Targeted Occupations Homebuyer Assistance Program
Funding for the 2020-2021 program year has been expended for the Targeted Occupations program. Future funds are anticipated in the October 2021. Please check back for funding updates.
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:
Household annual gross income must be within the HUD income limits as stated in the following income chart:
Household annual income includes eligible types of income and assets. (Part 5 Income Determination Method)
Eligible Homebuyer Requirements
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 the affordability period (residency term of the loan). Partial repayment is due upon sale, lease, transfer or other disposition of the property.