Down Payment & Closing Cost Assistance

Eligible Households*

Must be utilizing the Garland Housing Finance Corporation’s MCC Program through a participating lender. Therefore, must meet the MCC Program guidelines listed below:

  • No First Time Homebuyer Requirement
  • All Buyers to complete the SETH On-Line Homebuyer Education Course
  • Available for the City of Garland
  • Down Payment and Closing Cost Assistance of up to 5% of your Loan Amount
  • DPA Available with 3 Year Forgiveness Options and Grants
  • Maximum Sales Price: $411,700 ($484,350 Conv.)
  • 30 year fixed rate mortgage: FHA, VA, USDA or Conventional
  • Qualify for a Mortgage Loan with a Program Lender: www.seth5star.com
  • Borrowers must be income eligible

*See MCC Program Summary for additional guidelines. The program is subject to available funds.

FHA Income Limits Conv Income Limits

City of Garland

Conv Charter Level Income Limits

$67,840

FHA Income Limits

$99,130

Conv Income Limits

$118,720

See website for complete list of income limits and participating lenders.

Example: If your loan amount is $170,000

5% DPA= $8,500 FHA/Conv Only

4% DPA= $6,800 FHA/Conv Only

3% DPA= $5,100 FHA,VA,USDA, Conv

Contact:
Rhonda Mitchell | Director Homeownership Programs

[email protected] | 281.484.4663