Homebuyer Program

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Down Payment and Closing Cost Assistance

The City can provide down payment assistance, 5% or 10% of the purchase price, for existing home. Homes considered for purchase must be pre-approved and meet the Housing Quality Standards. The City will also provide closing cost assistance of up to $3,500.00 for eligible closing cost. In no case will the down payment and closing cost assistance exceed $10,000.00. The assistance is a zero-interest, deferred payment loan with a minimum of $1,000.00 and a maximum of $10,000.00 for down payment and closing cost for the purchase of an existing home.  

The assistance for newly constructed homes will also be provided at zero-interest, deferred payment loan with a minimum of $2,500.00 and a maximum of $20,000.00 for down payment based on the family income and size. The City will also provide closing cost assistance of up to $4,000.00 for eligible closing cost. In no event will the total assistance exceed $24,000.00.

To be eligible households must have annual income that is less than the income limits set by the U.S. Department of Housing and Urban Development (HUD) every year. To determine your eligibility refer to the table below.  (Income limits change annually typically in March or April.)  The current median income for a household of 4 is $52,150.

2018 Annual Income Limits

 Household Size    

 Annual Income Limit 

 1

$40,700

 2

 $46,500

 3

$52,300

 4

 $58,100

 5

$62,750

 6

$67,400

 7

$72,050

 8

 $76,700

 

 To find out more about the program click the links below and/or print an application.

                                        • Steps to Owning Your Own Home                                         

                                           • Homebuyer Application                                               

             • Common questions and answers