You could if you were purchasing a home from the City of Dallas Mortgage Assistance Program called Dallas MAP. This program is a down payment assistance that helps families purchase homes in the Dallas city limits. The $20,000 incentive is special for the community housing and development organization (CHDO) projects. These projects are newly constructed homes from 2011 to present in revitalized areas of Dallas. Now doesn’t that sound like a sweet incentive? Another bonus is that the $20,000 is a forgivable grant. Each year that you reside in the home the grant is forgiven and you never have to pay that percentage back until the specified time allotment of living in the home. That’s almost 10-15% down on a newly constructed home with closing costs. Now where else can you get a deal that sweet? Check the chart below to see if you qualify.
|INCOME RANGE||80% OR BELOW|
|MAXIMUM SUBSIDY||UP TO $8,500/$10,000/$20,000|
|HOUSEHOLD SIZE||HOUSEHOLD INCOME|