NOTICE: The City of Houston plans to implement ADDI upon receipt of fiscal year 2005 funding from HUD and the subsequent contracting of an agency to administer the program. Please continue to check this site for an announcement regarding the opening of the ADDI program.
For more information about the current homebuyer assistance program, call the City of Houston at 713.522.HOME.
The American Dream Down Payment Act, which authorized the American Dream Down Payment Initiative (ADDI) and an allocation of $200 million to increase minority homeownership by 5.5 million families by 2010 was signed into law in December 2003. The law was prompted, in part, by results of the most recent census, which shows that while seventy percent (70%) of all American households own their own homes, less than half of African-American and Hispanic families are homeowners. The Act is administered under the U.S. Department of Housing and Urban Development's (HUD) Home Investment Partnerships Program. As a participating jurisdiction, the City of Houston has been allocated ADDI funds in the amount of $793,232 for Fiscal Year 2003 and $936,037 for Fiscal Year 2004, a total of $1,729,269.
Upon receipt of ADDI funding, the City of Houston will identify an agency to administer the program on our behalf. The following homebuyer assistance program guidelines will apply to the ADDI program:
The property being purchased must be within Houston city limits.
Existing homes must pass HUD inspection requirements.
Homebuyers must not have owned a residential structure during the three-year period prior to purchase of a home with ADDI assistance.
A maximum down payment assistance grant of either $10,000 or six percent (6%) of the purchase price of the home, whichever is greater.
Total annual household income must not exceed eighty percent (80%) of the median income.
The first-time homebuyer must qualify for a mortgage loan underwritten through a participating affordable housing lender.
The maximum home price for a single-family dwelling unit, townhouse or condominium is $135,000
The first-time homebuyer must take a pre-purchase homebuyer education class (minimum of 8 hours) from a HUD certified counseling agency.
Total annual household income must not exceed eighty percent (80%) of the median income.
Household Size
Maximum Income
1 person
$34,150
2 persons
$39,050
3 persons
$43,900
4 persons
$48,800
5 persons
$52,700
6 persons
$56,600
7 persons
$60,500
8 persons
$64,400
For more information about the current homebuyer assistance program, call the City of Houston at 713.522.HOME.
