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Texas Home Of Your Own (HOYO) program
Texas Home of Your Own Coalition
www.accesstexashousing.org/

Program Overview


Texas Home Of Your Own (HOYO) program is a first-time homebuyer program that provides down payment and closing cost assistance to persons with disabilities. Home must be located in Blanco, Bastrop, Burnet, Caldwell, Dallas, Fort Bend, Harris, Hays, Johnson, Montgomery, Parker, Tarrant, Travis or Williamson counties.


Who is eligible for this program?


Borrower must be a person with a disability or have a family member with a disability, be able to qualify for a mortgage loan, and have no other interest or ownership in another property or home. The borrower must be a first-time home buyer or not have owned a home in the last three years. Funds may be used for down payment and closing cost assistance.

Household Income Limit: $ 0
Is this program for first-time buyers only? Yes


Property Eligibility Requirements


Homes in Harris, Montgomery, or FOrt Bend counties must be outsidethe city limits of Houston. Homes in Dallas, Johnson, Parker, or Tarrant counties must be outside the city limits of Dallas or Fort Worth.
Allowable property types: detached single-family home, condo, or single side of a duplex. HOYO does not provide assistance on homes built before 1978, and the home must meet minimum habitability standards.


Benefit Details


Funding is a 10-year forgiveable loan, which must be repaid at the time of foreclosure, transfer of title, obtaining a home equity loan, and/or when the home is no longer considered the primary residence. There is no interest on the loan, and it depreciates 10% each year. Assistance amount is $15,000.

Benefit: Funding is a 10-year no-interest forgiveable loan.
Loan Term:10 years
Homebuyer Counseling /
Education Required:
Yes
Owner Occupancy Required:Yes
Other Program Comments:Homebuyers are required to contribute some of their own funds to the down payment and are responsible for all upfront costs and fees.

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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