ANSWER
A Fort Worth condo purchase can use the City of Fort Worth Homebuyer Assistance Program if the condo is inside Fort Worth city limits and you meet the first-time buyer rules; TCU’s financial aid office can help with school-year funding dates, but it does not replace a home loan.
YOUR NEXT DECISION
Apply this to your housing budget
- Confirm the condo is inside Fort Worth city limits.
- Ask a city-approved lender whether you qualify for the Fort Worth Homebuyer Assistance Program.
- Complete HUD-approved homebuyer counseling before applying.
- Budget for your required cash contribution, inspection, appraisal, earnest money, and option fee.
- Verify the condo can pass the city inspection and environmental review before you rely on assistance.
HELP WITH YOUR NEXT STEP
Want to work through your financing options?
Matt can review your purchase budget, down payment and loan options for a home near Texas Christian University.
Discuss financing with MattCity of Fort Worth help for a condo purchase
The City of Fort Worth says eligible first-time homebuyers can get up to $25,000 in payment and interest-free assistance for down payment and closing costs on a home inside Fort Worth city limits. The property must be your principal residence, and the program requires a first-lien mortgage from a city-approved lender plus required homebuyer counseling.
- You must be a first-time buyer, or not have owned a home in the last three years.
- You must contribute at least $1,000 or 2% of the purchase price, whichever is less.
- The home must pass the city’s inspection and environmental review, and reserves equal to two months of mortgage payments are required.
- Source: web-0
How the assistance is paid back
Fort Worth says the assistance is a forgivable loan. If you stay in the home for 10 years, up to $25,000 can be forgiven; if you choose the smaller assistance amount, the home must be your principal residence for five years to receive up to $14,999.
- Do not assume instant access; the city says your lender helps submit the application for processing and approval before closing and funding.
- If you sell before forgiveness is complete, the remaining balance is repaid from the sale proceeds.
- Source: web-0
Where to start if you want school-year financing help too
TCU’s Finance and Administration office lists financial aid and student payment resources, but its aid pages are for university aid timing, not condo financing. For a condo purchase, the direct step is to work with a city-approved lender and then complete the city application through that lender.
- TCU financial aid deadlines are tied to FAFSA, CSS Profile, and student billing dates, not home purchase approval.
- If you need help with the homebuyer process, Fort Worth lists HUD-approved counseling agencies in the city.
- Source: web-3, web-4, web-0
Sources
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