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Fort Worth Neighborhood Stabilization Downpayment Assistance Program
City of Fort Worth
www.fortworthgov.org/hed/

Program Overview


Fort Worth Neighborhood Stabilization Downpayment Assistance Program is a program that provides financial assistance to qualified homebuyers to purchase lender-foreclosed homes in target areas in the city of Fort Worth. Property must be located in a designated area in the city of Fort Wroth.


Who is eligible for this program?


Funds may be used for closing costs, minor home repairs and principal reduction of the applicant’s primary loan.

Household Income Limit: $ 106800
Is this program for first-time buyers only? No


Property Eligibility Requirements


Property must be located in ZIP Code areas 76131, 76137, 76133, 76123, 76179, 76112, or 76248 and within Fort Worth city limits.
The sales price cannot exceed $ 225000.
Allowable property types: Detached single-family structures and duplexes are eligible. Townhouses and condominium units situated in structures under eight units are also eligible.


Benefit Details


If the homebuyer remains in the home for 10 years, the loan is forgiven. The amount of the deferred-payment loan begins to reduce after five years. Maximum assistance of $25,000. $5,000 can be used on closing costs and $5,000 can be used on minor repairs. The remaining balance can be used for down payment.

Benefit: Deferred-payment loan with no payments or interest for 10 years.
Loan Term:10 years
Homebuyer Counseling /
Education Required:
Yes
Owner Occupancy Required:Yes
Other Program Comments:Application must be made through a participating lender. The program is expected to end in 2010.

Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on row site. Some inaccuracies may exist. For verification contact a certified REALTOR member.



For more information about row and other homebuyer programs please contact one of the following:

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