The Dallas County Upfront Cost Assistance Program (known as UPCAP) provides a down payment and closing cost assistance program for first-time homebuyers that are purchasing a home in unincorporated Dallas County, or in one of thirteen participating cities (see the participating cities here: http://www.dallascounty.org/department/comcrt/district4/media/counseling3.pdf). 

The down payment assistance is in the form of a $7,500 loan. The loan does not accrue interest and no payments are due on the loan. The loan will be due when you sell, transfer the deed, or no longer use the home as your primary residence during the five year term.

In order to be considered a first-time homebuyer you may not have owned a home in the last three years (certain exceptions do apply).

How does it work? Your eligibility for the program is based on certain income, purchase price, and home location requirements that we would be happy to review with you. You will need to be a U.S. citizen, permanent resident, or have a current work authorization Visa. You also will be asked to pay a small portion of the down payment from your personal funds and take a home buyer education course.

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.