Dallas Homebuyer Assistance Program
Program Year 2018-2019
- DHAP funds are available to eligible homebuyers purchasing a home as their primary residence.
- The amount of assistance will be based on need and determined by DHAP underwriting guidelines. The amount may not exceed the following limits:
- High Opportunity Areas** - $60,000
- All other locations in Dallas - $40,000
- **High Opportunity Areas are areas within the City of Dallas where the census tract has poverty rates of 20% or below. To determine whether or not a purchase property sits in a high opportunity area, use this link to enter the property address: https://dallasgis.maps.arcgis.com/apps/View/index.html?appid=6eb9d6f5ee2a43d08ceb458a91f68aac. High opportunity areas are coded in blue and will provide the actual poverty rate for that census tract.
- Properties occupied by a tenant other than seller/borrower must be vacated for a period of 60 days prior to execution of a sales contract.
- Property must be located within the city limits of Dallas.
- Total household income must be between 60% and 80% of the Dallas Area Median Family Income, based on household size.
- Property must meet Minimum Housing Standards (MHS).
- Homebuyer must receive pre-purchase education by a DHAP and HUD approved agency.
- Homebuyer must invest at least $1,000 toward the purchase of the home and have at least two (2) months mortgage payments in reserves after closing.
- Homebuyer is limited to $10,000 in liquid assets.
- The assistance is a second lien as a forgivable deferred loan. Forgiveness is based on the residency terms of the loan (affordability period). Partial repayment is due upon sale, lease, transfer or other disposition of the property.
Additional Homebuyer Assistance
- Mortgage Credit Certificate Programs (MCC) may also be combined with DHAP. Contact your mortgage lender for further details.