Eligible Uses	- Closing Costs - Down Payment Assistance
Eligible Borrowers	-First Time Home Buyer (can not have owned a house in the past 3 years) -Borrower must have a firm loan commitment from a DPAP-eligible primary lender. - Property must be Borrowers primary residence.
Eligible Household Income	_Maximum of 115% AMI
Eligible Properties	_Any new or existing home Located in Tarrant County, excluding the cities of Keller and Grand Prarie
Eligible Lenders	Approved lenders participating in the City’s Housing Assistance Program (HAP)
Maximum Purchase Price	$225,000
Loan Proceeds	No cash to borrower at closing
Loan Closings	Closings must take place at title agency location.
Maximum Housing & Debt Ratio	Maximum housing ratio: 30% Maximum combined ratio: 41%
Title	Primary lender must provide copy of preliminary title and evidence of Substitute Deed of Trust
Escrows	Primary lender must establish and maintain real estate, hazard insurance, and flood insurance impound accounts for primary-position loan
Appraisal	Primary lender must provide copy of current appraisal
Acceptable (DPAP) Lien Position	2nd position
Deferred DPAP Loan Interest Rate	0%; $0/month payment .
DPAP Affordability Period	Deed restriction in Deed of Trust to provide for five-year affordability period
Housing Counseling	Homeownership training workshop provided by a HUD-approved housing counseling agency is required.