City of Irving Down Payment Assistance Program

The City of Irving Down Payment Assistance Program offers robust funding to first-time homebuyers with low-to-moderate incomes who plan to purchase a home in Irving, TX. This money can be used to increase your down payment and to help you cover closing costs.

Eligibility requirements

To qualify for the City of Irving Down Payment Assistance Program, you must meet the following eligibility requirements.

1. You must be a first-time homebuyer, or you cannot have owned a home within the past three years.
2. The home you buy must be within the city limits of Irving.
3. Your total household income must be at or below 80% of the area median income (AMI). 

*For all DPA programs, income and purchase price limits are regularly reviewed and updated. These amounts were correct at publication but may change with time.

Type of loan

The City of Irving Down Payment Assistance Program gives you a deferred forgivable loan to help you with your down payment. This loan doesn’t accrue any interest, and if you meet certain forgiveness requirements, you won’t have to pay any of the money back. 

To be eligible for full loan forgiveness, you must live in the home for a period of between five and twenty years, depending on the size of your loan. The home must be your primary residence and you cannot sell or refinance it during this time. You must also consistently pay your mortgage on time to be eligible for forgiveness. 

Amount of down payment assistance

Through the City of Irving Down Payment Assistance Program, you can receive as much as $50,000 to assist with your down payment and closing costs. This gives you flexibility in how you use your assistance.

Minimum borrower contribution

You’ll need to contribute $1,500 toward your down payment to qualify for this program. This means you’ll need some savings before you apply . However, your contribution is added to your down payment, so you essentially invest $1,500 to get up to $50,000. 

Purchase price limits

There are no purchase price limits for this program. There are income limits, though, which will likely act as a soft cap on how much you can pay for your home. 

Income limits

The income limits for this down payment assistance program are 80% of the area median income (AMI). 80% AMI for Irving is currently between $57,750 and $108,900, depending on your household size. 

The program income limits are regularly checked and updated to reflect the current housing market and economic conditions. To see if your income qualifies you for this program, use our free down payment assistance finder.

How to qualify for City of Irving Down Payment Assistance Program

To be eligible for this down payment assistance program, you must meet the requirements detailed above. Use our free down payment assistance finder to see if you qualify.

How to apply for City of Irving Down Payment Assistance Program

To apply for the City of Irving Down Payment Assistance Program, you must work with an approved and participating lender. The City of Irving doesn’t accept applications directly from buyers. You can find a participating lender by using our free down payment assistance finder.