(HAP) Homebuyer Assistance Program is one of two downpayment & closing cost assistance program for low-to-moderate income homebuyers. This program will suit credit worthy homebuyers who lack the proper funds for a downpayment on a new or resale home.

Amount of Assistance

Depending on total household income and family size,any qualifying family can receive anywhere from $10,000 to $19,500.00. City also has a program called Good Neighbor Next Door which qualifies families for up to $40,000 for teachers,police officers,and firefighters. Any other qualifying family can receive up to $30,000 in downpayment assistance. Must purchase in certain target areas to qualify for $40,000 & $30,000 in downpayment assistance...

Program Guidelines

• Buyer must complete an 8-hour homebuyer education course
• Homebuyer must invest at least $500.00 into the homebuying transaction
• The applicant must have at least $1,000 in liquid assets,but not more than $50,000 in assets
• Combined family income must be at or below %80 of the area median income
• Property sales price cannot exceed $135,000
• Homebuyer must live in the home at least five years for the assistance to be forgiven
• Despite the program's inspector completing a physical inspection of the property, it is highly encouraged that the potential homebuyer gets his/her own home inspection.

Please Note: Buyer must qualify for at least a FHA Mortgage, all normal credit underwriting guidelines and requirements still apply to receive assistance. Mortgage product can be a Conventional,FHA, or VA Mortgage product

Family Size & Income Limits

Assistance Amounts Per Household Size & Combined Income

                                        $10,000      $14,500            $19,500

1                $34,150                $27,750                          $21,350

2                $39,050                $31,700                          $24,400

3                $43,900                $35,650                          $27,450

4                $48,800                $39,650                          $30,500

5                $52,700                $42,800                          $32,950

6                $56,600                $46,000                          $35,400

7                $60,500                $49,150                          $37,800

8                $64,400                $52,300                          $40,250