Workforce Housing

 

The City of Houston’s (City) Housing and Community Development Department (HCDD) is proud to offer Workforce Housing Downpayment Assistance to our eligible citizens. Workforce Housing Downpayment Assistance was created to provide Houston residents the opportunity to purchase a new home in the Houston HOPE areas or any area/neighborhood designated by the Mayor of Houston for revitalization. Workforce Housing will provide families whose combined gross annual income is 80 – 110 percent of Houston’s median income with down payment, closing cost and pre-paid items assistance. The level of assistance provided to each approved applicant will be $30,000.

 

• HCDD staff will administer the Workforce Housing Downpayment Assistance Program according to the policy and procedures set forth in the administrative guidelines.
  
• Funding for Workforce Housing Downpayment Assistance Program will be available through the Tax Increment Reinvestment Zone (TIRZ)
  
• The Workforce Housing will provide direct financial assistance to offset portions of the down payment, closing costs, pre-paid items and principal required for home purchase.

 

Eligibility Requirements

• The applicant must complete at least eight (8) hours of homebuyer education from any participating HUD-approved Housing Counseling Agency (.xls, updated 03.22.2011).
  
• The applicant must purchase a newly constructed residential property. A new construction is defined as a property that is proposed, under construction, or has been completed less than a year according to the Certificate of Compliance.
  
• The property must be located in Houston Hope areas or any area/neighborhood designated by the Mayor of Houston for revitalization.
  • See Eligible locations (.pdf, 11.15. 2010)
    
• HCDD Inspection Services Section is required to conduct an independent physical inspection on the property. Despite the HCDD’s inspector completing a physical inspection of the property, it is highly encouraged that the potential homebuyer gets his/her own TREC inspection
  
• The sales price for the property cannot exceed $150,000.
  
• See Minimum Property Standards for New Constructions (.doc, 05.10.2012)
• See Minimum Property Standards for Existing Properties (.doc, 05.10.2012)
  
• The applicant must invest at least $500 into the home buying transaction (i.e. earnest money, appraisal, etc.)
  
• The applicant must demonstrate the ability to obtain a mortgage loan (financial, credit worthiness, etc.) and sustain ownership over the period of affordability of ten (10) years.

 

 

 

page last updated 05.10.2012

 

 

2012 Household Income Limits Family Size 110 % of Houston's Median Income 1 $51,513 2 $58,872 3 $66,231 4 $73,590 5 $79,477 6 $85,364 7 $91,252 8 $97,139     The calculator below will help determine if you qualify for Workforce assistance. However, the calculator result alone does not automatically qualify you for our programs.   For further information on Workforce Housing, please call 713.522.HOME (4663). City of Houston Workforce Housing Income Eligibility Calculator (THIS CALCULATOR ONLY AVAILABLE VIA INTERNET EXPLORER)   Household Size Household Income $         Qualify - Based on the information submitted you might qualify for the City of Houston Workforce Housing Downpayment Assistance Program. Please contact us at 713-522-HOME for further assistance. Over Income Guidelines - Based on the information submitted your income exceeds the area median income limits for this program.