City of Austin Shared Equity Down Payment Assistance Program
City of Austin Shared Equity Down Payment Assistance Program
Program Category
Down Payment Programs
Max Amount
Up to $40,000
30% of Purchase Price
30% of Purchase Price
Contact Info
Neighborhood Housing & Community Development Dept. 512-974-3100
Pam Skogland nhcdcs@austintexas.gov
Pam Skogland nhcdcs@austintexas.gov
Program Details
Buyer contribution type
$
Income calc method
Compliance Income
First mortgage types
Freddie Mac,Freddie Mac Home Possible,Fannie Mae,Fannie Mae HomeReady,FHA 203(b),VA
First mortgage terms
Fully Amortizing,Fixed Rate,30-year
Property types
Single Family Detached, Condo, Townhome/PUD, Manufactured Home
Repayment triggers
Sale of the home
Change of occupancy
Refinance
Transfer of title
Home equity loan
Loan Forgiveness
Fully
Program Guide
Program Overview:
https://www.austintexas.gov/page/homebuyer-education-and-assistanceIncome Limits:
https://www.austintexas.gov/sites/default/files/files/Housing/HUD%20HOME%20MFI%20Income%20and%20Rent%20Limits%202024.pdfFlyers (English):
https://www.austintexas.gov/sites/default/files/files/NHCD/Down_Payment_Assistance_Application.pdfFAQ:
https://www.austintexas.gov/sites/default/files/files/Housing/DPA/dpa_faq_052013.pdfLimitations
Properties must be single-family home, condo, or townhome within the Austin City Limits. Manufactured homes are also eligible if the manufactured home has a foundation which is permanently affixed to the land.
Mortgage insurance costs/fee are not eligible to be covered by the assistance.
Mortgage insurance costs/fee are not eligible to be covered by the assistance.
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