City of Beaumont Down Payment Assistance Program
How much assistance
Up to $14,999 (Forgivable Loan)
Forgiven at 20% per year over 5 years. Must remain in the home as primary residence for 5 years for full forgiveness.
Eligibility
- Income limits: At or below 80% of Area Median Income (HOME Program income limits)
- Purchase price limit: $150,000
- First-time buyer required: Yes — Must not have owned a home in the last 3 years. Also extended to homebuyers displaced due to legal separation or divorce.
- Geographic restrictions: Must purchase within City of Beaumont city limits.
- Homebuyer education required: Yes
How to Apply for City of Beaumont Down Payment Assistance Program
Step 1: Apply through Legacy Community Development Corporation, a HUD-approved Housing Counseling Agency that administers the program on behalf of the City. Participants must attend monthly counseling sessions with a certified Housing Counselor and complete a homebuyer education class. Contact City of Beaumont Community Development at 409-880-3763 or Legacy CDC at legacycdc.org.
Notes
Program is currently not accepting new applications due to waitlist length. Funds are available on a first-come, first-served basis. Mortgage must be a fixed-rate loan (FHA, VA, Conventional, or USDA). Balloon payments, adjustable-rate, subordinate financing, and owner financing are not acceptable. Buyer must contribute some of their own funds toward the purchase.