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Homebuyer Program

Down Payment and Closing Cost Assistance

The homebuyer program offers down payment and closing cost assistance to qualifying low-income residents looking to purchase a home in Odessa. For existing homes we provide 5% or 10% down payment assistance and up to $3,500 in closing costs assistance for homes less than $95,000. The program also offers down payment assistance on a sliding scale based on family income with up to $4,000 in closing costs assistance for any newly built home within city limits that has a sales price of less than $120,650.

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.

2013 Annual Income Limits

 Household Size    

 Annual Income Limit 

 1

$30,100 

 2

 $34,400

 3

$38,700 

 4

 $42,950

 5

$46,400 

 6

$49,850 

 7

$53,300 

 8

 $56,700

 

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

Link to Community Development

                                        • Steps to Owning Your Own Home                                         

                                           • Homebuyer Application                                               

             • Common questions and answers             

Last updated: 6/7/2013 10:43:03 AM