Homeownership Incentive Program (HIP 120)

About This Program

HIP 120 provides down payment and closing cost assistance of $1,000–$15,000 as a 0% interest forgivable second lien to income-qualified first-time homebuyers purchasing within San Antonio city limits. The loan is 75% forgivable over 10 years with the remaining 25% as a perpetual lien. Buyers must complete an 8-hour HUD-approved homebuyer education course.

Income must be ≤120% AMI; purchase price caps $305,200 (existing) / $325,800 (new)

Key Details

• First-time homebuyers only (no ownership in prior 3 years)
• Income ≤ 120% AMI; limits range ~$81,150–$153,000 by household size
• Minimum $500 earnest money deposit required
• 8-hour HUD-approved homebuyer education course required
• Must purchase within San Antonio city limits

How to Apply

Deadline: Open — ongoing