San Antonio Homeownership Incentive Program (HIP)
This home buyer program helps with the down payment and fees associated with purchasing a home in the city on San Antonio.
San Antonio HIP Eligibility
- Must qualify for a 1st lien mortgage through your lender
- Take HUD approved home buyer education class
- Property must be within the city limits of San Antonio
- Homebuyers must make a minimum $500 earnest money deposit
- Combined household income needs to be below income limits set by Department of Housing & Urban Development.
HIP 120 Program
Lends between $1,000 to $15,000 as a 0% interest no payment second loan. It can be used towards the down payment or additional costs associated with purchasing a home.
- 25% of the loan will be perpetual.
- 75% of the loan will be forgiven over a 10 year period.
Maximum home purchase price for an existing home $305,200 and new construction $325,800.
HIP 80 Program
Lends between $1,000 to $30,000 as a 0% interest no payment second loan. It can be used towards the down payment or additional costs associated with purchasing a home.
- 100% of the loan between $1,000 - $15,000 will be forgiven over a 5 year period.
- 100% of the loan between $15,001 - $30,000 will be forgiven over a 10 year period.
Maximum home purchase price for an existing home $263,000 and new construction $278,000.
Fill out the form to get more information.