The purpose of the down payment assistance program is to provide an opportunity to make housing more affordable by providing first time, low-income home buyers with down payment loans. Loans of up to $30,000 are provided to households with income equal to or below the 80% of area median family income. All loans bear a 0% interest and are forgivable when the home buyer has used the residence for 10 consecutive years as their principal residence.

If the home buyer should decide to refinance the existing loan, the City of Laredo will subordinate its 2nd lien provided the structure of the loan remains the same. In the event that the city determines that the assisted homebuyer(s) is non-compliant with residency requirements and the other requirements stated in the Down Payment Assistance Program (DPA) Contract then the entire face value of the DPA loan is immediately due and payable to the city. Homebuyer will be given 30 days to return to compliance. If homebuyer(s) does not return to compliance the entire face value of the DPA will be due and payable and will incur a four percent (4%) interest per annum.

• How do I qualify for assistance?
• Approved Lender List
• How to become an approved DPA lender
• DPA Policy and Procedures/Application
• DPA Brochure

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