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City of Dallas Mortgage Assistance Program

Dallas MAP Website

City of Dallas Mortgage Assistance Program 2010-2011

Since 1991, Enterprise Dallas has administered the City of Dallas Mortgage Assistance Program with funding from the U.S. Department of Housing and Urban Development (HUD).  To date, Enterprise, as an agent for the City of Dallas, has closed and funded more than 7,200 loans.

The Mortgage Assistance Program (MAP) assists first-time homebuyers with a total household income of less than 80 percent of Dallas area median income to purchase a home.  The maximum loan amount for the house
may not exceed FHA 203B limits.  The house must pass an inspection to insure it meets HUD’s Minimum Housing Standards (MHS).

Citywide Homebuyer Assistance

The Mortgage Assistance Program (MAP) is designed to provide down payment and closing cost assistance to first-time homebuyers within the city limits of Dallas.  These buyers must owner-occupy the property.

A first-time homebuyer is defined as one that has not owned a home within the last three (3) years prior to making application.

Community Housing Development Organization (CHDO) Homebuyer Assistance

Community Housing Development Organizations (CHDOs) are non-profit organizations who meet federal and local criteria to become certified with the City of Dallas for special development subsidies.  CHDOs are provided development subsidies which lower the cost of building a home, and in turn, reduce the sales price of a given home to an eligible buyer.

Under this assistance, MAP will provide down payment and closing cost assistance to homebuyers within the city limits of Dallas.  These buyers are not required to be first-time homebuyers, but must owner-occupy the property.

Foreclosure Program Support Homebuyer Assistance

This program provides homeownership opportunities to homebuyers through the provision of financial assistance in purchasing a foreclosed home under the Neighborhood Stabilization Program (NSP) and EHOP Dallas, Inc.

Under this assistance, MAP will provide down payment and closing cost assistance to homebuyers within the city limits of Dallas.  These buyers are not required to be first-time homebuyers, but must owner-occupy the property.

Income Guidelines

Borrowers with family incomes below the following categories may be eligible for a MAP Loan based on total household income, cash needed to close, and limitations noted under Eligible Borrower Requirements.

ANNUAL HOUSEHOLD INCOME

INCOME RANGE 80% OR BELOW
MAXIMUM SUBSIDY UP TO $12,000/25,000
HOUSEHOLD SIZE HOUSEHOLD INCOME 
1 $38,696
2 $44,224
3 $49,752
4 $55,280
5 $59,702
6 $64,125
7 $68,547
8 $72,970
9 $77,392

  
To contact a loan expert, use the contact form to the right or call (800) 308-8503.

2 Comments

  1. Ryan Mooney says:

    Hi am interested in the City of Dallas Mortgage Assistance Program (MAP). Can I get a conventional loan through PrimeLending and use MAP? Also could you quote me an interest rate with this program. Here is the website

    http://www.primelendingdallas.com/dallas-mortgage-resources/dfw-area-dpa-programs/city-of-dallas-mortgage-assistance-program

    • The short answer is YES, however a conventional loan with Dallas MAP assistance will not work in every situation.

      The longer answer is IN ADDITION, the loan-to-value would have to be 80% or less in order to get approval on a Dallas conventional loan because mortgage insurance (MI) companies would not allow for the second lien.

      In regards to your question about Dallas mortgage rates, there is no way to get a simple estimate without looking closer at the details of your situation. The reason being, DPA conventional loans must first be approved by our bond department on a case-by-case basis; we prefer loans utilizing DPA choose Dallas FHA loan products.

      It IS possible to get the financing you want. In the last year, I have closed two loans that were conventional financing with a Texas DPA program.

      In sum, it is possible to get conventional financing with Dallas MAP; however FHA financing is preferred and thus we would need to do some additional verification to secure the conventional financing with Dallas MAP.

      Apologies the answer is not a simple yes or no! If you have additional questions, please use the contact form on this page, or call (800) 308-8503 or (214) 702-1659.

      Ryan, I have received your contact information and called earlier today to give you more information about your situation! 😉

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