Initial Eligibility Requirements:

• Property must be located in Tarrant County BUT OUTSIDE the city limits of Fort Worth, Arlington and Grand Prairie and the flood plain as designated by FEMA

• Applicant(s) must not have owned a home in the last 3 years.

• The total household income must be at or below 80% of the area median income.

• Applicants' liquid assets may not exceed $25,000

• Borrowers must invest a minimum of $1,500

• Debt to Income Ratios not to exceed 35/45

• Must have cash reserves in the amount of 2 months mortgage payment (cannot be gift funds)

• The assistance is provided in the form of a zero interest deferred note forgivable after completion of the 10 to 20 year affordability period.

• Must be a United States citizen or a permanent resident alien.

• The home must pass a Minimum Acceptable Standards Inspection and environmental review with Tarrant County.

• Must complete Housing Channel's HUD certified homebuyer workshop