DeSoto, TX - Did you know the month of June is National Homeownership Month? On Tuesday, June 1, President Biden followed in the footsteps of previous presidents and issued a proclamation designating June 2021 as "National Homeownership Month."
The designation helps spotlight and support what many consider the American Dream, owning their own home, and recognizing the organizations that help individuals and families achieve their housing goals.
In March of 2021, the City of Desoto launched the Down Payment Assistance Program (DPAP). The program was approved by Council in 2020 and fulfills in part Goal #4 in the City's Business Plan. The purpose of the program is to increase homeownership opportunities for current residents living in DeSoto.
The DeSoto Down Payment Assistance Program provides down payment and closing cost assistance to low-income, first-time homebuyers in the form of a forgivable loan up to $10,000. The amount of assistance will be dependent on the sales price and loan amount from the lender. To download the program guidelines, visit the DPAP webpage, https://www.ci.desoto.tx.us/2029/Down-Payment-Assistance-Program.
Must currently live in the City of Desoto
First time homebuyer or have not owned a home in the past three (3) years
Annual gross income must be at or below the 80% Area Median Income (AMI)
Must have submitted an offer or signed the sales contract on property in DeSoto Must complete eight (8) hours of Homebuyer Education training through a HUD approved agency.
Brochures about DPAP can be picked up at the Action Center. For additional questions, please call (972) 230-7355 or email DownPa.
Source: City of DeSoto