The City of Dallas Housing Department provides a down payment and closing cost assistance program for homebuyers that are purchasing an existing home to be used as their primary residence in Dallas, Texas. 

The down payment assistance is in the form of an $8,500 loan. The loan does not accrue interest and no payments are due on the loan. The balance of the loan will be due when you sell, transfer the deed, or no longer use the home as your primary residence.

The funds can be used toward the borrower’s down payment. Additionally, up to $4,000 can be used toward closing costs; and up to $1,500 of the loan may be alternatively used for minor repairs required by the City’s Minimum Housing Standards.

How does it work? Your eligibility for the program is based on the following:

1. You must be a U.S. citizen or permanent resident, with a valid Social Security Card.
2. You must have continuous, satisfactory employment history for the past six months.
3. You will be asked to complete an approved Homebuyer education course.
4. Income requirements: Your total household income must be 80% or less than the Dallas Area Median Family Income (AMFI) based on household size. Please view the most current income requirements here: http://www.dallasmap.org/default.asp?nc=5613&id=46.
5. You will be asked to provide additional residency, income, debt and savings documentation.
6. The property you want to purchase must be located within the city limits of Dallas; appraise for at least 100% of sales price; and meet the City’s Minimum Housing Standards (MHS).

There are some other program guidelines and documentation requirements so please ask us for all the details, requirements and how to participate. We’ll be happy to answer questions and walk you through the process.