Austin, Texas is a rapidly growing city with an active and diverse housing market. As housing prices continue to rise, the city is working to ensure that all residents have access to safe, affordable housing. To this end, the city has developed several home programs to make homeownership more accessible.
The Austin Home Down Payment Assistance Program provides low-income households with up to $40,000 to put toward a down payment on a home. The program is funded by the City of Austin and the U.S. Department of Housing and Urban Development (HUD). Eligible households must meet certain income and credit requirements, as well as complete a homebuyer education course.
The Austin Home Repair and Rehabilitation Program provides assistance to homeowners with immediate and necessary repairs to their homes. This program is designed to help low- to moderate-income households with repairs that cannot otherwise be covered by insurance or other assistance programs. Eligible repairs include roof replacement, foundation repair, and plumbing and electrical repairs.
The Austin Housing Trust Fund was established to help develop and maintain affordable housing in the city. This program grants money to developers and community organizations that are working to provide affordable housing options. The fund also provides grants to individuals and families to help them purchase and maintain their homes.
Finally, the Austin First-Time Homebuyer Assistance Program offers assistance to those who are buying their first home. This program provides up to $15,000 in down payment and closing cost assistance to eligible households. To be eligible, households must meet certain income requirements and complete a homebuyer education course.
The city of Austin is committed to ensuring that all residents have access to safe, affordable housing. Through its various home programs, the city is working to make homeownership more attainable for low- to moderate-income households.