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Homeownership! The American Dream! 

 The City of Memphis, through its Division of Housing and Community Development, offers financial assistance to its citizens through the Down Payment Assistance Program (DPA), to assist with meeting the financial requirements of purchasing a home. DPA provides funds to help meet the down payment and closing cost requirements needed to complete the closing. 

 We have a variety of programs that provide assistance to homebuyers meeting program eligibility requirements. Requirements may include income limits, employment, location of the home, and being a first-time homebuyer. All properties must be located within the city limits of Memphis and must be assessed Memphis City taxes. The maximum sales price for all programs is the current FHA 203 (b) mortgage limit, currently $275,665. Based on funding availability, the maximum amount of assistance is up to 10% of the sales price, not to exceed $10,000. 

 If you are ready to purchase a home, information is available to help you determine which program may fit your needs. Please click on the links below to learn more about the various programs available. 

Citywide DPA (CWDPA) - maximum income limit is 80% area median income, may purchase anywhere in the city limits. 
Memphis Housing Authority (MHA) - current or recently displaced MHA residents, maximum income limit is 80% area median income, may purchase anywhere in the city limits. 
Section 8 Homeownership Program (SHAPE)  - current Housing Choice Voucher holders, maximum income limit is 80% area.median income, may purchase anywhere in the city limits. 
Targeted Area DPA (TADPA ) - must purchase home through MHA HOPE VI Program, maximum income limit is 80% area median income. 
Homebuyer Program Incentive Citizens (HIPC) - maximum income limit is 200% area median income; must purchase within 15 designated areas within the city! 
Homebuyer Program Incentive Police (HIPP) - must be a uniformed officer with City of Memphis Police Department for a minimum of one year, no income limit, may purchase anywhere in the city limits. 
Homebuyer Program Incentive Firemen (HIPF) - must be a front-line fire fighter with City of Memphis Fire Department for a minimum of one year, no income limit, may purchase anywhere in the city limits. 
Homebuyer Program Incentive Teachers (HIPT) - must be a full-time classroom teacher, certified in grades K-12 with Shelby County Schools for a minimum of two years, no income limit, may purchase anywhere in the city limits. 

To Apply for DPA: 

 1) All applications for DP A are made through an approved DP A Lender. Lenders request to use our program and once approved, they are added to our list. Click here to see the currently Approved Lender list. 

 2) The lender will complete the DP A Application and gather all required documents. Once your first mortgage loan is approved, your lender will submit your file to the DP A Department for processing. 

 3) After DPA has reviewed and approved your file, DPA will notify the lender that the file is approved and your check and documents are complete. The DP A approval time is 10 business days from the time we receive a complete application. 

 4) You will sign a DPA Note, Deed and other closing documents after you sign your first mortgage loan documents. 

 5) If you would like to speak to someone in the DPA Department for additional questions or information, please feel free to call us at 90
Funds Available: Down Payment and Closing Costs 

The City of Memphis is providing up to $10,000 to help homebuyers with down payment and closing costs to complete the purchase of a home inside the city limits of Memphis. Programs are available for first-time homebuyers and for existing homeowners wanting to sell their current homes and upgrade or downsize to a home that better fits their needs.
# in Household CWDPA, MHA, MHC Income cannot exceed 80% AMI* HIP Citizens Income must be more than 80% but not exceed 200% AMI*
1 $33,600 $33,601 - $84,000
2 $38,400 $38,401 - $96,000
3 $43,200 $43,201 - $108,000
4 $48,000 $48,001 - $120,000
5 $51,850 $51,851 - $129,600
6 $55,700 $55,701 - $139,250
*Area Median Income as determined by HUD effective June 15, 2017
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Down Payment Assistance Program Process 

 Citywide DPA * Memphis Housing Authority DPA* Memphis Housing Connect DPA   
 -first-time homebuyers with income not exceeding 80% median income, purchasing inside the city limits and meeting specific program eligibility requirements. 

 Homebuyer Incentive Program - Citizens   
 -homebuyers with income between 81% - 200% median income, purchasing in designated areas inside the city limits and meeting specific program eligibility requirements. 

Homebuyer Incentive Program - Police, Fire and Teachers
-homebuyers meeting employment requirements, purchasing inside the city limits and meeting specific program eligibility requirements. No income limits. 
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