebuyer incomes must be between 60% and 120% of the Area Median Income for household size. 
  2. All other DHAP homebuyer requirements will apply.  See Homebuyer First Steps.

Funding Limitation

 The actual amount of assistance will be determined on an as needed basis not to exceed $45,000.

 The applicant must have an executed real estate sales contract and mortgage lender approval for a first lien mortgage loan. 

 The assistance is a second lien as a forgivable deferred loan.  Loan terms are interest-free with no monthly payments, prorated annually based on a five (5) affordability period (residency term of the loan).  Partial repayment is due upon sale, lease, transfer or other disposition of the property.