The Down Payment Assistance Program (DAP) offered by the Community Development Department aims to support first-time homebuyers in overcoming the initial hurdle of affording a down payment. This program provides financial assistance of up to $7,500 to eligible individuals to cover their down payment and closing costs. The amount offered is determined based on the specific needs of each homebuyer.
To qualify for the DAP, applicants must meet certain eligibility requirements and commit to living primarily in the purchased property for a minimum of five years. This program is designed to help individuals achieve their dreams of homeownership and to promote stability and long-term residency within the community.
In addition to the DAP, the Family Services Center, our partnering organization, offers various training and counseling sessions specifically catered to first-time homebuyers. These sessions provide valuable information and guidance throughout the homebuying process. For more details about these classes and other opportunities, interested individuals can contact the Family Services Center at (256) 551-1610.
The program sets income limits to determine eligibility. The maximum income allowed is based on the size of the household. The following table provides the income limits based on the household size for different program requirements:
INCOME LIMITS
1 person household:
- 80% AMI: $46,450
- 50% AMI: $29,050
- 30% AMI: $17,400
2 person household:
- 80% AMI: $53,050
- 50% AMI: $33,200
- 30% AMI: $19,900
3 person household:
- 80% AMI: $59,700
- 50% AMI: $37,350
- 30% AMI: $22,400
4 person household:
- 80% AMI: $66,300
- 50% AMI: $41,450
- 30% AMI: $26,500
5 person household:
- 80% AMI: $71,650
- 50% AMI: $44,800
- 30% AMI: $31,040
6 person household:
- 80% AMI: $76,950
- 50% AMI: $48,100
- 30% AMI: $35,580
7 person household:
- 80% AMI: $82,250
- 50% AMI: $51,400
- 30% AMI: $40,120
8 person household:
- 80% AMI: $87,550
- 50% AMI: $54,750
- 30% AMI: $44,660
The DAP program serves individuals with income levels up to 80% of the Area Median Income (AMI). This ensures that those who may not qualify for traditional financing can still receive assistance in becoming homeowners.
Overall, the Down Payment Assistance Program, along with the additional resources provided by the Family Services Center, aims to make homeownership more accessible and affordable for first-time buyers in the community.