If you have long dreamed of becoming a homeowner, but just need a bit of a boost in order to make your down payment, you’re in luck—the City may be able to lend a hand.
The City of Arlington sponsors a down payment and closing cost assistance program for qualified first-time homebuyers with modest incomes (a family of four with a household income of no more than $54,650 for example).
The Arlington Homebuyers Assistance Program (AHAP) offers a no-interest, deferred loan of up to $7,500 for qualified first-time buyers, and the loan is forgivable over five years if the borrower continues to reside in the home.Up to $10,000 of assistance may be available for households with a qualified Social Security Income recipient, or for borrowers purchasing homes in the City’s Neighborhood Revitalization Strategy Area (NRSA), located primarily in the 76010, 76011, 76012 or 76013 zip codes.In an effort to contribute to long-term sustainable homeownership in our community, applicants are required to complete a series of homeowner education classes, offered by program administrator Tarrant County Housing Partnership, that cover topics like budgeting and home maintenance. Learn more
.“There are families in our community that are in a situation where they have the income to afford mortgage payments and can qualify for the mortgage, but they just don’t have the savings to get over the hurdle to provide the down payment and cover closing costs,” said David Zappasodi, executive director of the City’s housing authority.Zappasodi said that funds are available on a first-come, first-served basis, so residents are encouraged to apply as soon as possible.“Current low mortgage rates and affordable home prices, combined with the assistance offered by AHAP, make this an excellent opportunity to fulfill someone’s dream of owning a home,” he said.Learn more about income eligibility and other program elements